Center

Specialists suggest HK seizing delta opportunities

(Xinhua)
Updated: 2006-08-01 11:06

Hong Kong Greater Pearl River Delta Business Council suggested Monday that Hong Kong, with its strengthened relationship with the Pearl River Delta, should seize the opportunities arising from new development in south China's Guangdong province.

Launching the council's second annual report, Chairman of the Greater Pearl River Delta Business Council Victor Fung said regional economic integration has become a global trend and Hong Kong should put in place relevant measures to cope with the changes.

So far as the annual report is concerned, Hong Kong Chief Executive Donald Tsang said he was pleased to note the council to put forth constructive views on major cooperation items related to Hong Kong/Guangdong cooperation.

The private sector's participation was crucial, Tsang said, adding that he looks forward to the council's continued efforts and contributions in promoting cooperation between the two places.

The council last year maintained a constructive dialogue with the State Council for the Promotion of International Trade Guangdong Sub-Council on issues of mutual concern. It has also maintained liaison with the governments of both places and individual provincial cities.

Recent developments like the "11th Five-year plan" of Guangdong Province, economic restructuring in the province and the development of the western Pearl River Delta have profound implications for Hong Kong.

The council has undertaken two studies in the past year to help the Hong Kong business community understand more about the impending opportunities and challenges. The two studies are Opportunities and Challenges for Hong Kong resulting from Guangdong's Economic Restructuring, and Development of Western Pearl River Delta (PRD) and its Prospects of Cooperation with Hong Kong.

Apart from the two studies, the council also promoted cooperation between Hong Kong and Guangdong in many areas and the six working sub-groups set up for this purpose have studied a number of topics, including cross-boundary passenger and cargo flow, implementation of the Closer Economic Partnership Arrangements (CEPA), joint investment and trade promotion, sustainable development, education and technology, and tourism as well as culture and sports.

According to the report, the council recommended that Hong Kong and Guangdong should step up communication and cooperation, enhance the transparency of relevant policies and regulations, so as to address the problems encountered by Hong Kong's services sector when making inroad into the Chinese mainland markets.

When it was set up in March 2004, Hong Kong Greater Pearl River Delta Business Council's principal stated goal was forging investment and business ties between Guangdong and Hong Kong companies.