************************************************

    Following is the speech by the Acting Chief Executive, Mr Donald Tsang, at the Grand Opening of Entertainment Expo tonight (March 21):

Peter, ladies and gentlemen, good evening.

    I am delighted to be here at the Grand Opening of the Entertainment Expo Hong Kong -- the first of its kind -- pulling together the film, video, digital entertainment and music industries into one mega-event.  And I would like to welcome all of our out-of-town visitors to Asia's world city.  Hong Kong is indeed a vibrant and lively place.  During your stay, you'll have a chance to see that life here is almost as action-packed as a made-in-Hong Kong kung fu movie.  

    This Entertainment Expo will be a celebration of the ingenuity and creativity of the people of Hong Kong, as well as a tribute to the talent of Asia's entertainment industry.  It will also be a tremendous platform for cultivating business and cultural exchanges.

    Reflecting on his brilliant film career, Charlie Chaplin once said, "I went into the business for the money, and the art grew out of it."  Certainly, Chaplin's artistry was unparalleled, so whatever his motivation, we are thankful.   Many other artists take up creative endeavours simply for the love of it, and earn a living in the process.  But, no matter which angle you approach it from, art and business are inextricably linked - more so today than ever before.

    As Irving Berlin wrote, "There's no business like show business," and it does, in fact, create enormous economic value.  In Hong Kong, the film industry generates some HK$1.4 billion a year, the broadcasting sector another HK$3.7 billion.  In 2003, the value of our exports of audiovisual products reached HK$1 billion.  These are impressive figures by any standard, and there is plenty of room for further growth.

    Take the digital entertainment industry, for example.  According to a recent survey, Hong Kong people's total spending on digital game products is predicted to reach HK$5 billion a year.  Hong Kong now has about 200 companies engaged in digital video game development, computer animation and digital special effects.

    In today's globalised knowledge economy, the many cultural and creative industries are becoming increasingly important economic drivers.  The Hong Kong Government recognises this fact, and we will continue to build a favourable environment for these industries to flourish.  At the same time, we will keep up our rigorous efforts to protect intellectual property rights.  But the key to success is the urge for excellence of the industries' practitioners themselves.

    Before Bruce Lee rose to superstardom, he was reported to have told Mr Raymond Chow "You just wait, I'm going to be the biggest Chinese star in the world."  He did, of course, accomplish what he set out to do.  And we did not have to wait long to see other talented Hong Kong actors, directors, production people, composers and musicians step into the spotlight on the international stage.  Some of them are here this evening, and a few will even join us onstage.

    Ladies and gentlemen, the future looks bright indeed.  Many possibilities lie ahead - big possibilities.  As the Carpenters' song says, "We've only just begun."  So let's all keep working at it.  Meanwhile, I hope you have a great time this evening - and for the duration of Entertainment Expo Hong Kong.

    Thank you very much.

Ends/Monday, March 21, 2005

NNNN

News clip (Real Media/Windows Media)