**********************************************************
The Financial Secretary, Mr Henry Tang, today (May 29, Canberra time) briefed Australia's finance minister, foreign minister and Attorney-General on Hong Kong's latest economic developments and outlined opportunities for further economic co-operation with Australian enterprises.
On a two-day visit to Canberra, Mr Tang spoke to the Treasurer, Mr Peter Costello, and Shadow Treasurer, Mr Wayne Swan.
"They all expressed keen interest in the latest economic developments in Hong Kong, in particular our role as a two-way platform for overseas businesses seeking to invest in the Mainland of China or do business with Mainland enterprises," Mr Tang said.
Mr Tang also explained how the Closer Economic Partnership Arrangement (CEPA) with the Mainland and the Pan-Pearl River Delta economic co-operation initiative were designed to take advantage of the unique and complementary advantages of Hong Kong and the Mainland to create win-win situations for all.
The Financial Secretary also met the Attorney-General, Mr Philip Ruddock, before meeting with and attending a lunch hosted by the Minister for Foreign Affairs, Mr Alexander Downer.
"Legal certainty is absolutely essential to commerce," said Mr Tang, "that's why many Australian investors find our rule of law and common law system so attractive when they consider using Hong Kong as a base for their business operations in the region."
Mr Tang this afternoon left Canberra for Sydney, which is the last stop of his 10-day duty visit to New Zealand and Australia.
Tomorrow, Mr Tang will meet directors of the Lowy Institute for International Policy, an independent international policy think-tank based in Sydney. He will also attend a boardroom luncheon to be hosted by Macquarie Bank.
In the evening, Mr Tang will attend a cocktail reception hosted by the Hong Kong Tourism Board to launch the 2006 Hong Kong Shopping Festival. He will also give opening remarks at a concert by the Hong Kong Chinese Orchestra in the Great Hall of the University of Sydney.
Ends/Monday, May 29, 2006
Issued at HKT 16:01
NNNN
