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Following is the transcript of remarks at a media session given by the Financial Secretary, Mr Henry Tang, on the Heritage Foundation's ranking of Hong Kong as the world's freest economy at the lobby of the Central Government Offices this afternoon (January 4) (English portion):

Reporter: What do you think about the Heritage Foundation's results on Hong Kong?

Financial Secretary: Heritage Foundation announced this morning its "2005 Index of Economic Freedom" and ranked Hong Kong for the 11th year in a row as the freest economy in the world. We welcome this ranking. We have worked very hard for it and Hong Kong's virtues as stated in the report include protection of property rights, free flow of capital and low level of intervention. All of these contribute to our success. We will remain vigilant. We will not be complacent and will continue to look for further improvement.

Reporter: Do you think that the delay of The Link REIT might affect the ranking of Hong Kong in future?

Financial Secretary: No, because The Link REIT is still on track pending the outcome of the appeal. Two (levels of) court have already ruled that The Link REIT is legal and therefore, we remain committed to floating The Link REIT.

(Please also refer to the Chinese portion of the transcript.)

Ends/Tuesday, January 4, 2005

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