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Following is the speech by the Chief Executive, Mr Tung Chee Hwa, at the dinner for the President of the United States, Mr Bill Clinton, tonight (Thursday):
President Clinton, Mrs Clinton, distinguished guests, ladies and gentlemen,
First of all Mr President, may I, on behalf of all Hong Kong people, extend our sincerest and warmest welcome to you and Mrs Clinton.
It is indeed a great pleasure and an honour to see you here in Hong Kong - the first serving US President to make such a visit. And although your time here is short, I hope you and Mrs Clinton will leave with memories to last a lifetime.
Mr President, as you know, your visit comes at an especially significant time in Hong Kong's history. We are celebrating our first anniversary as a Special Administrative Region of the People's Republic of China. Like the Reunification itself just a year and one day ago, our first anniversary was a day of great pride. Pride in that after 156 years of separation, we are at last reunited with our own country. We are Chinese and like you, Americans, our patriotic feelings is something very natural to us. We were saddened by China's past humiliations and rejoice and take pride now in her improving fortune today. As we welcome the 21st Century, we are confident that China will be more open and more prosperous and will play an increasingly important and responsible role in world affairs in an interdependent global community.
Yesterday was our first anniversary. And, like all birthdays, it was a time of some reflection - to contemplate the challenges that lie ahead, and how to achieve a brighter future for our community. Strengthening our ties with the US is an important element in this quest.
Your landmark visit to our country over this past week, and your summit with President Jiang Zemin, bring with it the prospects of a new era of stability, prosperity and peace in the Asia-Pacific region, and indeed for the entire world. As you yourself noted earlier this month: "A stable, open, prosperous China that assumes its responsibilities for building a more peaceful world is clearly and profoundly in our interests. On that point all Americans agree." We in Hong Kong also agree. We are immensely pleased to see a deepening of the Sino-US relationship. I am certain that your visit heralds the beginning of a new chapter of co-operation between these two great countries.
For obvious reasons, stable and cordial Sino-US relations are of enormous benefit and importance to us here in Hong Kong. At the same time, the excellent relations between Hong Kong and the US, I believe, can help to engender a deeper mutual understanding and respect between Chinese and American people. The fact is we are Chinese and have been brought up in Chinese traditions and values. We are proud of our heritage and our culture. But at the same time, many of us have received the benefit of education in the United States and we respect the long held beliefs and traditions of the American people.
Mr President, almost 10 months ago I had the pleasure of meeting you, and your top advisers, in the Oval Office of the White House. I was deeply touched by the warm welcome you afforded me and my colleagues, and impressed by your genuine interest in and knowledge of China and of Hong Kong in particular. I assured you then, as I reassure you now - and as I hope you see for yourself on this visit - that the unique concept of 'One Country, Two Systems' is working, and working well.
This past year has been of tremendous and historical significance for Hong Kong and our 6.5 million residents. The eyes of the world have not averted their gaze since our national and SAR regional flags were hoisted on the stroke of midnight on 30 June last year. But they have been transfixed by events we did not see coming, rather than those so confidently predicted by the skeptics before Reunification. Were we simply to contend ourselves with making a success of 'One Country, Two Systems' then I deeply believe we would have few, if any, detractors.
Indeed, the Central Government leaders are determined to ensure the successful implementation of the Basic Law. And just yesterday, at our first anniversary celebration, both President Jiang and Vice Premier Qian have reaffirmed such determination. We in Hong Kong too are determined to ensure the concept of 'One Country, Two Systems' which is enshrined in the Basic Law be fully implemented. We will also gradually evolve our political structure with universal suffrage our ultimate objective, in full accordance with the time table laid down in the Basic Law and in what is the best interest of the people of Hong Kong.
This past year has brought to the region unprecedented financial turmoil, which is still sending waves of uncertainty across the world. In Hong Kong, our economy has also been severely damaged by this turmoil. Indeed, Hong Kong is presently undergoing a painful adjustment which is essential if we are to continue to be competitive. However, with the entrepreneurial spirit of the Hong Kong people, expanding economy of the Mainland together with the traditional prudent financial management, sound banking system, huge foreign exchange reserve that support a stable exchange rate, we continue to look forward to our future with confidence.
Mr President, what started as a regional crisis has taken on global significance which needs a global solution. Furthermore, a stable Yen exchange rate and a healthy Japanese economy is essential not only for the financial stability of Asia, but also for the whole world. In these aspects, we are looking towards you for your continued strong leadership.
While Asia remains in an economic doldrum, the US is enjoying tremendous economic success. Inflationary pressures have vanished, unemployment is at an historical low level, and the much talked-about budget deficit has been erased. The American multinational today is lean, efficient and competitive. The United States is truly playing world leadership role in financial and economic arena, much of these have been achieved under your leadership and during your presidency.
On the world stage, despite mounting interest group pressures and the on-going differences between China and the US, you have courageously stepped forward to lay the foundation for a strategic partnership between the two countries. A long term relationship between the US and China based on mutual trust, respect and benefit is undoubtedly in the interest of China, the US and indeed the world.
The continued economic vitality of the US and a constructive relationship between our sovereign and the US are both matters of great importance to Hong Kong. Mr President, you were recently quoted by a publication here in Asia as saying, "If the choice was between making a symbolic point and a real difference, I choose to make a real difference." Mr President, you have made such difference on these important issues and in Hong Kong we appreciate very much what you have done.
Mr President, Americans have commercial, cultural, and family ties in Hong Kong stretching back over a century and a half. The American community in Hong Kong - the largest expatriate business group in the SAR - underlines the fact that Hong Kong is America's closest business partner in Asia.
I extend to you, and to all Americans, an open invitation to visit our home, to experience our hospitality and to join hands with us across the Pacific to forge an even greater friendship than that which we already know, and cherish.
Mr President, thank you.
End/Thursday, July 2, 1998
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