Hong Kong has become the second largest recipient of foreign investment in Asia following the Chinese mainland, Henry Tang, acting chief executive of Hong Kong Special Administrative Region, said in Hong Kong on June 13.

"We are a vivid example of the enormous benefits that free and open trade can bring," Tang said while addressing the opening ceremony of the 38th International General Meeting of the Pacific Basin Economic Council (PBEC) held here at the Hong Kong Convention and Exhibition Center.

The rule of law, a clean and efficient government, a low and simple tax system, excellent infrastructure and a large pool of talented and professional workers will reinforce Hong Kong's position in future as a leading international business hub, he said.

Hong Kong will continue to play a key role in China's development, as over the past 10 years it has raised more than 110 billion US dollars for mainland companies, said the acting chief.

Around 500 business leaders and CEOs, representing 1,000 companies of the 20 economies in the PBEC bloc, attended the two-day meeting.

International celebrities including Supachai Panitchpakdi, director-general of the World Trade Organization, Ahmad Badawi, Malaysian prime minister, and Wu Yi, Chinese vice premier, have been invited to deliver key-note speeches.

Source: Xinhua