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COMMUNICATIONS, THE MEDIA AND INFORMATION TECHNOLOGY

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strengthen economic stability in the Asia-Pacific region and encourage the development of a responsible and rules-based global economy.

Before leaving the United States, the Chief Executive stopped in southern California, meeting senior executives of The Walt Disney Company, including the Chairman and Chief Executive Officer, Mr Michael Eisner, at the company's headquarters in Burbank and discussing issues relating to the development of Hong Kong Disneyland. He also visited the company's theme park and research facilities. During his visit to Los Angeles, Mr Tung took the opportunity to discuss environmental protection issues with city officials.

The Financial Secretary, Mr Donald Tsang, visited North America in June to brief business and political leaders and members of think tanks, academia and the media on the latest economic developments in Hong Kong following the strong rebound. He highlighted Hong Kong's ability to take advantage of the Internet revolution with its foundation of the rule of law, personal liberty, a clean and efficient administration and a level playing field for all businesses.

Beginning his visit in Canada, Mr Tsang told members of the Vancouver Board of Trade and the Hong Kong - Canada Business Association that the cornerstones of Hong Kong's success had been preserved and protected since reunification. Mr Tsang's visit also included meetings with the editorial board of The Vancouver Sun and the Fraser Institute, a free market think tank.

In the United States, Mr Tsang visited New York and Boston before travelling to Washington where he had a series of meetings with business executives, lobbyists, congressmen and bankers. During a meeting with Senator Bill Roth, Chairman of the Senate Finance Committee, he emphasised that support for PNTR would be in the mutual interests of the United States, China and East Asia, and also bring significant benefits for Hong Kong.

Mr Tsang was the keynote speaker at a luncheon organised by the New America Foundation, a relatively new Washington think tank, at which he highlighted the uniqueness of Hong Kong, 'politically, economically, geographically and constitutionally'. He had meetings with the US Chamber of Commerce, the Cato Institute (a public policy research foundation that has consistently ranked Hong Kong as the world's freest economy), and the new Managing Director of the International Monetary Fund, Mr Horst Kohler. He also visited the headquarters of America Online, the giant Internet service provider, in Dulles, Virginia.

In New York and Boston, Mr Tsang met representatives of credit-rating agencies and financial institutions, briefing them on the speedy recovery of Hong Kong's economy. Mr Tsang was also interviewed on major financial television news programmes and met journalists from various publications. Mr Tsang called on the President and Chief Executive Officer of the Federal Reserve Bank of New York, Mr William McDonough. While in Boston, Mr Tsang also made courtesy calls on the Governor of Massachusetts, Mr Paul Cellucci, and the President and Chief Executive Officer of the Federal Reserve Bank of Boston, Mrs Cathy Minehan.

The Financial Secretary visited Boston again in November, to receive an award from Harvard University's Kennedy School of Government, from which he had graduated with a Master of Public Administration degree in 1982. Mr Tsang discussed political and economic developments in East Asia with the school's senior academics, and his visit culminated in a dinner and awards ceremony during which he