***************************

Following is the transcript (English portion) given by the Chief Executive, Mr Tung Chee Hwa, at a stand-up session after attending the Super Trailwalker reception this (November 3) afternoon:

Chief Executive: First of all, let me say that I am delighted to be here to participate in this Trailwalker charity event. I think it's a great thing. People inside the room, they are here not only giving money or participating in the event, or they do both. That' s all for the good of Hong Kong, of course. It's a very touching thing. Mr Chan, Mr Chong and Mr Au, they all in their own different ways, very, very effectively, in organizing these events. I would like to thank them on behalf of Hong Kong.

I spent two days in London this week and came back a couple of days ago. It was a very good visit. I had an opportunity to meet the leaders from commerce, industry, as well as political leaders, including the Prime Minister while I was in London. And, everyone of them congratulated us how well we have done since the Return; and how well "One Country, Two Systems" is implemented. They also see that our free economic structure and level playing field is being well-maintained. Because these are very important, fundamental, success factors for Hong Kong's future. British industrialists and those in commerce also see great opportunities that China joins the WTO. At the same time, they also see great opportunities as economy of Asia and Hong Kong continue to recover. I have every hope that there will be more firms from Britain who want to choose Hong Kong as a base of operation in Asia. I also had the opportunity to visit the waste recycle facility and also visited the Imperial College, one of the finest educational institutions in the world. I was able to learn a great deal of environmental issues as well as educational issues. These are areas very close to my heart. I want to emphasize that everywhere I go in the UK, the message is very clear that level playing field is important, maintaining economic freedom is very important. Those friends of ours in the UK, they see very well. These are being very well maintained here.

Every opportunity I have and my colleagues of the Government have, we will explain how well these are being protected here. Tomorrow, there will be a European Parliament delegation visiting Hong Kong and I will take the opportunity of seeing them, explaining to them what has really happened in Hong Kong, that's the economic freedom as well as level playing field all are being very well protected. Thank you very much.

(Please also refer to the Chinese portion of the transcript)

End/Friday, November 3, 2000

NNNN