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More than 300 leaders from the Government, diplomatic, finance, business and academic sectors as well as media representatives in the Association of South East Asian Nations (ASEAN) today (June 28) gathered in Singapore to celebrate the 10th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR) at a reception organised by the Hong Kong Economic and Trade Office (HKETO) in Singapore.
Dignitaries included Chinese Ambassador in Singapore Zhang Xiaokang, and Senior Minister of State (Foreign Affairs), Singapore, Dr Balaji Sadasivan.
The highlight of the evening was a performance by seven students from the Hong Kong Academy for Performing Arts. The dizi performance, soprano solo and modern dance staged by the students won enthusiastic applause of the guests.
The guests who attended the reception were also impressed with the achievements of the HKSAR through watching the videos of the 10th anniversary theme song "Just Because You Are Here", and "Challenge Met". They noted the importance of Hong Kong as a strategic gateway to mainland China as they viewed the display panels of the HKSAR 10th anniversary special exhibition.
The exhibition showcases the successful implementation of the "One Country, Two Systems" principle, as well as the achievements of the HKSAR in areas such as economy, trade, tourism, culture, environmental protection and co-operation with the Mainland in the past 10 years since its reunification with China.
In his welcoming address, the Director of the HKETO, Mr K K Lam, said that compared to 1997, the Hong Kong economy today marked a clear improvement. In 2006, Hong Kong's total external trade hit US$641.8 billion, almost twice the figure of US$372.3 billion for 1997. Hong Kong's GDP per capita also increased to US$27,600, despite Hong Kong having to weather many major events during the decade.
"As an international financial centre, Hong Kong has the world's eighth largest stock market by capitalisation. The market cap is now four times greater than in 1997. Hong Kong is now the world's second largest market for IPOs. Hong Kong is also the worldˇ¦s 11th largest trading economy, and the number of foreign companies that have set up regional headquarters and offices has risen by more than 50% to more than 3,800.
"What really makes Hong Kong tick is the success of the 'One Country, Two Systems' concept, which, as enshrined in the Basic Law, has ensured that a high degree of autonomy, rights and freedoms of Hong Kong people, free market economy, and Hong Kong's own legal system has been preserved. As a result, Hong Kong continues to be characterised by the rule of law, level playing field for business, a clean and efficient government, as well as free flow of information, capital, people and goods. Since 1995, the Heritage Foundation has ranked Hong Kong as the 'World's Freest Economy' for 13 consecutive years.
"Over the decade, Hong Kong has continued to benefit from closer ties with the booming Chinese economy. Reunification with China means Hong Kong is now better placed than ever to provide support for China's rapid economic development, through leveraging its status as an international hub of financial services, logistics, trade and tourism," Mr Lam said.
To sustain the efforts to raise the profile of the HKSAR for the 10th anniversary occasion, the HKETO will also partner the Singapore Chinese Chamber of Commerce and Industry to organise a business forum next month (July) in Singapore featuring prominent speakers from Hong Kong and Singapore. It aims to focus ASEAN businessmen's attention on the significant roles of Hong Kong in bridging Mainland China and the region.
On the cultural side, a Hong Kong Film Festival will be launched in Singapore in September to showcase 10 Hong Kong productions in the last decade and to introduce a diverse spectrum of Hong Kong films.
The HKSAR 10th anniversary special exhibition was also staged at the Putra World Trade Centre, one of the major convention and exhibition venues in Kuala Lumpur between June 22 and 24 to focus the Malaysians' interest in Hong Kong.
Ends/Thursday, June 28, 2007
Issued at HKT 20:58
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