The economy of Hong Kong has recovered from the financial tsunami at a relatively faster rate than that in Europe and the US, a sign showing that Hong Kong's economic foundation is more solid than ever, the Director of the Office of the Government of the Hong Kong Special Administrative Region (HKSAR) in Beijing (BJO), Mr Thomas Tso, said today (July 1) at a ceremony to celebrate the 13th anniversary of the establishment of the HKSAR.
"Since the reunification of Hong Kong with the Motherland 13 years ago, the 'One Country, Two Systems' and 'Hong Kong people administering Hong Kong' have been implemented successfully under the support of our Motherland and with the collective efforts of Hong Kong people. Hong Kong remains prosperous and stable," Mr Tso said.
To tackle the financial tsunami, the Government adopted last year the policy of "stabilising the financial system, supporting enterprises and preserving employment" to restore the strength of the Hong Kong economy and the confidence of Hong Kong people. Our forecast is a 5% GDP growth this year, Mr Tso said.
Speaking on the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), Mr Tso said the Supplement VII to CEPA, which was signed in May this year, would facilitate further the business expansion of Hong Kong enterprises in the Mainland and enhance the intergration of the services industry and exchanges of expertise between the Mainland and Hong Kong. This would help to achieve a win-win situation.
On constitutional development, Mr Tso said that the passage of the constitutional reform package in the Legislative Concil last week laid down a milestone in Hong Kong's democratic development. "The 2012 constitutional reform package does not only improve our electoral system, it also lays a solid foundation for the community to pursue detailed arrangements for universal suffrage according to the established timetable," he said.
At the ceremony today, the Deputy Director of the Hong Kong and Macao Affairs Office of the State Council, Ms Hua Jian, joined Mr Tso in proposing a toast.
Renowned artist, Mr Hu Yongkai, also attended the event and presented the BJO a painting that he dedicated to the 13th anniversary of the reunification of Hong Kong with the Motherland.
Other guests included those from the Central People's Government, the Beijing Municipal Government, and Mainland and Hong Kong organisations and enterprises .
The BJO also held an open day to promote Hong Kong and the work of the office.
Ends/Thursday, July 1, 2010