Hong Kong is playing an increasingly active role in the Pan-Pearl River Delta (PPRD) framework, aiming to further boost its economy by making good use of its links with the mainland, according to sources with an ongoing forum being held in Chengdu, capital of southwest China's Sichuan Province.

"Hong Kong is firmly positive about participating in the PPRD framework and would like to help further develop the PPRD region," said Donald Tsang, chief executive of the Hong Kong Special Administrative Region, at the forum here, expressing hope that a booming PPRD region will serve as the engine powering the Hong Kong economy.

Tsang is leading a huge entourage consisting of high-ranking government officials and business people to attend the Second PPRD Regional Cooperation and Development Forum held here from Monday to Thursday, demonstrating Hong Kong's ambition to further integrate into the regional economic entity and strengthen links with the mainland.

The PPRD region occupies 20 percent of the national land, homes over one third of the national population and contributes to more than 40 percent to the national gross domestic product. It is currently China's largest regional economic entity.

Till now, Hong Kong has invested some 250 billion US dollars in the mainland, with 60 percent of the capital being poured into the PPRD region to establish some 130,000 enterprises.

Since the PPRD framework, encompassing nine mainland provinces or autonomous region as well as Hong Kong and Macao, was launched last year, Hong Kong has attracted an investment worth of some 114 million yuan

(14.06 million US dollars) from the nine mainland PPRD members, according to Hong Kong's Commerce, Industry and Technology Bureau.

Currently, about 80 enterprises from the nine mainland PPRD members are listed at the Hong Kong Stock Exchange and the number is widely expected to grow further, according to Frederick S. Ma, Hong Kong's secretary for financial services and treasury.

"Being traded at the Hong Kong Stock Exchange will familiarize the PPRD enterprises with international financial practices and enhance the credibility of the listed companies among overseas investors," said Ma.

In addition to appealing the mainland PPRD members with its strong financial and services industries, Hong Kong also demonstrated much enthusiasm in teaming up with other members to establish an effective mechanism to coordinate regional cooperation and development as well as foster a common market in the region.

As a matter of fact, the connections between Hong Kong and the mainland have been continuously strengthened since the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) was launched, fundamentally shifting Hong Kong from a China gateway to an integral part of the national economy.

From August to December 2004, 68 mainland enterprises entered Hong Kong, bringing investment worth 470 million US dollars, accounting for 48.9 percent of the annual total. During the first quarter of this year, 55 companies from the mainland extended their reaches to Hong Kong, with investment reaching 280 million US dollars, a big improvement lead by the CEPA.

"We hope the PPRD region will take the lead to implement the CEPA," said Tsang at the forum.

Source: Xinhua