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Last year alone, two-way trade between Hong Kong and Australia was worth A$5.6 billion, Mrs Chan said.

"There are more than 350 Australian companies established in Hong Kong, taking advantage of our unrivalled location as the gateway to China and as the springboard to the rest of Asia, not to mention our sophisticated financial and services sector, our level playing field for local and international businessmen and our tried and trusted legal and arbitration system."

Mrs Chan said Hong Kong and Australia were partners in the international forums such as the World Trade Organisation and APEC, working closely with similar aims and objectives on strategic global and regional economic and trade issues.

The Chief Secretary concluded her speech by re-affirming Hong Kong's vital role in the development of China and the region.

"Hong Kong has a life and identity of its own - albeit as a special and proud part of China - for 50 years after 1997.

"That's spelled out in the 1984 international treaty on Hong Kong's future in which the whole world - not just Britain and China - has a vested interest, because a successful Hong Kong is good for everyone who shares in our success," she said.

End

Australia urged to continue to support Hong Kong

The Chief Secretary, Mrs Anson Chan, today (Wednesday) urged Australia to continue to show goodwill and support by continuing to treat Hong Kong as a separate entity and as an important Australian interest in its own right.

At a luncheon hosted by the National Press Club, Mrs Chan briefed leading journalists in Canberra on the transitional arrangements and recent developments in Hong Kong. Specifically, she spoke about the future of Hong Kong's legislature; the protection of human rights after 1997; and freedom of the media.

She arrived at the capital this morning for the second stop of her three-city visit in Australia.