Hong Kong to revitalize
economy by connecting with mainland
CHENGDU, July 26 (Xinhua) -- Hong
Kong is playing an increasingly active role in the Pan-Pearl River Delta (PPRD)
framework, aiming to further boost its economy by making good use of its links
with the mainland, according to sources with an ongoing forum being held in
Chengdu, capital of southwest China's Sichuan Province.
"Hong Kong is firmly positive
about participating in the PPRD framework and would like to help further
develop the PPRD region," said Donald Tsang, chief executive of the Hong
Kong Special Administrative Region, at the forum here, expressing hope that a
booming PPRD region will serve as the engine powering the Hong Kong economy.
Tsang is leading a huge entourage consisting of
high-ranking government officials and business people to attend the Second
PPRD Regional Cooperation and Development Forum held here from Monday to
Thursday, demonstrating Hong Kong's ambition to further integrate into the
regional economic entity and strengthen links with the mainland.
The PPRD region occupies 20 percent of the national land,
homes over one third of the national population and contributes to more than
40 percent to the national gross domestic product. It is currently China's
largest regional economic entity.
Till now, Hong Kong has invested some 250 billion US
dollars in the mainland, with 60 percent of the capital being poured into the
PPRD region to establish some 130,000 enterprises.
Since the PPRD framework, encompassing nine mainland
provinces or autonomous region as well as Hong Kong and Macao, was launched
last year, Hong Kong has attracted an investment worth of some 114 million
yuan (14.06 million US dollars) from the nine mainland PPRD members, according
to Hong Kong's Commerce, Industry and Technology Bureau.
Currently, about 80 enterprises from the nine mainland PPRD
members are listed at the Hong Kong Stock Exchange and the number is widely
expected to grow further, according to Frederick S. Ma, Hong Kong's secretary
for financial services and treasury.
"Being traded at the Hong Kong Stock Exchange will
familiarize the PPRD enterprises with international financial practices and
enhance the credibility of the listed companies among overseas
investors," said Ma.
In addition to appealing the mainland PPRD members with its
strong financial and services industries, Hong Kong also demonstrated much
enthusiasm in teaming up with other members to establish an effective
mechanism to coordinate regional cooperation and development as well as foster
a common market in the region.
As a matter of fact, the connections between Hong Kong and
the mainland have been continuously strengthened since the Mainland and Hong
Kong Closer Economic Partnership Arrangement (CEPA) was launched,
fundamentally shifting Hong Kong from a China gateway to an integral part of
the national economy.
From August to December 2004, 68 mainland enterprises
entered Hong Kong, bringing investment worth 470 million US dollars,
accounting for 48.9 percent of the annual total. During the first quarter of
this year, 55 companies from the mainland extended their reaches to Hong Kong,
with investment reaching 280 million US dollars, a big improvement lead by the
CEPA.
"We hope the PPRD region will take the lead to
implement the CEPA," said Tsang at the forum. Enditem
