China's entry into the World Trade Organization will not weaken the unique advantage of competitiveness of the Hong Kong Special Administrative Region.
This was remarked by Seth Jutan, chief executive officer of Trust Asia Ltd., at Friday's forum attended by CEOs of Top 500 and leaders of top Chinese companies, which is part of the ongoing Fifth China Beijing International High-Tech Expo.
Hong Kong is confident of meeting the challenges of the globalization by adopting positive countermeasures, he said, adding that other cities and regions can never copy Hong Kong's status and model.
Ninety-eight percent of the enterprises in Hong Kong are small firms, since its environment is favorable for the development of small companies, he noted.
Hong Kong's advantage is that local business people are more familiar with the world market, so that big companies can find their partners in the territory, according to the business leader of Hong Kong.
After China entered the WTO, Hong Kong can help international and inland companies to reduce their investment risks, he said.
Over the past two years, more foreign companies have opened their offices in Hong Kong, he disclosed.
(People’s Daily May 25, 2002)