Hong Kong holds economic summit to plan for future development

Hong Kong Monday kicked off an economic summit with experts and economists from the Chinese mainland to discuss Hong Kong's role in the newly drafted 11th Five-Year Program and its future economic development.

Donald Tsang, the chief executive of Hong Kong Special Administrative Region (HKSAR), said at the opening ceremony that Hong Kong will actively take part in the new development plan and grasp opportunities for future development.

The 11th Five-Year Program (2006-2010), a grand economic development blueprint for China in the coming five years, was endorsed at the fourth session of the 10th National People's Congress on March 14 this year.

Donald Tsang said, "The HKSAR government and all sectors of the HKSAR must study the contents of the 11th Five-Year Program in detail and respond actively and positively to the plan."

He added that HKSAR is clearly included in the Five-Year Program in line with the principle of "One Country, Two Systems", which means the central government will support Hong Kong's financial, logistics, tourism and IT industries and preserve Hong Kong's status as an international financial, trade and shipping center.

Tsang said the discussion will develop in four focus groups, which will concentrate on trade and business, financial services, maritime, logistics and infrastructure and professional services, innovation and technology and tourism.

He hoped the focus groups will be able to come up with strategic recommendations after discussion and eventually compile a practicable and workable action agenda within the year.

Source: Xinhua