Financial Secretary Paul Chan yesterday began a visit to New York, in the US, by attending the annual Gala Dinner of the National Committee on United States-China Relations (NCUSCR) and met its Chair, the former US Trade Representative Ambassador Charlene Barshefsky.

In their meeting, the two exchanged views on current China-US economic and trade relations, as well as issues relating to trade, investment and financial markets between Hong Kong and the US. Mr Chan also briefed Miss Barshefsky on developments in Hong Kong.

Mr Chan highlighted the strong and close economic and trade ties between Hong Kong and the US. He added that despite the global economy currently facing significant uncertainties, Hong Kong will, under the "one country, two systems" framework, maintain its status as a free port, uphold the common law system and rule of law, sustain a simple and low tax regime, and implement open, stable and predictable economic and trade policies.

He added that Hong Kong continues to welcome US businesses to invest and expand their presence in the city. Recognising the important and active role the NCUSCR has long played in promoting Hong Kong-US economic and trade relations, he expressed hope for continued close co-operation with the committee to create more opportunities for the business communities of both places.

The gala dinner is a major annual event organised by the NCUSCR. It brings together prominent political, business and academic leaders from both China and the US, with a view to facilitating exchange and co-operation between the two countries. This year's event was attended by around 300 leaders and guests.

Today, Mr Chan will meet local political and business leaders and brief them on the latest developments and opportunities in Hong Kong.