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Forbes Optimistic About Hong Kong’s Future
The head of Forbes magazine said Tuesday that five years after Hong Kong's return to the motherland, he is more bullish on Hong Kong's future and its economic development powered by the Chinese mainland's economic growth.

President and Chief Executive Officer of the magazine Steve Forbes also said China's entry into the World Trade Organization (WTO) will also benefit the Asian region and the world at large.

Forbes made the remarks at the pre-conference news briefing to herald the start of the three-day Forbes Global CEO Conference entitled "Reassessing the Business Blueprint" held at the Grand Hyatt hotel in Hong Kong.

"I think generally Hong Kong is still a great area for investment, especially Hong Kong makes the adjustment of tying itself more to the Pearl River Delta. I think there are projects afoot that will make Hong Kong a great area of economic growth in the future," he said.

"I think there will be plenty of things that will be happening in Hong Kong, that will make it a very important and vital area for economic growth, and I think Hong Kong will be a major player in high technology and financial services," he said.

Commenting on China's entry into the WTO and how such a move will benefit the world, Forbes said, "I think it was good that China joined the WTO. I think it was very healthy, and I think and I hope that after the party congress in November, it will continue its economic reform programs, particularly having more economic developments within China..., not just depending on exports but also having more internal economic development."

"I think that will also be very positive for China, the region and the world," he remarked.

When asked to comment on what the holding of the CEO conference in Hong Kong means for Hong Kong, Forbes said the conference has enabled Hong Kong to showcase itself for future investment and as area that is still vibrant.

"So when you bring people who are in charge of literally billions of dollars of investments to have a conference to discuss the future in Hong Kong, that can only be a benefit to Hong Kong and shows that Hong Kong is still a major economic player in the global scene," he said.

The conference will cover topics, such as reassessing the global financial outlook, whether the tech sector is rebounding in the wake of the post-dotcom crash, how China will trade with the rest of the world, how Asia will have a new economic paradigm with the emergence of China as a manufacturing giant, how the entrepreneurs and private sector are emerging, and how the competition for talents heats up in Asia.

(People's Daily September 25, 2002)

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