At a National People's Congress (NPC) press conference Friday, Premier Zhu delivered the Central Government's most optimistic view of Hong Kong's status as an international financial center.

Zhu said that no major cities on the mainland would surpass Hong Kong in the short term, and that Hong Kong's strengths have not yet be fully utilized.

The rosy picture painted by the premier of the role of the Hong Kong Special Administrative Region (SAR) received warm response among the local deputies to the NPC and the community.

Hong Kong has a sound stock market, financial apparatus and systems that can provide a center for fund-raising for mainland companies, South China Morning Post quoted Priscilla Lau Pui-king, a Hong Kong NPC deputy, as saying.

Ma Lik, another NPC deputy said that Zhu's remarks are a vote of confidence for Hong Kong and that Hong Kong should see the mainland as its hinterland for future development.

Hong Kong University Professor Sonny Li suggested economic integration between Hong Kong and the mainland, which Premier Zhu Rongji referred to.

In an editorial, Hong Kong iMail said that it is obvious Hong Kong's economic future lies in its ability to take advantage of the booming mainland economy, the world's fastest growing and potentially the largest market.

The mainland has an overwhelming advantage in terms of costs but Hong Kong has its own strengths.

"The trump cards are bilingualism, a freely convertible currency, easy access for multinational firms, internationally accepted accounting standards and above all the free flow of information and the rule of law," the editorial added.

(Xinhua News Agency March 18, 2002)