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HK on solid ground to prepare for the 21st Century
The Chief Secretary, Mrs Anson Chan, said Hong Kong could be as successful during the first half of 21st century, as it had been during the second half of 20th century, notwithstanding any difficulties that might cross its path.
Speaking at the Sloan School of Management, Massachusetts Institute of Technology (MIT), in Boston on Monday (Boston time), Mrs Chan said Hong Kong people had every intention to build on the promises of the Joint Declaration to make the territory's future as spectacularly successful as its past.
"We in Hong Kong have been preparing ourselves, preparing our institutions, not simply for China's resumption of sovereignty on July 1, next year, but for the 21st Century and beyond," Mrs Chan said.
She said her faith in Hong Kong was based on the sound foundations of its well-established institutions.
"The rule of law has been central to Hong Kong's economic and social success. To put it simply, Hong Kong has no higher priority than the preservation of the rule of law," said Mrs Chan.
"After 1997, Hong Kong will continue to live under its own discrete set of Statute Law and the Common Law. This is, I believe, the very essence of 'one country, two systems' and Hong Kong has prepared itself well for the legal aspects of the transition."
On the economy, Mrs Chan said Hong Kong itself had now become a technology and information-based service economy selling its professional services and expertise to China, to the region and to the world.
"Over 2,000 multi-national business have established their regional headquarters or offices in Hong Kong. The number continues to grow as Hong Kong strengthens its position as the region's leading services centre," she said.
"Much of this economic transformation has been led by businessmen, not bureaucrats.
"It is the businessmen's entrepreneurial skills and flair, their willingness to take risks coupled with the resilience and hard work of our labour force that have brought Hong Kong the prosperity which has in turn enabled our people to raise their standard of living."