Principal Hong Kong Economic and Trade Representative in Tokyo, Miss Cheung Man-yee, today (November 15) called on Japanese enterprises to consider finding a partner in Hong Kong and explore together business opportunities in the China market.

"This will enable the Japanese enterprises to benefit from the expertise and connections of its Hong Kong partners and help reduce uncertainties and improve their chances of success," she said.

Speaking at the Hong Kong Business Seminar in Osaka, Miss Cheung said Hong Kong's unique advantages for Japanese businesses intending to make their inroads into the huge China market included its financial and legal services, port and airport facilities, high quality professionals with excellent knowledge of doing business in China and their extensive network of contacts.

Miss Cheung said many multinational companies had already chosen to use Hong Kong as their base for managing their businesses in China.

"As an illustration, over 3,200 multinational corporations now use Hong Kong as a regional base, an eight per cent increase over the year 2000.

"And Japan and the US continue to be the two largest source countries," she said.

Miss Cheung said that with China's accession to the World Trade Organisation, China's economy was predicted to be one of the largest in the world in 20 years' time and Hong Kong would have an important role to play in the further development of China's economy.

"With the economy in the Mainland transforming into a more liberalised, transparent and rule-based regime, Hong Kong's services sector is well placed to capture the business opportunities so arise.

"In particular, Hong Kong possesses a competitive edge in tapping into the Mainland market in the areas of distributive trade, banking, finance, insurance, telecommunications and tourism," she said.

The Hong Kong Business Seminar in Osaka was the latest of a series of major business seminars organised throughout Japan by the Hong Kong Economic and Trade Office in Tokyo.

About 400 prominent business executives and government officials attended the seminar and a reception that followed.

End/Thursday, November 15, 2001

The Information Coordinator, Mr Stephen Lam, today (November 15) told a business gathering in Japan of Hong Kong's latest developments and promoted Hong Kong as Asia's world city.

Speaking at the Hong Kong Business Seminar in Osaka, attended by about 400 prominent business executives and government officials, Mr Lam reviewed the working of "One Country, Two Systems" in Hong Kong since 1997.

He said "One Country, Two Systems" had become an everyday reality in Hong Kong, adding that, "Day in, day out, the high degree of Hong Kong's autonomy is working."

Noting that Hong Kong's autonomies were very extensive, Mr Lam added that according to the Basic Law, Hong Kong could conclude agreements with foreign governments and international organisations in areas such as investment protection, surrender of fugitive offenders, mutual legal assistance and visa abolition, tourism, shipping, culture and sports.

"There are over 100 binding bilateral agreements which Hong Kong has entered into with over 50 countries around the world. In addition, there are over 200 multilateral treaties which apply to Hong Kong," he said.

Referring to Brand Hong Kong, Mr Lam told the audience that Hong Kong would use the flying dragon to promote Hong Kong as Asia's world city.

He pointed out that the core values of Brand Hong Kong - Progressive, Free, Stable, Opportunity and High Quality - had become part and parcel of the way Hong Kong over the years did business, promoted trade and received tourists from overseas.

He also used these values to illustrate the conceptual thinking behind the important initiative that the Government was undertaking, and that was adoption of an "Accountability System" as part of its public administration.

"We are planning to introduce a layer of political appointments for the senior echelon of our Government comprising the Chief Secretary, Financial Secretary, Secretary for Justice and other Policy Secretaries of the Government," he said.

Mr Lam said the new system was entirely consistent with the core values of Brand Hong Kong. "We are taking a 'Progressive' initiative to enhance public administration in Hong Kong; the permanent civil service will help maintain 'Stability'; and we are taking an important 'Opportunity' at this juncture of Hong Kong's development to improve the 'High Quality' of public service."

Mr Lam was visiting Japan to update the local audience on the latest Hong Kong situation and to promote Brand Hong Kong. Tomorrow (November 16), Mr Lam will visit Tokyo where he will meet leading businessmen, politicians and Japanese government officials.

End/Thursday, November 15, 2001