"The central government and all the Chinese people have confidence in Hong Kong, the shining pearl of China. It will always have a bright future," said Zhu when addressing the welcoming dinner held by the government of the Hong Kong Special Administrative Region (SAR).

Zhu said Hong Kong cannot treat its economic difficulties lightly, but added that he believed it could overcome them and go on to achieve new levels of success.

"The hope is with the 6 million Hong Kong people and the young generation," Zhu said.

In his keynote speech at the opening ceremony of the 16th World Congress of Accountants, Zhu also praised Hong Kong's "unique, irreplaceable" role in China's modernization drive.

The experience of Hong Kong since its return to China five years ago, demonstrates that the "one country, two systems" formula has not only enabled it to retain its former systems and characteristics in its continued role as an international trade, financial and shipping centre, but also enabled it to acquire greater support and even broader scope for development through its ties with the mainland, Zhu said.

It is true that Hong Kong is experiencing some difficulties in its economy right now, Zhu said, but its advantages remain.

Neither its economic strength nor its international competitiveness has declined, he said, noting that Hong Kong is a place of numerous talents, blessed with a contingent of top professionals and entrepreneurs, accountants included. "This is where Hong Kong's competitive edge lies," Zhu said.

During yesterday's meeting with the members of the Hong Kong Chief Executive's Council of International Advisers, Zhu said that the principle of "one country, two systems" provides Hong Kong with a strong guarantee and good mechanism for prosperity and stability.

In "one country," he said, Hong Kong enjoys the powerful backing and broad hinterland of China's mainland, while under the "two systems," Hong Kong can give full rein to its own advantages and vitality.

The non-official international advisers who attended the meeting included Chairman of the Supervisory Board of Siemens AG Karl-Hermann Baumann, Chairman of Lloyds TSB Maarten van den Bergh, Chairman and CEO of American International Group Maurice R Greenberg, Chairman of the Supervisory Board of DaimlerChrysler AG Hilmar Kopper, CEO of AOL Time Warner Inc, Gerald M Levin and Senior Adviser to the President of the Bank of Tokyo-Mitsubishi Tasuku Takagaki.

The premier yesterday also met and had brief talks with Edmund Ho Hau-wah, chief executive of the Macao SAR.

(China Daily November 20, 2002)