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The Secretary for Financial Services and the Treasury, Mr Frederick Ma, today (July 14 London time) started his week-long European visit in London to promote the post-SARS Hong Kong.

The visit is part of the economic relaunch program which aims at revitalizing Hong Kong's economy.

Briefing a group of leading investors and fund managers on the latest developments in Hong Kong, Mr Ma said Hong Kong was now well on the way back to economic recovery following an extremely challenging time due to the outbreak of SARS.

"At the time when we have seen positive signs of economic recovery as evidenced by the fairly good real GDP growth of 4.5% in the first quarter, we were hit by the SARS crisis," Mr Ma said.

Noting that the challenge dealt a blow to the economy as well as the daily lives of people in Hong Kong, Mr Ma said, "Nevertheless, Hong Kong has risen to this challenge and emerged from the crisis even stronger than before, with a rejuvenated spirit of care and concern among members of the community."

He encouraged the European friends to visit Hong Kong - a place which is absolutely safe to visit and do business.

Similar messages were delivered by Mr Ma when he addressed some 200 guests who attended a cultural performance by the Hong Kong Academy for Performing Arts in the evening.

Earlier in the day, Mr Ma met with, among others, the Shadow Chief Secretary for the Treasury, Mr Howard Flight and the Treasury Select Committee of the House of Commons. Mr Ma briefed them on the latest developments and government efforts in the areas under his portfolio.

He will be meeting prominent businessmen with strong ties with Hong Kong, leading figures in the banking sector and the Financial Services Authority in London tomorrow before flying to Frankfurt.

End/Tuesday, July 15, 2003

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