"Hong Kong has benefited tremendously from the mainland's economic growth over the past two decades. It is therefore not hard to see the strong economic impetus we will derive from our country's sustained aggregate economic growth in the coming decade," Tung said.

China's approaching entry into the World Trade Organization (WTO) will result in the expansion and liberalization of the mainland market, particularly service industries, in which Hong Kong will gain great advantages and opportunities for development, Tung said.

China's accession to the WTO will also give a huge impetus to the joint development of the regional economy by Hong Kong and Guangdong, he continued.

Tung pointed out, to promote economic co-operation among Guangzhou, Hong Kong, Macau, Shenzhen and Zhuhai, Hong Kong needs to strengthen its infrastructure to facilitate economic flows.

"To further enhance Hong Kong's role as a passenger service hub, we will continue to expand our air services network and consider long-term plans to enhance our transport links with the Pearl River Delta to serve the entire region," he said.

Tung described the strategic development of Western China launched by the Chinese Central Government as an ambitious and long-term undertaking.

"It will provide Hong Kong with many more business opportunities on a continuing basis, and with our unique advantages, we in turn can make significant contributions," he said.

(People's Daily 10/11/2000)