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The Chief Executive, Mr Tung Chee Hwa, made the following statement today (September 20) :

I am delighted to learn that the US Senate has passed the bill to grant Permanent Normal Trade Relations (PNTR) status to China. The way is now clear for President Clinton to sign the bill into law. I hope this will happen very soon.

The scene is set for China to complete accession to the World Trade Organisation (WTO). I hope the accession process in Geneva will also be concluded soon.

The granting of PNTR status by the US to China augurs well for Sino-US relations. Hong Kong will obviously stand to benefit from a good and stable relationship between our two largest trading partners.

China's WTO membership will benefit Hong Kong, Asia and the global economy. It will bring both opportunities and challenges to Hong Kong. We believe that Hong Kong will stand to benefit substantially from the new business opportunities. We are also confident that Hong Kong people will be able to overcome the challenges.

End/Wednesday, September 20, 2000

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• PNTR status for China welcomed (20.09.2000)

• Secretary for Commerce and Industry welcomes passage of PNTR Bill by the US Senate (20.09.2000)