******************************************************
Following is the speech by the Chief Executive, Mr Donald Tsang, at Hong Kong Trade Development Council (HKTDC) Annual Dinner in London today (September 13, London time):
Your Excellency, Ambassador, My Lords, Jack (So), distinguished guests, ladies and gentlemen,
I am sure you have heard the old expression that "all good things must come to an end".
And that's why tonight is such a bitter-sweet moment for me - because this will be the last time that I have the pleasure of regaling you all with tales about Hong Kong from this speaker's rostrum.
This is my sixth appearance at this flagship event since my first speech here back in 1999 as Financial Secretary. I have always thoroughly enjoyed coming here. And I am rather chuffed that I have been able to eclipse the records of not one but two previous Governors - Lord Wilson and Chris Patten - who each managed to speak at five HKTDC Dinners in the 10 years from 1987 to 1996.
Some of you may know that today is a public holiday in Hong Kong. It is the day after our Mid-Autumn Festival, a time when families always come together. So it is very fitting that when families in Hong Kong are celebrating this special time of the year, I am able to spend some time with our extended Hong Kong family here in the UK. I understand that tonight's dinner - in terms of numbers attending - is also setting a new record. Thank you all for coming tonight.
Looking around, there are a lot of familiar, friendly faces. Thanks to the TDC's superb efforts for this year's "Think Asia, Think Hong Kong" campaign, there are also a lot of new faces joining us tonight to hear more about Hong Kong and what we have to offer.
There are far too many good friends of Hong Kong here to mention you all, and to thank you all - but I want to mention one in particular and that is Baroness Lydia Dunn. It was Lydia's foresight that saw the need for this special gathering back in 1983 - at a time when there were considerable anxieties about Hong Kong's future. Thank you Lydia for starting this tradition, and for being such a great ambassador for Hong Kong.
Since that first London TDC Dinner, the Government leadership in Hong Kong has always made good use of this excellent platform to update, and sometimes reassure, our friends here in Britain about the latest developments in our great city.
The TDC Dinner is also the longest running event of its kind for Hong Kong in the world. This speaks volumes not only for the work of the TDC, but also about the strength of the bonds between Britain and Hong Kong - bonds which go back some 170 years.
There are, of course, strong bonds in business. There are strong legal and institutional bonds. There are strong bonds in education. There are strong bonds between families and friends. They are all part of the DNA that makes Hong Kong what it is today.
We cannot deny the British influence in Hong Kong - just as we cannot deny our Chinese heritage. We are the embodiment of East and West. This is what makes Hong Kong such a beguiling and unique city.
It is also why "One Country, Two Systems" is such a fascinating and important undertaking - it enables our existence as a Special Administrative Region of China under "One Country"; at the same time, it acknowledges the British legacy in Hong Kong by legally protecting our different systems and way of life in our constitutional document, the Basic Law.
As fate would have it, Hong Kong has been truly blessed with the best of both worlds. And it is our unique Hong Kong DNA - our defining characteristics - that I would like to talk about tonight.
I do not want to bombard you with facts and figures, or the latest GDP growth figures or how we earn our triple-A credit rating. I do not want to talk about trade or finance in any great detail. What I want to do is speak from the heart, and to talk about some of the things I love about Hong Kong.
It will come as no surprise that I love my home and my people. I live in one of the world's most dynamic and vibrant cities - a place with a restless energy and relentless drive to keep improving and moving ahead. I have the honour and privilege of serving the seven million people who made our city what it is today - a free, open, diverse and overt society that flourishes in the modern world but never forgets its ancient roots.
Our best assets by far are our people and the values we cherish. Without the talent we have in Hong Kong - our human capital - we would amount to naught. Our values are the essence that binds us together as a community, as well as a distinct advantage.
Hong Kong people have an extraordinary work ethic. One of my greatest responsibilities as Chief Executive is to ensure that there are enough job opportunities for everyone. That's because we know that people just don't want to make a living, they also want to keep their dignity through honest work.
One way we help our people achieve this is by investing billions in infrastructure - this not only provides job opportunities, it also upgrades our cityscape and keeps our economy competitive. We invest billions in education and vocational training to equip our people with the skills and knowledge they need to compete in the global economy. Our evolution as a highly externally oriented economy - where services account for almost 95 per cent of our GDP - has nurtured a society that values hard work, but is also flexible and responsive.
Hong Kong people are voracious consumers of news and information and perhaps that's one reason why we are Asia's international media hub. Newspapers, magazines, TV, radio, Internet, mobile phone apps, iPads or Androids - if it has some information we can use or re-use then we want to see it, read it, hear it. We are always eager to find out what's going on in the community and in the rest of the world. It helps us keep abreast of the latest trends and developments. An informed community is an empowered community. And that's why people in Hong Kong have an opinion about almost everything!
This unfettered access to information is a key element of our success. Businesses and investors need quick, easy and reliable access to information so they can make sensible and informed decisions. Freedom of the press and free access to information are treasured by society because we deeply understand their value to business, and their importance in keeping the Government honest, accountable and responsive.
This next bit might sound odd, but I love the fact that whenever I visit my favourite noodle shop in Central, and even in the New Territories, the owner makes me line-up just like everybody else! Standing in line is not much fun, but it says a lot about how much people value fairness and a level playing field in our community. There are very strong feelings against favouritism or corruption - we know from bitter experience the terrible consequences that this causes for business as well as individuals. It doesn't matter who you are, the same rules apply to everyone - and that includes joining your place in the queue to get your favourite bowl of "won ton" noodles.
That is why we also place so much faith and trust in our legal system and judiciary. We are fortunate to have such a high concentration of legal expertise and ability in our city - handling everything from simple conveyancing work to international shipping law and complicated, multi-party, multi-jurisdiction financing deals. Hong Kong people are always quick to speak out against any perceived erosion of our legal autonomy and judicial independence. That's because we strongly believe in the rule of law and understand fully that this will always be a crucial aspect of our value systems and a reason for our continuing success.
