Tung Chee Hwa: HK links Pan-Pearl River Delta Region to world

Chief Executive Tung Chee Hwa said Tuesday Hong Kong can act as an intermediary for economic cooperation and linking the Pan-Pearl River Delta Region to the rest of the world.

He said Hong Kong will also play a positive role in facilitating the opening-up and future development of the region.

Speaking at the first Pan-Pearl River Delta Region Cooperation and Development Forum, Tung said that Guangdong Province, which initiated the concept, should play an important role in the process of regional cooperation and development.

Comparing the strengths of Hong Kong and Chinese mainland are as,Tung said Hong Kong has its own advantages in raising capital, financing, information exchange and delivering services.

With stronger capability in doing business and opening up new markets, Hong Kong can become a hub of high added-value services in the region, he added.

The four major pillars of Hong Kong's economy -- finance, logistics, tourism and professional services -- are also the fastest developing industries in the Pan-Pearl River Delta Region, Tung said.

He believed that enhancing regional cooperation in these areas will help the concerned provinces and cities give full play to their own strengths and advantages.

"To activate the Pan-Pearl River Delta regional cooperation, itis necessary to launch large-scale infrastructure projects, capital-raising activities and business promotion events."

Tung agreed that the establishment of a new mechanism will boost communication and coordination among provinces and cities within the region.

Speaking at the same forum, HK Chief Secretary for Administration Donald Tsang said the regional cooperation is a process with a lot of challenges.

These challenges include the difficulties in building cross-provincial infrastructure, differences among the various places, and problems in skills-exchanges.

Governments' determination and business wisdom are essential to overcoming these challenges, Tsang said.

"Pan-Pearl River Delta regional cooperation will help Hong Kong leverage our unique advantages, expand our economic hinterland and scope of development, and facilitate Hong Kong's economic recovery and long-term development."

Pan-Pearl River Delta Region includes provinces of Guangdong, Hainan, Guizhou, Jiangxi, Yunnan, Sichuan, Hunan, Fujian and Guangxi Zhuang Autonomous Region, as well as Hong Kong and Macao special administrative regions.

Source: Xinhua