Hong Kong officials Tuesday portrayed Hong Kong as an important gateway making telecommunication world closer to Chinese mainland, a fast growing and profitable market in the eyes of the industry.

On the opening ceremony of China Day at the International Telecommunication Union (ITU) Telecom World 2006 in Hong Kong, Henry Tang, Secretary for Finance of Hong Kong government, said when China's information and communication technology (ICT) market is nearing the final stage of liberalization in 2007 under the WTO agreement, Hong Kong's role as a gateway for telecommunication investors to mainland market is gaining more leverage, citing the recent successful listings of major Chinese enterprises on the Hong Kong Stock Exchange and their subsequent access to global markets and funding.

China Day, the first in the history of ITU's Telecom World exhibition in 34 years, is seen as a climax of exchanges between Chinese telecommunication industry and its counterparts around the world.

Secretary for Commerce, Industry and Technology of Hong Kong Joseph Wong followed the key of Henry Tang by noting that "Closer Economic Partnership Agreement", or CEPA, makes Hong Kong to enjoy strong economic growth of Chinese mainland, a large lucrative market for ICT industry.

He said under the CEPA, Hong Kong service suppliers can enjoy preferential access opportunities in 27 service areas on mainland market, including information technology and telecommunications.

According to a survey, the amount of investment in the mainland induced by CEPA in the information technology and telecommunications service areas amounts to some 29 million U.S. dollars in the first two years after CEPA came into effect.

Wong said what more important is the criteria for enjoying CEPA preferences can be applied to foreign-owned companies operating in Hong Kong, who can enjoy the same preferential treatment as that of Hong Kong-owned companies.

Source: Xinhua