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Following is the translation of the speech by the Chief Executive, Mr Tung Chee Hwa, at the opening of the 2005 Hong Kong - Zhejiang Week held at the Grand Hyatt Hotel in Hong Kong today (January 17):

Mr Xi Jinping, members of the Zhejiang delegation, ladies and gentlemen,

Today marks the opening of the 2005 Hong Kong - Zhejiang Week. First of all, on behalf of the Hong Kong Special Administrative Region (HKSAR), I extend a warm welcome to the delegation headed by Party Secretary Xi Jinping from the Zhejiang province.

Mr Xi's wonderful speech just now has depicted for us a lively, vibrant, attractive Zhejiang full of business opportunities. Zhejiang has done remarkably well in the drive of opening up, reform and modernisation. We are so pleased by your achievement. At the same time, we appreciate very much the support of our Zhejiang compatriots for the continued prosperity and stability of Hong Kong.

Since our return to the motherland, with the staunch support of the Central Government and concerted efforts of our citizens, the HKSAR Government has adhered to the principles of "One Country, Two Systems", "Hong Kong people running Hong Kong" and a high degree of autonomy. The Government has enabled Hong Kong to further develop as a stable and prosperous society. In particular, the implementation of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) has opened a new chapter for better exchange and co-operation between both sides.

Co-operation between Hong Kong and Zhejiang has a solid foundation. We have many mutually complementary advantages in manufacturing, services and other sectors. I am sure this Hong Kong - Zhejiang Week will bring our partnership to a new level with fruitful results.

I wish the event every success, and a bright future for both Hong Kong and Zhejiang. Thank you.

Ends/Monday, January 17, 2005

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