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|Wednesday, January 31, 2001, updated at 09:13(GMT+8)|
HK Progresses Well in 2000, Chief ExecutiveHong Kong has made progress not only in implementing "One Country, Two Systems," but also in developments across the board during the past year, Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa said Tuesday.
Addressing a spring reception held at the Government House, Tung noted that the progress on the economic front was especially encouraging, compared with progress in other areas.
Overcoming the Asian financial crisis, Hong Kong's economy has resumed growth and its GDP is forecast to grow by 10 percent in 2000, far surpassing that of other Asian economies, Tung said.
"This has proven once again that the free and open economic system of Hong Kong has a firm foundation and the advantage of flexibility," he stressed.
Aside from economic achievement, the government has made progress in resolving some long-standing problems, Tung said, citing the rise of the region's competitiveness and a series of reforms.
Looking ahead to the coming year, Tung said that with the mainland joining the WTO and initiating extensive developments in the Western Region, new business opportunities in trading, financial services, infrastructure investment, transportation and professional services will abound.
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