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HK Will Seize Every Opportunity Arising from China’s Deepening Reforms.doc

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HK Will Seize Every Opportunity Arising from China’s Deepening Reforms

HK Will Seize Every Opportunity Arising from China’s Deepening Reforms THE Third Plenary Session of the 18th Central Committee of the Communist Party of China（CPC） adopted the Decision of the CPC Central Committee on Some Major Issues Concerning Comprehensively Deepening Reform， which charts the countrys future development. Hong Kong， global hub of commerce and trade with the largest offshore RMB liquidity pool， bears great significance to the mainland economy. Since the plenum， many have asked the question： How will Hong Kong Special Administrative Region employ the opportunities that the envisioned deepened reforms create to advance its collaboration with the mainland？ China Today put this question to Chief Executive Leung Chun Ying of Hong Kong SAR in an exclusive interview. Deepened Cooperation on Multiple Fronts China Today： The decision adopted at the plenum relates to multiple fields of reform. To which do you think Hong Kong could best lend its advantages？ In what ways will the region accelerate its cooperation with the mainland amid China’s fresh bout of opening-up and reforms？ Mr. Leung： HK is a global trade and financial hub whose service sector is among the worlds most developed， and which accounts for 90 percent or more of its GDP. HK is prominent by virtue of its huge talent pool， international vision， rich experience in the service industry， innovative thinking， and high professionalism. These qualities make HK a valued complementary partner for the mainland in the latter’s efforts towards industrial restructuring and upgrading. The two sides signed the Mainland and Hong Kong Closer Economic Partnership Arrangement （CEPA） in 2003， and have since signed 10 supplements to it. The CEPA includes 403 measures to open up trade in services between the two signatories. It thus significantly facilitates their cooperation in this regard， and augurs mutual benefit for businesses on both sides. The agreement is also a boon to HK service providers e