 |
Tung Meets Senior Minister of Singapore
Tung Chee Hwa, chief executive of the Hong Kong Administrative Region (HKSAR), received the Senior Minister of Singapore Lee Kuan Yew in Hong Kong Friday.
Tung welcomed Lee to Hong Kong and congratulated him on receiving the honorary doctorate from the Chinese University of Hong Kong.
During the meeting, they exchanged views on recent developments in the Asian region. Tung noted that Hong Kong and Singapore had very close ties and that both economies were one another's major trading partner with substantial mutual investments.
Tung said: "During the year, while some neighboring economies are still dealing with problems arising from the Asian financial turmoil, both Hong Kong and Singapore have made progress in reforming the financial regulatory framework, and have achieved substantial economic growth."
"Hong Kong is expected to achieve 10 per cent GDP growth this year. With further improvements in the external environment, we can look forward to sustained growth and Hong Kong people will be able to reap the results of their hard work in the last three years," Tung added.
On Hong Kong's development since the establishment of the Special Administrative Region, Tung said: " 'One Country, Two Systems' is an unprecedented constitutional arrangement. With the support of the Central Government and collective effort of Hong Kong people, 'One Country, Two Systems' has been fully implemented. Hong Kong people are proud of this. "
Tung said that the achievement had also been widely acknowledged by the international community. During the last three years, Hong Kong has seen a continued inflow of foreign investments and former Hong Kong residents were returning in significant numbers from overseas. These trends signify confidence in the HKSAR.
The chief executive said: "The HKSAR was established at a time when our country is growing and gaining in international stature. As our country moves forward, Hong Kong, being a special administrative region of China, is privileged to be able to play a part and to contribute in the process. We look forward to these opportunities and are filled with confidence about our future."
Tung said: "Hong Kong will continue to face many challenges, and the external competitive pressures will be strong. However, Hong Kong has always enjoyed a fine reputation internationally as a free, open, forward looking and vibrant society. With our firm foundation in the rule of law and fine traditions, Hong Kong is well qualified to maintain its position as a world class city in Asia."
In This Section
|