Speaking at the opening ceremony of ITU Telecom Asia 2002, Tung said the exhibition provides "an excellent chance for all of us to learn from each other, share our thoughts and map out our plans to overcome the challenges and exploit the opportunities that will come. In doing this, we can create a better world for everyone."

The chief executive said the challenge Hong Kong people face at this moment is how to successfully restructure the economy -- a restructuring made necessary by globalization and the advent of the knowledge economy.

"In the process of restructuring the economy, we will strengthen our competitive advantages as an international financial center, a key transport, logistics and communications hub and a vibrant center of commerce, trade and tourism," he added.

The IT revolution may be in a slow motion at the moment, but it still has the capacity to improve the quality of life for people around the globe. ITU Telecom Asia 2002 could just provide the insights and the impetus to launch the industry on its next wave of prosperity, he said.

In its September 2002 report, the ITU ranks Hong Kong as number one in the world on its mobile and internet index, recognizing its competitiveness in infrastructure, usage as well as open and free market.

The exhibition, which will run from Dec. 2 to Dec. 7, has attracted some 325 exhibitors from around the world.

(Xinhua News Agency December 2, 2002)