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The Chief Executive, Mr Tung Chee Hwa, and his Council of International Advisers ended a two-day meeting in Hong Kong and Guangzhou today (November 4).

They discussed the opportunities and challenges the global and regional developments were bringing to Hong Kong, in particular Hong Kong's role in the development of the Greater Pearl River Delta (PRD) and Pan-PRD.

The council held part of its meeting - its seventh annual gathering - in Guangzhou for the first time so members could witness the complementary relationship between Hong Kong and Guangdong as well as the potential of their co-operation in developing the Greater PRD into one of the world's most vibrant economic hubs within the next two decades.

Hong Kong and Guangdong reached a consensus in August last year on a new direction for enhanced co-operation with Guangdong focusing on manufacturing industries while Hong Kong developing itself into a modern services centre excelling in financial, business, transportation, logistics and high value-added services.

The Greater PRD collaboration has further expanded into the Pan-PRD co-operation, comprising nine provinces as well as the Hong Kong and Macau Special Administrative Regions. The first Pan-PRD Regional Co-operation and Development Forum was held in Hong Kong in June this year.

At the first session of the meeting held in Hong Kong yesterday, members had an in-depth and productive exchange of views on the developments in the Greater PRD and Pan-PRD, the global and regional economic outlook, the energy market in particular oil prices, international trade and monetary issues as well as their impact on Hong Kong.

Financial Secretary Mr Henry Tang updated the council on Hong Kong's latest economic performance and opportunities brought about by the Closer Economic Partnership Arrangement (CEPA).

Sun Hung Kai Professor of Business Administration of the University of Hong Kong, Professor Michael Enright, gave a presentation on the economic development of the Greater PRD and Pan-PRD and Secretary for Constitutional Affairs, Mr Stephen Lam, briefed the council on constitutional developments in Hong Kong.

During the second session of the meeting in Guangzhou, the Guangdong Governor, Mr Huang Huahua, gave a comprehensive briefing on Guangdong's latest economic performance, Hong Kong-Guangdong co-operation and the opportunities presented by developments in the Greater PRD and Pan-PRD.

After the meeting, Member of the Political Bureau of the Communist Party of China Central Committee and the Secretary of the Guangdong Provincial Party Committee, Mr Zhang Dejiang, met members of the Council and hosted a lunch for them.

The nine international advisers joining the meeting were the Chairman of the Supervisory Board of Siemens AG, Dr Karl-Hermann Baumann, Group Chairman of HSBC Holdings plc Sir John Bond, President and Co-Chief Executive Officer of Power Corporation of Canada Mr Andre Desmarais, Chairman of the Supervisory Board of DaimlerChrysler AG Mr Hilmar Kopper; the Chairman and Chief Executive Officer of Suez, Mr Gerard Mestrallet, Group Managing Director of the Royal Dutch/Shell Group of Companies Mr Rob Routs, Chairman of BP plc Mr Peter Sutherland, Senior Adviser to the Bank of Tokyo-Mitsubishi Ltd Mr Tasuku Takagaki and the Honorary Chairman of Toyota Motor Corporation, Dr Shoichiro Toyoda.

The President, Chief Executive Officer and Chairman of the Board of Management of Royal Philips Electronics, Mr Gerard Kleisterlee, was newly appointed to the council this year.

The advisers will visit some businesses in Guangzhou, Dongguan and Shenzhen this afternoon to learn more about Hong Kong's contribution to the developments in the Greater PRD, including high-tech enterprises and a shoe-making factory.

The council was established in 1998 to advise the Chief Executive from an international perspective on strategies for the long-term development of Hong Kong.

Ends/Thursday, November 4, 2004

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News clip (Real Media/Windows Media)