The international business community will find that Hong Kong has a great deal to offer as new economic partnerships are being forged between China and other countries, Convenor of the Executive Council, the Hon. Leung Chun-ying, said in Tokyo today (June 28).

Speaking at a reception to celebrate the 4th Anniversary of the Establishment of the Hong Kong Special Administrative Region, Mr Leung said that four years after the setting up of the HKSAR and on the eve of China's accession to the World Trade Organisation, it was opportune to examine the role of Hong Kong as an economic interface between the Mainland of China and other parts of the world.

He said the role of Hong Kong as a trading center between the Mainland and other countries was well known.

"Now with the new airport, Hong Kong has also become the most important hub for passenger traffic."

Mr Leung added that Hong Kong was also the largest capital market for Mainland companies.

"Last year, close to US$60 billion worth of funds were raised by Mainland companies at the Hong Kong Exchange, which was 84 per cent of the total capital raised by Mainland enterprises in overseas markets," he said.

Mr Leung added that the important economic interface function of Hong Kong was also underlined by the 3,000 regional offices and regional headquarters in Hong Kong.

He said these offices and headquarters were making use of Hong Kong's physical infrastructure, such as the transport and telecommunications systems, and its software, such as the legal system and the professional expertise.

Also speaking at the reception, Principal Hong Kong Economic and Trade Representative in Tokyo, Miss Cheung Man-yee, said that four years after Hong Kong's reunification with China and under the "One Country, Two Systems" principle, Hong Kong continued to enjoy high autonomy and remained a free and cosmopolitan city, an international trading and business center widely acclaimed in the world stage.

To cite a few examples, Miss Cheung said Hong Kong had been ranked by the Heritage Foundation and the Fraser and Cato Institutes as the world's freest economy.

"Hong Kong has the second largest stock market in Asia after Japan. We continue to be amongst the world's 10 largest trading entities and we have the world's busiest container port."

She said it was Hong Kong's long-term vision to stamp Hong Kong as Asia's world city with its newly launched global brand programme.

Introducing the new Hong Kong Brand, Miss Cheung said the new Hong Kong visual identity Æ a stylized dragon Æ symbolized a blend of East and West that characterized Hong Kong.

"The new global brand programme is aimed at focusing international attention on Hong Kong's drive to be the gateway to China as well as a hub for business throughout the Asia-Pacific region," she said.

About 350 guests attended today's reception which was organized by the Hong Kong Economic and Trade Office (HKETO) in Tokyo. They included Chairman of the Japan-Hong Kong Parliamentarian League and former Japanese Prime Minister, Mr Tsutomu Hata, another former Japanese Prime Minister, Mr Ryutaro Hashimoto, other political leaders and senior business executives.

Before the reception, Mr Leung exchanged views with members of the Japan Institute of International Affairs (JIIA) at a seminar jointly organized by the HKETO and JIIA.

Ends Thursday, June 28, 2001