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World class business and the rule of law beckons investors
WER: Following China's accession to the World Trade Organization, how do you think Hong Kong's traditional role as the "Gateway to China" will be affected? Tung: We believe that China's WTO membership will generate vast business opportunities for Hong Kong and, in the process, exemplify its strengths as an international commercial hub. In recent years, the gateway role of Hong Kong has increasingly shifted from the physical movement of goods in and out of mainland China through Hong Kong to the provision of a whole spectrum of support services in business and finance to complement the ever flourishing mainland-related economic activities. The progressive market liberalization and an upsurge in trade volume will bring new investments and business opportunities to this part of the world. Hong Kong's premium financial infrastructure and the absence of exchange controls make it the ideal location to raise funds not only by foreign companies tapping the mainland market, but also by the increasing number of start-up Chinese firms eager to venture overseas. The rule of law, the free flow of information, a sophisticated services sector and clean government create a business environment that is certain, efficient and fair. These are unrivalled advantages contributing to Hong Kong's attractiveness as the base of investment for foreign companies, including the nearly 700 firms from Japan that have chosen to locate their businesses here. WER: What do you think is the best reason for a foreign company to locate its Asian headquarters in Hong Kong? Tung: Hong Kong is an ideal location from which to run regional operations in Asia Pacific especially if they involve the mainland of China. We are ideally positioned half way between the major business centres of North Asia (Tokyo, Seoul, Beijing) and South East Asia (Singapore, Kuala Lumpur, Bangkok) all of which can be reached within three to three and a half hours flying time. We provide the widest possible range of world class business services, including legal, accounting, financial services etc. Our telecommunications links are state-of-the-art. Our transport links with the rest of the world are exceptional -- the Hong Kong International Airport and Narita are the two busiest airports in Asia. WER: The government has officially committed to strengthening and promoting the expansion of the logistics, finance and trade industries in Hong Kong. In what ways are government policies helping to speed up this process? Tung: The HKSAR government is committed to providing a conducive environment to facilitate the development of Hong Kong into the preferred transportation and logistics hub both in Asia and internationally. Last November, we set up the Steering Committee on Logistics Development, headed by the Financial Secretary, to provide the policy steer on logistics development. The Hong Kong Logistics Development Council was established last December to enhance the collaboration between the public and private sectors and to pursue joint projects relevant to the logistics industry. We also maintain a close dialogue with our counterparts on the mainland on the implementation of improvement measures at the land boundary control points to facilitate the speedy flow of goods. WER: What kind of message would you like to convey to the Japanese businessmen who will be reading this issue on Hong Kong? Tung: Our business sector has decades of experience trading and investing profitably with the mainland of China. We stand ready to cooperate with companies of all sizes from Japan who wish to access the mainland economy, whether as a source of high class products or as a market for Japan's own products and services. Come to Hong Kong where you will find a world class services sector backed up by a business-friendly government, the whole underpinned by the rule of law.
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Hong Kong Chief Executive Tung Chee Hwa