Clinton cites Hong Kong’s strength as business base

US state secretary highlights free, transparent, fair market in SAR

US Secretary of State Hillary Rodham Clinton on Monday praised Hong Kong’s economic achievements under the “One Country, Two Systems” policy.

In an address to the US Chamber of Commerce in Hong Kong, Clinton said Hong Kong is helping to give shape to open, free, transparent and fair market – principles that she said characterize a healthy economic competition and “find a home” in the city.

“Under the ‘One Country, Two systems’ policy, this (Hong Kong) remains a city that bridges East and West and looks outward in all directions, a place where ideas become businesses, where companies compete on the merits, and where economic opportunity is palpable and real for millions of people, a place that defines the fierce and productive economic competition of our time,” said Clinton.

She specifically highlighted Hong Kong’s market transparency.

“Hong Kong is a testament to the power of transparency, good governance, the rule of law, freedom of the press and an independent judiciary and a vibrant civil society, all of which help to explain why so many people choose to do business here,” she told an audience of business leaders.

Clinton’s remarks were echoed by analysts.

“Hong Kong’s unique appeal to the world is built on its strategic location which is unable to be duplicated by any other mainland cities or Asian economies,” Victor Sit, director of Advanced Institute for Contemporary China Studies from Hong Kong Baptist University, told China Daily.

The city’s geographical position as a link between the mainland and the outside world has given Hong Kong a competitive edge in attracting foreign capital to the mainland and assisting the mainland companies stepping into the world – a proven success in the past 150 years and will continually carry over in the future, according to Sit.

Clinton is the first US foreign affairs chief to visit Hong Kong since 1997.

Before the lunch-time address, Clinton met with Hong Kong Chief Executive Donald Tsang at the Government Offices and later, at her hotel, she met with several members of the Legislative Council.

In the afternoon, Clinton met with State Councilor Dai Bingguo in Shenzhen to wrap up her 12-day, around-the-world diplomatic tour in Europe and Asia.

Source :China Daily

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