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HONG KONG COALITION OF SERVICE INDUSTRIES
Report on the “Hong Kong Services 2000” Study
April 2000
Services 2000 Project team
Stephen Ching
Andrew Kao
Wing-Fai Leung
Clement Wong
Anming Zhang
DEPARTMENT OF ECONOMICS AND FINANCE
FACULTY OF BUSINESS
CITY UNIVERSITY OF HONG KONG
EXECUTIVE SUMMARY
1. Introduction
At the end of the Uruguay Round, the World Trade Organization (WTO) decided that another round of negotiations on the liberalization of trade in services under the General Agreement on Trade in Services (GATS) be mandated to start on the 1st January 2000. This has now become known as “Services 2000.”
Hong Kong is the most service-oriented economy in the world: the services sector now accounts for 85% of Hong Kong’s gross domestic product. In his third Policy Address last October, the Hong Kong Special Administrative Region (SAR) Chief Executive C. H. Tung expressed his desire to see Hong Kong become a world-class, cosmopolitan city comparable to New York and London. Services liberalization and globalisation will play a major role in achieving this vision. Hong Kong thus has a major stake in multilateral trade policy-making in services.
To prepare better for the GATS negotiations in 2000, the Hong Kong Coalition of Service Industries (HKCSI) launched a study entitled, “Opportunities from Liberalization of Trade in Services – The Private Sector’s Interest.” The primary objectives of the project are to:
develop a private sector “wish list” on the issues that Hong Kong service providers would like to address during Services 2000;
help service providers explore business opportunities arising from GATS; and
increase the business sector’s awareness of the importance of GATS.
It is hoped that the project can contribute to “good” policy making in the WTO that is of commercial relevance to Hong Kong, and to enable Hong Kong better to position itself as an international trade and investment destination in services for potential inves
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