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Following are the opening remarks by the Secretary for Economic Development and Labour, Mr Stephen Ip, at China Maritime 2006 Opening Ceremony today (February 28) (English only):
Mr Baird, distinguished guests, ladies and gentlemen,
It is my great pleasure to officiate at the Opening Ceremony of CHINA MARITIME 2006 today - the first major maritime event of its kind ever held in Hong Kong. I would like to take this opportunity to extend my warmest welcome to all our guests from different parts of the world, who have come to join this event in Hong Kong. I wish you all a very enjoyable stay here.
The China Maritime 2006 exhibition is a significant event for the maritime industry. It has brought together a large number of exhibitors, key industry players, visitors and participants from all over the world. Let me first congratulate the Baird Publication on successfully organising the exhibition, and I thank all the exhibitors for their enthusiastic support.
The rapid and strong economic growth of Mainland China has been a catalyst to the growth and development of the global maritime and shipping industry. Last year, the gross tonnage of new ships in China amounted to 12 million deadweight tons, and the booming China economy is clearly the driver for increasing demand for shipping services worldwide. Hong Kong, with our unique geographical position, is at the heart of the busiest maritime region in the world, and has been serving as a gateway and an important maritime and logistics hub both for Mainland China, and for the region. Our dynamic maritime community brings together many internationally renowned ship managers, brokers, financial institutions, insurance houses and law firms, forming a sizeable maritime cluster which provides high quality, efficient and reliable services for shipping companies, shipowners, investors and consignees.
As well as our geographical location, Hong Kong's business friendly environment has also been a major magnet for investors. Our low tax regime, with a corporate tax ceiling of 17.5% and the absence of any capital gains tax, provides a fertile ground for shipping and maritime services to flourish. But we think this is still not good enough. So we have just abolished estate duty. This will not only further facilitate our business but also promote the development of Hong Kong as an important asset management centre. For the maritime and shipping industry, this latest tax reform provides another incentive for using Hong Kong as a ship management and maritime service centre.
At this timely juncture, the CHINA MARITIME 2006 has wisely brought together elite players in the international maritime industry to Hong Kong, where vessel owners and operators, ship and port managers, ship builders and officials from Mainland China and other parts of the world will meet. The event offers an ideal platform for local as well as international exhibitors to promote their products and services to a high quality international audience. Through this event, we hope that visitors and exhibitors would find Hong Kong a useful spring board to tap into the enormous shipping and maritime market in Mainland China and Asia as a whole.
Before closing, as tourism is also under my purview, may I take this opportunity to invite you also to explore Hong Kong's cultural and tourist attractions whilst taking up new business opportunities and checking out the many quality maritime services that we provide.
Once again, I would like to thank the organiser for coming to Hong Kong to host this important event on the international maritime calendar, and I wish all of you every success in your business endeavours. Thank you.
Ends/Tuesday, February 28, 2006
Issued at HKT 10:57
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