Vice premier: HK witnesses momentum of economic recovery

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Last updated at: (Beijing Time) Wednesday, November 05, 2003

Vice premier: HK witnesses momentum of economic recovery

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Chinese Vice Premier Zeng Peiyan said Wednesday that Hong Kong has witnessed momentum of economic recovery and Hong Kong would surely overcome the temporary problems and maintain a long-term stability and prosperity, with the coordinated efforts of Hong Kong compatriots.

Zeng made the remarks in a keynote speech at the opening of the two-day BusinessWeek CEO forum.

He said such prosperity indicators as tourism, property, trade and commerce, transport are quite brisk in Hong Kong and Hong Kong is still cashing in on its advantages as an international financial, trade and shipping center.

The vice premier stressed that what is most important is that Hong Kong residents' confidence is growing.

He said the central government will continue to render full support to Hong Kong Special Administrative Region (HKSAR) government led by Chief Executive Tung Chee Hwa in administration by law, maintaining social stability and reactivating Hong Kong's economy.

The vice premier said the central government would push ahead with more coordination and closer cooperation between the Chinese mainland and Hong Kong and speed up the implementation of Chinese mainland/ Hong Kong Closer Economic Partnership Arrangement (CEPA).

He said the Chinese mainland and Hong Kong will cooperate in building large-scale infrastructure projects and the central government is to help advance Hong Kong's economic restructuring and promote the economic development in both Chinese mainland and Hong Kong.

Zeng said it is the second time that the BusinessWeek's CEO forum is held in Hong Kong, which showcased Hong Kong's important status as an international trade hub and metropolis.

He said since the establishment of HKSAR, the principles of "One Country, Two Systems," and "Hong Kong People Governing Hong Kong" have been fully implemented.

Zeng said Tung Chee Hwa demonstrated courage and wisdom in encountering challenges as Asian financial crisis, changes of the global economic environment and SARS epidemic.

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