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Senior HK Official on Western Development Strategy

Donald Tsang Yam-kuen, administration secretary of the Government of the Hong Kong Special Administrative Region (HKSAR), said Monday that a stable and long-term policy on western development is a matter of great importance for potential Hong Kong investors.

Addressing in Xinjiang University, Tsang was referring to the strategy of the Chinese central government to develop its vast, poor western China region.

He said it is of great importance for investors from Hong Kong to realize that the central government's development strategy is a long-term and stable one.

Provincial governments in western China have since then issued policies of their own to encourage development and overseas investment, he said.

The Hong Kong business sector expected to learn more about the policies so that they will make sure that those policies will be long-standing and stable ones, which is a precondition for their investment, said Tsang.

Tsang said his current trip to western China is designed to gather more information on west China region and promote Hong Kong's understanding of the west region.

For Hong Kong businessmen, he said, there are sufficient business opportunities in Xinjiang, a place rich in natural resources, 1,600 times Hong Kong in size and three times Hong Kong in population.

Tsang added that Hong Kong is capable of playing an important role in solving the issue of lack of capital and professionals in Xinjiang.

The more open and stable the atmosphere for investment in western China, the more attractive the region will be for Hong Kong investors, said the administration secretary.

(China Daily 05/29/2001)

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