Shanghai Mayor Han Zheng said here Monday that Shanghai and Hong Kong are facing a rare opportunity of cooperation which is expected to push ahead with the new round of development of the two cities.

Speaking at the press conference, Han said his talks with Hong Kong Special Administrative Region Chief Executive Tung Chee Hwa were successful and the two sides held in-depth discussions on full-range cooperation between the two cities.

He promised that his municipal government will act more actively in promoting the bilateral cooperation.

Tung Chee Hwa said the two sides agreed to strengthen the bilateral cooperation on airport and port construction, 2010 Shanghai Expo projects, tourism and exhibition industries, investment and trade, education, health and sports fields, financial services and talents.

Tung said the cooperation between the Yangtze River Delta led by Shanghai and greater Pearl River Delta will not only benefit the two regions, but also will make contributions to the national development.

He said Shanghai has been experiencing rapid economic growth and Hong Kong could provide the city with talents in many fields, while Shanghai's consuming market has a great potential which can offer many opportunities for Hong Kong businessmen.

Mayor Han Zheng said the Shanghai delegation came to Hong Kong for implementation of Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) and seek mutual development between the two cities.

Speaking about the different characteristics of the two cities, Han Zheng described Shanghai as a "juvenile of 15-year-old" who becomes taller and taller, adding Shanghai's annual gross domestic product growth has been over 10 percent for over a decade. While Hong Kong is just like a 25-year-old man with more experience.

Han said Hong Kong is an important international financial center, a trade center and a shipping center in the Asia Pacific region, with an open economy, relatively complete legal system and broad links with the international market. Shanghai can introduce many talents and experiences from Hong Kong.

As for the competition problem, Tung said healthy and orderly competition is good for the development of both cities, adding Hong Kong and Shanghai has much space for win-win cooperation.

(Xinhua News Agency October 28, 2003)