Posted in: Press Releases

June 28th, 2007

More than 400 guests were told of the successful implementation of the “One Country, Two Systems” principle in Hong Kong and the Asian world city’s continued economic growth in the past decade at a reception in Toronto today (Thursday) to celebrate the 10th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR).

The reception, hosted by the Hong Kong Economic & Trade Office (HKETO) in Canada, served as a highlight of a series of more than 40 activities the HKETO organized to celebrate the significant milestone of the Hong Kong SAR.

Dignitaries and VIPs who attended the reception included the Consul General of the People’s Republic of China in Toronto, Madam Zhu Taoying; Member of Parliament Olivia Chow; Senator Vivienne Poy; Members of the Ontario Parliament David Zimmer, and Rosario Marchese; Leader of Official Opposition in Ontario, John Tory; and Mayor David Barrow of Richmond Hill, as well as city councilors from Toronto and neigbouring cities.

Addressing the guests, HKETO Director Mr Bassanio So said that with the successful implementation of the “One country, Two Systems” principle in Hong Kong in the past 10 years, the doubts on whether Hong Kong could integrate and interface seamlessly with China Mainland after the handover were proven unnecessary.

“In fact, Hong Kong enjoys high degree of autonomy and our administration, legislature and judiciary are all independently run by the people of Hong Kong,” he said. “The principle of ‘Hong Kong people ruling Hong Kong with a high degree of autonomy’, is not a catchphrase. It is a reality.”

Mr So said with the burgeoning economy in China Mainland and the close economic integration between Hong Kong and its motherland, Hong Kong’s economy is now in its best-ever shape since the handover.

He cited the phenomenal growth of Hong Kong’s economy, the Hang Seng Index, its stock market capitalization, and the increasing presence of overseas companies in Hong Kong as example.

Mr So also stated that Hong Kong was ranked continuously as the freest economy in the world by the Canada’s Fraser Institute. “The international community continued to see Hong Kong favourably,” he said.

An exhibition, jointly produced by HKSAR’s Information Services Department and the Chinese Ministry of Culture, featuring Hong Kong as a diverse and fascinating city, was also opened by Director So and Consul General Zhu at the reception. The display of 66 photographs showcased Hong Kong’s achievements in the past 10 years – as a dynamic and enterprising city, a leading centre of regional and international trade and finance, and a fusion of east and west, traditional and modern.

“Hong Kong’s future development will derive from its great ability to innovate and adapt,” concluded Mr Bassanio So.

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For further information, please contact Stephen Siu, Assistant Director, of the Hong Kong Economic & Trade Office at Tel: 416-924-5425, e-mail: [email protected], or Senior Information Officer Elison Chu at Tel: 416-924-5544, e-mail: [email protected].

Click here to download a Chinese version of this press release in PDF format.