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Tung Addresses National Day Cocktail Reception
The Chief Executive Tung Chee Hwa Sunday extended his greetings to the people of Hong Kong when addressing the National Day Cocktail Reception in celebration of the 51st anniversary of the founding of the People's Republic of China.
Tung said, "while we are celebrating the National Day today, we are delighted to take note of two recent momentous events which are important to our country."
Firstly, he said, with the bilateral agreements concluded with the U.S. and the European Union countries, and the granting of the Permanent Normal Trade Relations status by the U.S. recently, China will soon become a member of the World Trade Organization (WTO).
China's accession to the WTO will definitely improve further the economic and trading system of China, enhance economic growth and raise the quality of life for the Chinese people, he said.
China's accession to the WTO will also bring immense business opportunities to Hong Kong. We will seize this historic opportunity and bring the Hong Kong economy to new heights, he added.
Secondly, he said, the people of Hong Kong are delighted to see the excellent performance of China's athletes at the Sydney 2000 Olympics and the winning of 28 gold medals is a tremendous
achievement.
"It fully demonstrates the sportsmanship of our country's young athletes and their determination in the pursuit of excellence," Tung said. "They have successfully scaled new heights and have brought honor to our country."
China's impending accession to the WTO and the marvelous performance of China's athletes in the Olympics both signify the resolve and determination of the Chinese people, Tung stressed.
Through the application of continuing efforts in the past fifty years, the new China has made remarkable progress in the economic and social spheres, as well as in raising its national and international stature, Tung said.
"In the past 51 years, especially following the policy of economic reforms and opening up in the last two decades, our country has undergone fundamental changes," he said, adding that the economy is developing rapidly, social stability is maintained,and the standard of living of the Chinese people is constantly improving.
On international relations, China has upheld an independent and peaceful foreign policy, he said. This has gained acceptance and support among the international community, and has enhanced our role in the international arena, he added.
It has been three years since Hong Kong's return to China, he said. "With the staunch support of the Central Government and concerted efforts of all sectors of our community, we have successfully implemented the policy of 'One Country, Two Systems' -a concept unprecedented in history," he said. "This is an achievement which we can all be proud of."
"Despite the impact of the Asian financial crisis and difficulties flowing from economic restructuring during this period, we have risen to these challenges and weathered the storms," the chief executive noted, adding that throughout this period, the support of the country and the resolve of Hong Kong have been very firm.
Since the end of last year, Hong Kong economy has been recovering steadily from the Asian financial crisis, he said. Double-digit economic growth has been recorded for the first half of this year and the growth is expected to be sustained throughout the year, he explained.
"My colleagues and I will continue to strive to implement all programs and policies in the best interests of the Hong Kong people," Tung said. "I also earnestly hope that our community will work in unity for the overall interests of our country and Hong Kong."
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