Better Hong Kong Foundation and Business Week Hosted CEO Forum With 200 Business and Political Leaders to Discuss Asia’s Economic Outlook

The Better Hong Kong Foundation successfully hosted the Third Annual Business Week CEO Forum in Hong Kong. More than 200 international business and political leaders gathered at the Grand Hyatt Hotel October 13-15 to discuss a wide range of business issues around the theme, “Managing the Speed of Change: Meeting the Needs of Tomorrow.”

Leaders including the Hon. Tung Chee-Hwa, Chief Executive of the HKSAR, the Hon. David Li, Chairman and Chief Executive of the Bank of East Asia, the Hon. Yu Xiaosong, Chairman of the China Council for the Promotion of International Trade (CCPIT), and former U.S. President George Bush appeared at the Forum to address Asia’s future challenges.

At the opening dinner, HKSAR Chief Executive Mr. Tung Chee-Hwa spoke of his vision and plan to position Hong Kong as Asia’s premier international city in the 21^st century. Asia’s development in the aftermath of the Asian financial crisis was on the minds of many participants. Dr. David Li, a member of the Foundation’s Board of Trustees, viewed this Forum as a golden opportunity for Asia to review its lessons learned after the economic turmoil of the last two years. During remarks at the gala dinner of the Forum, he said, “The Asian crisis will prove to be part of a step forward, not a step back. What we learn from all this will make us significantly stronger and more prosperous in the years ahead.”

Because Asia’s future is inevitably linked to China’s future, the participation of senior Chinese government officials in the Forum was met with great enthusiasm. The Honorable Nellie Fong, Chairman of the Foundation’s Executive Committee, when introducing Mr. Yu Xiaosong, Chairman of the China Council for the Promotion of International Trade (CCPIT), noted, “As Asia copes with the aftermath of the region’s financial crisis, China will no doubt serve as a driver of much of Asia’s recovery.”

Mr. Yu Xiaosong, in his remarks, reaffirmed China’s commitment to economic reform and to continual opening of the international market. He said, “China, as the largest developing nation in the world, is seizing the opportunities and embracing the challenges with a more open mentality and greater enthusiasm.”

At the close of the three-day conference, former U.S. President George Bush gave a keynote address that focused on the world’s move into the new millennium against the background of the present geo-political scenario in the Asia-Pacific region. Former U.S. President Bush praised Hong Kong’s resilience since the handover in July 1, 1997. He used the phrase “promises made, promises kept” to establish the smooth return of Hong Kong to Chinese sovereignty. He reasserted his great confidence in Hong Kong, administered by Chief Executive, Mr C.H. Tung. President Bush was also optimistic on Asia Pacific transformation in the new millennium as regional economies rebound. However, he warned this was no time for complacency, stressing that bilateral U.S-China relations were crucial to world peace and global prosperity.

The Better Hong Kong Foundation considers this year’s Forum to be a rousing success. Mr. George Yuen, Chief Executive of the Foundation said, “The CEO Forum demonstrates that despite recent economic setbacks, Hong Kong remains Asia’s leading hub for business activities and communications. The Better Hong Kong Foundation by facilitating interaction between Hong Kong, Mainland, and the rest of the world, hopes to promote useful exchanges and reinforce Hong Kong’s dynamic image.”

 

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The Better Hong Kong Foundation is a privately funded, non-profit, non-political organization, formed by leading Hong Kong business people. The Foundation aims to reinforce Hong Kong’s role as the regional leading financial, shipping, trading and communications centre. It also serves to enhance greater international understanding between East and West. The Foundation is committed to facilitating communication between Hong Kong and China and the international community.