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Hong Kong should not worry about the implementation of ¡§Three Links¡¨, which, in fact, would bring new momentum and opportunities to the economic development of the Mainland, Taiwan and Hong Kong, the Financial Secretary, Mr John C Tsang, said today (October 29).
Mr Tsang was speaking at a forum held by the Hong Kong Special Administrative Region Government (HKSARG) to explore the economic co-operation and development among the Mainland, Taiwan and Hong Kong.
Delivering welcoming remarks, Mr Tsang said, ¡§ Hong Kong plays a pivotal role in the economic and trade exchanges between the Mainland and Taiwan.
¡§Hong Kong is the major port of interchange for both passengers and trades between the Mainland and Taiwan. Amid the improving cross-strait economic and trade development over recent years, the value of merchandise trade using Hong Kong as the key port of interchange between the Mainland and Taiwan still recorded an annual average growth of 15% between 2002 and 2007. This represented a share growth of 6.5% in 2007 in Hong Kong¡¦s overall foreign trade, compared with5.6% in 2002.¡¨
Stressing that Hong Kong¡¦s status would not be affected following the implementation of ¡§Three Links¡¨, Mr Tsang said, ¡§ From the regional perspectives, such development will bring better cost-effectiveness, more efficient resource allocation and better development of our advantages. This will reinforce our economic momentum, bringing new challenges and opportunities to the three places.¡¨
¡§The Chief Executive mentioned in this year¡¦s Policy Address that we should take note of the latest overall economic development and strategic changes among the Mainland, Taiwan and Hong Kong in the light of the new cross-strait relations.¡¨
Mr Tsang said today¡¦s economic forum was a beginning for the HKSARG in exploring further economic co-operation among the three places to develop long-term opportunities and challenges ahead. This would lead to more exchanges, which would deepen economic co-operation, bringing the economic development to a new and broader platform.
On the global financial turmoil, Mr Tsang appealed for closer and deeper economic co-operation among the Mainland, Taiwan and Hong Kong in order to strengthen the ability to face these difficulties, thus turning challenges into opportunities. This would also be beneficial in sustaining steady economic development.
The forum was organised by the Economic Analysis and Business Facilitation Unit of the Financial Secretary¡¦s Office. Participating speakers included Professor Wang Tongsan, Director of Institute of Quantitative Economics, Chinese Academy of Social Sciences; Professor Kuan Chung Ming, (Joint Appointment) Department of Finance and Department of Economics, National Taiwan University; Professor Wong Yue-chim, Richard, Deputy Vice-Chancellor and Professor of Economics of the University of Hong Kong; Dr Wang Qing, Chief Economist for Greater China of Morgan Stanley; Professor Hua Min, School of Economics, Fudan University, Shanghai; Professor Hsu Chen-min, Department of Economics, National Taiwan University; Professor Feng Bang-yan, Department of Economics, Jinan University; Mr SongYunzhao, Deputy General Manager of Economics and Strategic Planning Department, Bank of China (Hong Kong); Professor Lau Siu-kai of Central Policy Unit.
The speakers generally agreed that there was room for further economic co-operation among the three places to develop ¡§all-win¡¨ relations.
The forum was the first of its kind held by the HKSARG with an aim of exploring new challenges and opportunities by deepening understanding among the three places in the face of the new cross-strait development, with a view to finding a direction for further co-operation and cultivating the potential growth momentum.
Ends/Wednesday, October 29, 2008
Issued at HKT 14:26
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