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Following is the speech (translation) by the Chief Executive, Mr Tung Chee Hwa, at the KCR West Rail inauguration ceremony this (December 20) morning:
Mr Tien, distinguished guests and friends,
It gives me great pleasure to officiate at the opening ceremony of West Rail. This new means of transport offering fast, comfortable, reliable and environmentally-friendly services to passengers commuting between the Northwest New Territories and Kowloon downtown will facilitate the development of the Northwest New Territories.
Over the last few years, the Asian financial turmoil and the bursting of the bubble economy in Hong Kong have led to a slump in property prices and persistent deflation. In addition, with the advent of globalisation, industrial processes have migrated from Hong Kong and other high-cost areas to low-cost areas. As a result, Hong Kong suffers from rising unemployment and declining wages. Our traditional advantages and position are facing a challenge. Indeed, Hong Kong has been going through a painful and profound economic restructuring.
However, we are glad that with the staunch support of the Central Government and the concerted efforts of the Hong Kong people, our economy has turned the corner. Gross Domestic Product rose by 4% in the third quarter of this year. Exports have registered double-digit growth and there has been a sharp upturn of demand in the services sector. Unemployment has edged down while our stock market is trending up. The property market has bottomed out. Most importantly, confidence is returning. Of course economic restructuring will take more time, but I know the worst is over. Recovery is gathering momentum and the future is bright.
To sustain our economic growth, the SAR Government will continue to invest heavily in domestic and cross-boundary transportation infrastructure. Within Hong Kong, after the commission of West Rail, rail projects in the pipeline in the years ahead include the Tsim Sha Tsui Extention, the Ma On Shan Rail Link, the Kowloon Southern Link and the Shatin-Central Link. Major highways including the Deep Bay Link and Route 9 connecting Tsing Yi and Shatin will be completed and opened to traffic. As for cross-boundary links, we have the Sheung Shui to Lok Ma Chau Spur Line, the Shenzhen Western Corridor, the HK-Zhuhai-Macau Bridge, two new boundary bridges at Lok Ma Chau-Huanggang and Sha Tau Kok, and the express-rail link between Hong Kong and Guangzhou. They will strengthen the ties between Hong Kong and the Pearl River Delta (PRD) region, enabling more swift and convenient flows of passengers and goods. This is conducive to the creation of a greater PRD economy and to sustaining Hong Kong's economic growth.
West Rail is the largest infrastructure project since the Hong Kong International Airport. On its route is the 5.5-km Tai Lam Tunnel linking Tsuen Wan to Kam Tin, the longest transportation tunnel in Hong Kong. The viaduct connecting Kam Sheung Road Station and Tuen Mun Station is over 13 km, making it the longest bridge in Hong Kong. In addition, the 2-km Kwai Tsing Tunnel between Mei Foo Station and Tsuen Wan West Station was the first of its kind to use advanced hybrid boring technology. It effectively minimised the traffic chaos that might have resulted if conventional methods had been used. These sophisticated works speak volumes for the superior level of professional engineering in Hong Kong, Asia's world city.
Overcoming technical difficulties was but one prerequisite for the completion of West Rail. Most important of all was the understanding and support shown by the residents who were affected by the construction works. I expect the KCRC to repay our citizens with service, safety and efficiency of the highest standard.
Lastly, a big thank you to all who have taken part in the project, including the KCRC Chairman, its Board of Directors, management and staff, and staff of the Government and the various contractors. Well done! Let me tell you, the whole community takes pride in your achievement. I am sure you will demonstrate the same professionalism and quest for excellence in your future endeavours and contribute to the creation of a more prosperous Hong Kong.
Thank you very much.
Ends/Saturday, December 20, 2003
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