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She noted that a major study entitled "Made by Hong Kong" is being carried out by MIT.
"This study, which is jointly sponsored by public and private funds, will identify promising new industries for Hong Kong and will help our manufacturing sector find its way for the 21st century," she said.
Like Hong Kong's economy and its legal system, she said, Hong Kong's civil service was also ready for the transition.
"The process of localisation, of putting Hong Kong men and women in the upper echelon of the executive arm of the Government and the police force is largely complete.
"In the ebbs and flows of managing the political transition, the Hong Kong civil service has taken in its stride many difficult challenges.
"During my visits to Beijing, Chinese leaders have assured me that they appreciate and recognise the value of the Hong Kong civil service as a force for stability.
"They have confirmed the political neutrality of the civil service. They have asked all serving officials to remain in post to serve the people of Hong Kong," said Mrs Chan.
She said she believed China wanted Hong Kong to succeed as much for national pride as for self-interest.
"America and the rest of the world want Hong Kong to succeed because of their increasing stakes in Hong Kong and because we make a significant contribution to the generation of wealth and hence to stability in the region.
"This should be a win-win situation but it will need skilful handling, perseverance, trust and goodwill.
"Above all, we, the people of Hong Kong, need to remain true to ourselves and to the institutions and values which have brought health and vitality to our economy and our community," said Mrs Chan.
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