CEPA opens avenue of cooperation
( 2003-11-10 21:45) (Xinhua)
The Chinese Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA)
opens a new avenue of cooperation among Hong Kong, the Chinese mainland and
overseas enterprises, a local official has said.
Secretary for Commerce, Industry and Technology of the Hong Kong Special
Administrative Region (SAR) John Tsang made the remarks at the Hong Kong
Management Association 2003 Annual Conference on "Hong Kong, China and The
World""CEPA offers opportunities for not only local businessmen and
professionals, but heightens our potential to attract foreign investors to Hong
Kong, and Chinese mainland companies to use Hong Kong as a base to go overseas,"
Tsang said.
Under CEPA, enterprises in Hong Kong, the Chinese mainland and overseas can
truly become players of the same team in realizing the full benefits of
globalization, he said, adding that it will be a win-win-win situation for all.
"Hong Kong enjoys a unique role as the springboard for overseas investors to
go into the Chinese mainland and for Chinese mainland enterprises to go
overseas. CEPA strengthens and advances this position even further," Tsang
noted.
He said Hong Kong must reach out to integrate its resources with those of
other regional economies in order to create that competitive edge, because "in
today's competitive world, a small city like Hong Kong can no longer compete
effectively on its own in the global arena."
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