CE visits London

September 13, 2011

Chief Executive Donald Tsang continued the second leg of his visit to Europe in London today.
 
Addressing the Think Asia, Think Hong Kong Symposium, held by the Hong Kong Trade Development Council, he highlighted Hong Kong's position as the perfect entry point to Asia and its indispensable role as China's global financial centre.
 
He said Hong Kong is a testing ground for new products and ideas as the Mainland continues to open up, reform and liberalise its markets, and internationalise the renminbi.
 
“Renminbi banking was launched in Hong Kong in 2004. Today almost 130 authorised institutions are engaged in renminbi business. This includes deposits, remittances, credit cards and chequing accounts. Total deposits in Hong Kong at end-July topped RMB570 billion,” Mr Tsang said.
 
“Our deeper financial integration with Mainland China is just one reason for foreign companies to ‘Think Asia, Think Hong Kong’. Our city has long been the premier international gateway for trade with the Mainland. Think of Hong Kong as a corridor of opportunity for goods and services as well as ideas and new innovations to reach Mainland markets."
 
Mr Tsang later addressed the Hong Kong Association Membership Lunch, emphasising the profound impact One Country, Two Systems has had on Hong Kong, and will continue to have.
 
“We must ensure we bring into full play all of the advantages we have as a Special Administrative Region of China,” Mr Tsang said. “My job as Chief Executive is not only to ensure the prosperity and stability of our society – it is also to ensure Hong Kong can play the fullest and most appropriate role possible in our nation's development.”