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The Chief Executive, Mr Tung Chee Hwa, has today (Thursday) arrived in the Swiss resort town of Davos for a busy three-day programme with global political and business leaders at the World Economic Forum (WEF).

Mr Tung is the first head of government from Hong Kong to attend the prestigious WEF, which this year brings together about 40 government leaders and 1,000 corporate chief executives controlling companies worth of more than US$5,000 billion.

Other economic elite taking part in the week-long event includes finance and trade ministers, central bankers, academics and media leaders. The theme for this year's meeting is: "Responsible Globality: How to Manage the Impact of Globalisation."

The Chief Executive heads a top-level Hong Kong delegation which includes the Secretary for Trade and Industry, Mr Chau Tak Hay, and more than 10 of the SAR's leading corporate executives.

Mr Tung will be a principal speaker at two important WEF sessions, one dealing specifically with Hong Kong's economic recovery and the other on renewing the "Asian economic miracle".

The Chief Executive will be among about 10 economic leaders invited to take part in a 90-minute World Economic Brainstorming session with more than 100 corporate chiefs.

Mr Tung will also host a breakfast meeting for US and European business executives as well as a Hong Kong 'networking' dinner to be attended by about 150 corporate leaders, economists, think-tank members, academics and media leaders.

Also on the CE's agenda are two important WEF dinners for political and economic leaders and a meeting with the HK/EU-EU/HK Business Co-operation Committee, the inaugural plenary session of which was opened in Brussels by the CE during his first European visit in October 1997.

After arriving in Davos today, Mr Tung and STI Mr Chau were welcomed to this year's meeting by WEF President and founder, Professor Klaus Schwab.

Early tomorrow (Friday, HK time), Mr Tung will meet members of the Hong Kong delegation before attending a WEF Dinner hosted by Dr Schwab for economic leaders.

Included in Mr Tung's schedule are bilateral meetings with Singapore's Senior Minister, Mr Lee Kuan Yew; US Assistant Secretary of State for East Asian and Pacific Affairs, Mr Stanley Roth; US Deputy Secretary for the Treasury, Mr Lawrence Summers; and European Central Bank president Dr Wim Duisenberg.

Business leaders in the Hong Kong delegation are: Crosby Financial Holdings chairman, Mr Timothy Beardson; Securities and Futures Commission deputy chairman Laura Cha; Hang Lung Development group chairman Ronnie Chan; USI Holdings chairman Christopher Cheng Wai-chee; Inchcape Pacific chairman and Executive Councillor Raymond Ch'ien, DHL International (HK) chairman Chung Po-yang; Hong Kong Trade Development Council chairman Dr Victor Fung; Taoho Design Architects chairman Dr Tao Ho; Sun Hung Kai Properties vice-chairman Raymond Kwok; Pacific Century Group chairman Richard Li; Hongkong and Shanghai Banking Corporation chief executive officer Aman Mehta; Dah Sing Financial Holdings chairman David Wong and KCRC chairman K Y Yeung.

End/Thursday, January 28, 1999

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