HKSAR Government welcomes launch of Shanghai pilot free trade zone
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     The State Council announced today (September 27) the launch of a pilot free trade zone scheme in Shanghai. The Hong Kong Special Administrative Region Government welcomed the announcement and is looking forward to further enhancing co-operation with Shanghai.

     The Chief Executive, Mr C Y Leung, said, "The Shanghai pilot free trade zone has great significance in deepening the economic reform and liberalisation of our country. Hong Kong is looking forward to further enhancing co-operation with Shanghai. We hope to contribute to the economic development of our nation through sharing our experiences on various fronts, including administrative management, free trade and the legal system."

     The Financial Secretary, Mr John C Tsang, said that the Shanghai pilot free trade zone would further liberalise various service industries and would bring more business opportunities to related industries in Hong Kong. Enterprises in Hong Kong already have a high level of international competitiveness. So long as they focus on sharpening their competitive edge, they need not worry about competition, he added.

     Mr Tsang said, "Hong Kong enterprises and professionals are more familiar with the Mainland market than their counterparts in other countries and regions are. They should capitalise on the opportunities for further strengthening their first-mover advantage."

Ends/Friday, September 27, 2013
Issued at HKT 21:47

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