Press Release - June 24, 2002

Hong Kong has set its eyes firmly on the future and is determined to sharpen its competitive edge to face challenges, the Director of the Hong Kong Economic and Trade Office (Canada) (HKETO), Mrs Rosanna Ure, said today (June 24).

Addressing more than 200 guests at a reception at the Metro Toronto Convention Centre to mark the establishment of the 5th Anniversary of the Hong Kong Special Administrative Region, Mrs Ure said the past five years in Hong Kong was described by many observers as �momentuous�.

�Not only has Hong Kong to reassure our citizens and overseas investors that Hong Kong would continue to flourish under the �One Country, Two Systems� model, we also have to tackle an unprecedented period of economic downturn brought about by the Asian financial crisis and the painful adjustment and restructuring of our economy.�

She said Hong Kong�s sustained investment in infrastructure projects bears strong testimony to its commitment to its future.

She cited the new world-class Hong Kong International Airport at Chek Lap Kok and the Tsing Ma Bridge, the world�s longest road-and-rail suspension bridge, as examples of the major infrastructure projects completed during the past five years.

�In the coming ten years, we will continue to invest CAD$120 billion in some 1,600 infrastructure projects,� said Mrs Ure, adding that these future plans would mean considerable opportunities for Canadian businesses.

Some of the most spectacular projects were introduced in the �Building a Dynamic Hong Kong� photo exhibition presented today for guests� preview. Due to the possible industrial action by City staff, the photo exhibition which was originally scheduled to be held from June 24 to June 30 at the Toronto City Hall. An announcement will be made in due course.

�Hong Kong�s future cannot rely on taller high-rises and a faster and more extensive transportation network alone. Our greatest asset is our people, and we are determined to ensure that our young people are innovative, resilient and responsible. We have remarked upon an ambitious education reform which will provide the environment that nurtures these qualities.� Mrs Ure said.

�Similarly, we have paid greater attention to the environmental problems that accompanied economic developments and we are making good progress in areas such as control of water and air pollution and preserving the heritage and characteristics of our city.�

Officiating at today� 5th Anniversary Reception were Senator, the Hon Vivienne Poy, Deputy Premier and Minister of Education of Ontario, the Hon Elizabeth Witmer, the Attorney General and Minister of Native Affairs and Gaming of Ontario, the Hon David Young, and City Councillor of Toronto Norm Kelly. They joined Mrs Ure in a toast to wish Hong Kong�s success story to continue.

In her address, Mrs Ure talked about the close link of Hong Kong�s future with the rest of the world.

�The continual success of the Mainland of China is certainly one of the important factors that influence Hong Kong�s future. Likewise, Hong Kong is closely connected to every country in the world, by virtue of our trading and human ties that we have built up in the past,� Mrs Ure said.

�The Hong Kong Economic and Trade Office is fortunate to have enjoyed the support of the federal, provincial and city governments in Canada and we will continue to work with them to foster a closer and stronger relationship between Canada and Hong Kong.�

The reception marked the conclusion of a series of business and cultural activities organized by the Hong Kong Economic and Trade Office to commemorate the 5th Anniversary of the establishment of the Hong Kong Special Administrative Region.

Apart from the �Building a Dynamic Hong Kong� Photo Exhibition, which has been postponed due to the possible industrial action by City staff, all others, including the �City at Light Speed � Hong Kong Cinema after 1997� film festival, �Hong Kong � Your Fast Track to China� investment seminar, the special �Hong Kong Dragon Boat Championship Race� as the highlight of this year�s Toronto International Dragon Boat Race Festival, and the urban planning seminar, themed �Planning for sustainable growth � The Hong Kong and Toronto Experience�, were met with great success.

The series was strongly supported by Ming Pao, Sing Tao Daily and Fairchild TV as its media sponsors.



For more information, please contact John Tam, Chief Information Officer of Hong Kong Economic and Trade Office at (416) 924-5544 or e-mail: [email protected] or Elison Chu, Senior Information Officer, at [email protected].