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China's Ambassador Extraordinary and Plenipotentiary to Canada, Mr Zhang Junsai, today (February 23, Toronto time) spoke highly about Hong Kong's gateway role in China's modernisation and economic development at a fully-packed business luncheon in Toronto.
"Shanghai is China's Toronto. It's a kind of business atmosphere that is very strong," said the Ambassador. "Hong Kong, however, is a place that is very important to China's economic reform and its open door policy.
"As Vancouver is a gateway to Canada and the Pacific, Hong Kong is a gateway to China and the rest of the world," he said.
Ambassador Zhang, who took up his appointment in Ottawa last November, was speaking at a luncheon for 350 people coordinated by the Hong Kong Economic and Trade Office (HKETO) in Toronto. The luncheon was jointly presented by the Hong Kong-Canada Business Association, Ontario Chamber of Commerce, the Investment Industry Association of Canada, and Supply Chain and Logistics Association Canada, and supported by 10 Chinese business associations.
He spoke about the new global economic order and China's economic landscape, as well as Hong Kong's role in China's economic development. He also shared his vision of Canada-China bilateral trade to the audience, including leaders from the political and various business sectors.
"China has mapped out its course and strategic missions for the next five years. We'll continue to focus on transforming the economic growth model, deepening reform and opening up, protect and improve people's livelihood, and in doing so, promote both long term steady growth and fast growth of our economy," the Ambassador said.
In 2010, two-way trade between Canada and China reached US$36 billion, a sharp 20% increase. "This, however, was only 1.2% of China's total foreign trade and 5% of that of Canada."
As China's former ambassador to Australia, he pointed out that China's trade with Canada was only around 40% of the country's trade with Australia.
The Ambassador described Hong Kong as one of the top three world financial hubs, which has served as "the window for mainland China's reform and opening up, attracting foreign investment and the major platform for Chinese companies to go public.
"At present, Hong Kong is China's primary intermediary for overseas investment," he said. "It will continue to play a significant role in China's economic development."
The HKETO Director, Ms Maureen Siu, said in her remarks at the luncheon that Hong Kong has been rated as the freest economy in the world by Fraser Institute since the Canadian think-tank started the ranking decades ago.
Ends/Thursday, February 24, 2011
Issued at HKT 11:22
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