Hong Kong Financial Secretary Donald Tsang will head a delegation of top Hong Kong business leaders to the World Economic Forum (WEF) this week, said a government spokesman on January 24.

"Tsang will take part in the WEF's 30th annual meeting in Davos, Switzerland, from January 28 until January 30," said the spokesman.

Tsang will join a number of important discussions, including a Plenary Session entitled "Asia is back: What next?," a session on financial markets in the 21st century and a networking session with world economic and business leaders on how to use the Internet and knowledge revolution as a positive force in shaping the 21st century.

The financial secretary will speak at a Hong Kong lunch, to be organized by the WEF, on the topic "Reinventing Hong Kong: Can it regain its dynamism?" and host a Hong Kong networking dinner for over 100 delegates.

Bilateral meetings have been scheduled with Germany's Federal Minister of Finance Hans Eichel, Australian Foreign Minister Alexander Downer and US Assistant Secretary of State for East Asia and the Pacific Stanley Roth.

This year's meeting will focus discussions on the global economy's major challenges which include the impact of e-commerce and revolutions in information technology and biotechnology.

The annual WEF allows the world's business elite and government leaders to meet informally to discuss many of the issues arising from globalization.