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Following is the speech by the Financial Secretary, Mr John C Tsang, at the City Contemporary Dance Company's performance of Silver Rain at Warner Theatre in Washington, DC, USA on October 21 (Washington, DC time):
Margaret, thank you for the kind introduction.
It gives me great pleasure every time I visit the United States.
I am particularly happy to have the opportunity to come to Washington at the time when the Hong Kong Special Administrative Region celebrates the 10th anniversary of its establishment. It is a milestone in the Hong Kong story. Thanks to my colleagues at the Hong Kong Economic and Trade Office here in Washington, I am here tonight to officiate at a performance of Hong Kong's celebrated City Contemporary Dance Company in the historic Warner Theatre.
The company was formed in 1979 and has established itself as the flagship dance company in the territory. Many consider the company "the artistic soul" of Hong Kong, a reputation the company enjoys beyond the 400 square miles that we call home. The company has made, so far, more than 60 overseas tours to major cities in the world. Their performance at the John F Kennedy Centre back in October, 2005, was a massive success. I believe it is by no means an exaggeration to say that the company is a world-class performing troupe, despite its relatively short history.
For those who have been to Hong Kong, it is easy to see what inspires our performing artists. Hong Kong is a modern metropolis that embraces the fundamental values of liberty and equality to the fullest extent. In Hong Kong, information flows freely and ideas flourish. Our creative community draws from a cultural landscape shaped by a pulsating, cosmopolitan lifestyle.
The company's exuberant performers not only convey the soul of Hong Kong's artistic expression, but also epitomise the vigour of the Hong Kong spirit. It is the can-do spirit of Hong Kong people that has allowed the former fishing village to emerge as one of the most dynamic international financial centres, and testament to the benefits of free trade.
Ten years ago when people were still pondering Hong Kong's future, we found ourselves swept up in the contagion of the Asian Financial Crisis. From there, the Hong Kong community continued to be tested by the repercussions of SARS, avian influenza and the global downturn following the burst of the IT bubble.
Yet through it all, Hong Kong persevered - adapting to the challenges of globalisation and its unintended consequences. Today, Hong Kong is recognised as the world's freest economy by such prominent Washington-based institutions as the Heritage Foundation and the Cato Institute as well as the Fraser Institute of your northern neighbour. It is an honour that we value, but do not take for granted.
We know full well that such accolades are based on our steadfast adherence to our core values: the rule of law, free-market principles, an independent judiciary, a level playing field, the free flow of information, and a clean and transparent government.
These values, shared by the United States and Hong Kong, strengthen our unique bilateral relationship. Over the years, the United States and Hong Kong have sustained close economic and trade relations. The United States continues to be our second largest trading partner. American companies also maintain the highest number of regional operations in Hong Kong among our major trading partners.
But the relationship goes beyond economics and trade. Hong Kong has proved to be an effective and valued partner in combating terrorist activity. As a major international financial centre and a responsible member of the international community, we recognise the risks inherent in the flow of capital and have built up a robust and comprehensive anti-money laundering and counter-terrorist financing regime. It is a task we whole-heartedly take up.
Situated in the midst of an increasingly competitive regional market, Hong Kong is determined to enhance its competitiveness by leveraging on our strengths. As part of our strategy, Hong Kong aims to capitalise on the burgeoning economy of Mainland China to become our nation's global financial centre.
Since its inception 10 years ago, the Hong Kong Special Administrative Region has weathered many trials. Given our track record, I am confident that with our fundamentals intact, Hong Kong's competitive spirit will endure to the benefit of its people.
Ladies and Gentlemen, please sit back and enjoy the performance of the artistic soul of Hong Kong.
Thank you.
Ends/Monday, October 22, 2007
Issued at HKT 14:30
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