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Role of HK, Shanghai Complementary: HK Official
The role of Hong Kong and Shanghai as economic centers of China will be complementary, rather than competitive, said Mike Rowse, director general of Invest Hong Kong (InvestHK), Wednesday.
Hong Kong's economy is shifting to be concentrated on the service industry from the manufacturing industry, Rowse told Xinhua at a media gathering Wednesday.
Latest statistics show that some 855 foreign companies have established their regional headquarters in Hong Kong by 2000.
For Hong Kong is regarded as a springboard for Chinese mainland companies to get access to the world business, and it also serves as a point for companies worldwide to get into the market of the Chinese mainland and the southeast Asia, he explained.
Even for Singapore as an international financial center, Rowse said some 97 Singaporean companies had made their regional headquarters and offices in Hong Kong by 2000, because of Hong Kong's role as a medium to the Chinese mainland.
He said the United States have economic centers of New York, Chicago, San Francisco and Houston.
As a country with such a huge population and dramatically expansion of the economy, China will surely have more than two economic centers in the coming 20 years, he said.
Besides Hong Kong and Shanghai, other cities like Guangzhou and Chongqing are also expected to emerge as new economic centers of China, he predicted.
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