Chief Executive Discusses CEPA at Xiamen Investment Forum

The International Investment Forum of the 7th China International Fair for Investment & Trade, held in Xiamen in early September, welcomed an address from the Hong Kong Chief Executive, Mr Tung Chee Hwa. 

Mr Tung spoke about the myriad ways in which the Closer Economic Partnership Arrangement (CEPA) will enhance the flow of people, goods and capital between the Mainland and Hong Kong, “fostering wider economic, social and cultural exchanges that will advance our partnership to a new stage of development."

The needs of CEPA have prompted the Hong Kong Special Administrative Region Government to review policies, legislation, human resources and infrastructure. Mr Tung explained that Hong Kong will upgrade its financial infrastructure to ensure it stays at the forefront of this sector and continues to offer international companies a preferred base for business operations in the region.

“Improving the investment agenda is always high on our agenda," said Mr Tung, inviting Mainland enterprises of all sizes to set up operational bases in Hong Kong. This possibility will be even more appealing in January 2004, when the tariff exemptions under CEPA will make Hong Kong more attractive as a manufacturing base and create a favourable environment for both Mainland and international investment in the SAR’s manufacturing industries.

Mr Tung also spoke about regional development, saying that after CEPA implementation, “economic co-operation between Hong Kong and the Pearl River Delta will enter a new stage, creating countless opportunities for development."

Mr Tung concluded by describing the recent positive trends resulting from Hong Kong’s economic restructuring initiatives and said, “Hong Kong will emerge as a more glittering ‘Pearl of the Orient' and find new roles to play in the economic 
development of the Mainland and its alignment with the world market."

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