I love the connectivity of Hong Kong. Walk around the city centre and you will find escalators, bridges and elevated walkways helping people navigate the CBD with a minimum of fuss. Our subway system is, I think, one of the best anywhere - clean, safe, efficient and excellent value for money. Our much-loved trams and star ferries provide visitors and locals with one of the most quaint but effective ways to see our city - and they would have to rate among the best-value public transport options in the world. Our container port remains one of the world's busiest and most efficient. Our fantastic airport serves over 150 destinations world-wide and lies at the heart of Asia - within a five-hour flight of half the world's population. We are well connected to the Mainland of China, and especially the Pearl River Delta, and work hard to improve these links all the time. Our physical connectivity is up there with the best the world has to offer.
But connectivity is about more than just planes, trains and automobiles - it's also about the ease at which we can communicate with each other, share ideas and conduct business. Walk down any street in Hong Kong and you'll swear that everyone was born with a mobile phone glued to their ear! We have a highly competitive telecoms sector that keeps phone charges very low. Nearly every business and high-rise has access to high-speed broadband. And you'll find Wi-Fi hotspots all around the city providing free Internet access. In Hong Kong, you can sit on a park bench, turn on your laptop, access your skype account, and talk to friends or clients in London or New York if you want to.
I love the efficiency of Hong Kong. Because we've been plugged into the global market for so long, we all seem to have a built-in gene that screams "Do it now!" and "Time is money!". People understand the need for quick, hassle-free, quality and effective service. We set the bar high and are disappointed if we don't meet expectations. You can start a business in a day if you need to. And when you come back to Hong Kong from long trip, you can clear Immigration in a matter of minutes with your Smart ID card.
Interestingly, such impatience, such passion, such lifestyle does not seem to wear Hong Kong down. Our people enjoy almost the highest life expectancy in the world!
I love the fact that Hong Kong has a distinct culture that absorbs and adapts influences from around the globe. The fact that we are so open and well connected, coupled with our Chinese culture and traditions, provides all the ingredients needed for creativity and innovation to flourish. You see it in our movies. You hear it in our music. You experience it with our design. You taste it in our restaurants. And when you come to live in Hong Kong you become part of that equation. Your experience, your views, your take on life, your way of doing things all gets mixed up into the local culture.
Some of you might know that I enjoy bird-watching. But you probably don't know that Hong Kong is home to over one third of all the bird species in China as well as rare butterflies, dragonflies and amphibians. I love the fact that Hong Kong surprises so many people with its natural beauty and heritage - from our iconic harbour, to the jade-green hills of our country parks, to the crystal-clear waters of white sandy beaches, and the geological splendour of ancient rock formations. You are never far from nature in Hong Kong. Large swathes of green space occupy about 70 per cent of Hong Kong's land area. They provide a cool and calming contrast to the hustle and bustle of Central or Kowloon. People who live in Hong Kong will tell you that our countryside and our beautiful waterways and beaches are some of the best things about our city - and it sets Hong Kong apart in Asia.
I love the fact that you get to keep most of what you earn. I think that is a great incentive for people to work, and for companies to invest in people and research. We keep it simple in Hong Kong - maximum 15 per cent salaries tax; maximum 16.5 per cent corporate profits tax. No VAT, no capital gains, no death duties, no tax on dividends or interest, and only income sourced in Hong Kong is taxable.
I love the fact that Hong Kong is never really satisfied with what we've got or achieved. We're always trying to improve and do better. Some people think we're a little manic, that we worry too much about the future. Maybe that's true. But we haven't got to where we are today by resting on our laurels or taking it easy. We benchmark ourselves against the rest and best of the world, and try to excel them. What that means is a relentless pursuit of quality, innovation and enhancement - whether that be our physical infrastructure, our regulatory regime, our business environment or the development of our cultural and creative sectors.
I love the fact that Hong Kong is now able to play a fuller and more natural role in the opening up and reform of our country. Over the past 30 years, Hong Kong entities have invested more than 280 billion pounds in new buildings and infrastructure, new factories and shops, new equipment and plant on the Mainland. Hong Kong is still the biggest single investor in all of Mainland China. That investment has helped to upgrade living standards, upgrade industrial capacity, upgrade quality control, upgrade supply chains and upgrade productivity. At the same time, it has spurred investments of 210 billion pounds by Chinese companies in Hong Kong - now, our biggest source of inward investment also.
But since 1997 we've had even more opportunities to help with this process. Fourteen years after Reunification, we have a much deeper understanding of the profound advantage that "One Country, Two Systems" is building onto our lives and economy. Our role and functions are spelt out clearly in the Basic Law, and we must preserve all the rights and freedoms we enjoy - the value systems that define us as Hong Kong - because this is what sets us apart from all the competition. This is our destiny. We are part of China, a city with a unique skills set and experience - with our own laws, own systems and a global outlook. We must use these for our benefit, and for the benefit of our country.
Ladies and gentlemen, this is just some of what I love about Hong Kong, and admire about Hong Kong people. I am sure that some of you here tonight will identify with what I have said. For those of you who might be contemplating a move to Hong Kong, I urge you to look at the whole package we offer - not just the business and taxation environment which is extremely competitive; but more importantly the type of society and community you will be stepping into. A society that values hard work, freedom, fairness, openness and diversity. A society that vigorously defends the rule of law. A society where your skills, expertise, knowledge and outlook will be welcomed. And once you make the move, I am sure you will love it too.
Thank you very much.
Ends/Wednesday, September 14, 2011
Issued at HKT 05:36
NNNN
Windows Media format
Flash format
