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A transcript of remarks by Chief Executive Tung Chee Hwa this (October 27) evening before leaving Beijing.

I arrived here yesterday and will be leaving later on today. I had met the Central leadership and reported to them on the development of Hong Kong over the last 12 months. They are very happy and satisfied to see how well the "One Country, Two Systems" is being implemented and how the economy is recovering and how well the social development has been taking place. I also took the opportunity to going to some details about the Policy Speech, especially essential points of the Policy Speech. Central Government leadership is full of confidence as to the future development of the entire Country after China's accession to the WTO, and, of course, the beginning process of the development of the West. I have observed there are really some specific competitive advantages which the Mainland has, and one of them is the abundant supply of quality people. Secondly is, the fact that the infrastructure, the roads, the railways along the coast, as well as many provinces are already very well developed and that the infrastructure, construction of the West is now beginning. And, thirdly is that the Mainland is a huge market, fourthly is that the cost of manufacturing, compared with other places is very competitive, very low. As a result of that, I believe there will be lots of opportunities and I will see a lot of foreign firms coming to the Mainland to invest here. As far as Hong Kong is concerned, we will seize on these great opportunities. We have the advantage of being an international financial centre, centre of transport and logistics for both air and sea, and we have abundance of professionals whose service will be required here on the Mainland. So I share the optimism of the Country's future development and also see great opportunities for Hong Kong as the Country further develops.

Reporter: How do you feel the support given by the Beijing leaders......

Chief Executive: Well, let me say this again. The Central Government initiates support for me, for the HKSAR Government has been very consistent. And also has been consistently steady and very strong such as today, yesterday is being like this, for all the time since the beginning of the SAR Government, and I am delighted to repeat in English that when I decide to participate in the election, when the suitable time comes, I will make an announcement. The decision hasn't been made yet.

Chief Executive's transcript (Chinese part)

End/Friday, October 27, 2000

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Photo(1): President Jiang Zemin meets with Chief Executive Tung Chee Hwa at Zhongnanhai. A courtly handshake sets the scene for a warm reception.

Photo(2): It was a warm reception at Zhong Nan Hai when the Premier, Mr Zhu Rongji, met with the Chief Executive, Mr Tung Chee Hwa.