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HK Remains Top Financial Center in Asia-Pacific, Official
A senior official of the Hong Kong Special Administrative Region (SAR) government said Thursday that Hong Kong remains the most important financial and commercial center in Asia-Pacific after its return to China for four years and the Asian financial crisis.
Antony Leung, financial secretary of the SAR government, said Hong Kong's role as the financial and commercial center in the region will become more prominent along with the increasing cooperation between Asian economies and China's entry into the World Trade Organization (WTO).
Leung said at a press conference that many world-known political and business leaders he had met at the Fortune Global Forum, some of whom have never been to Hong Kong, were deeply impressed by today's Hong Kong, for they had been convinced that the way of life and social system in Hong Kong have not changed since its return to China.
They also saw that the Hong Kong economy had gradually recovered in the past year and Hong Kong still maintains its position as the most important financial and commercial center in Asia, Leung said.
On the impact of China' WTO entry on Hong Kong, Leung said the Chinese mainland has its competitive edge in the manufacturing industry and is home to low-cost, high-quality products. China will continue to expand its imports and exports after it enters the WTO, and Hong Kong, as a logistics center of the mainland, will benefit from it.
Leung called on various Asian countries and regions to strengthen trade and economic relations, saying Asia could not achieve rapid development otherwise. Hong Kong could play a greater role in the regionalization of the Asian economy, he added.
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