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The following is the closing remarks delivered by the Secretary for Financial Services, Mr Stephen Ip, at the Asia and Global Finance Seminar today (May 8):

Distinguished Guests, Ladies and Gentlemen:

I hope you have all enjoyed the programme today. Asia is a dynamic region, while the world of finance full of innovation and energy. Our Seminar organiser and advisers have put these two topics together and given us a pretty intensive experience.

In just one morning we heard from 15 prominent speakers, panellists, and discussants coming from the Mainland, Japan, Singapore and the United States. There are loads of food for thoughts. We are not here to engage in crystal ball gazing, but I am sure everyone of us here has benefited from the candid and high-level exchange of views on Asia and global finance.

The topics covered today reflect the abundance of opportunities in Asia. As our first panel discussants made clear, Asia is posed for another take-off. The Mainland of China is very much enjoying the fruits of its two decades of reform, and charging ahead with more. A number of speakers have already touched on China's imminent accession to WTO and its global significance. It will no doubt provide a momentous start to the new century. I would like to thank our keynote speaker Governor Dai Xianglong, Chairman Zhou Xiaochuan, and Governor Chen Yuan, among others, for their insights into reforms in China. I am lucky to have the chance of sitting next to Minister Wang Qishan just now and have benefitted a lot from his insights.

We are also fortunate today to have two key policy-makers from Japan, Mr. Shiozaki and Mr. Horii, together with the Managing Director of MAS, Tharman, and our local experts to share with us their views on financial developments in Asia.

We must also of course thank Mr Mickey Kantor for his excellent speech just now. Mickey has so eloquently put it just now, financial development in Asia is happening fast in the context of globalisation. The presence of so many international financiers as well as entrepreneurs today is perhaps the best proof of the scale and importance of cross-border activities.

Hong Kong is honoured and fortunate to be second home to a great many of you, and as host to even more when you come to Asia. It is the international character plus easy, constant contact with the rest of China that makes us unique. I hope you will all agree with me that Hong Kong financiers and entrepreneurs are good partners, and our city a great place to work hard, to play golf and to make money.

Once again, I would like to congratulate the Seminar organiser, advisers, and sponsors for putting together this fantastic event, and to thank all the speakers, moderators, panellists and participants for making this Seminar a great success.

Ladies and gentlemen, thank you for joining us, and I hope to see you again soon.

End/Tuesday, May 8, 2001

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