Port facilities in Hong Kong, Shenzhen and the Pearl River Delta will be reviewed to boost co-ordination, Chief Executive Tung Chee Hwa says, adding that a decision on the need to build Container Terminal No.10 may be made within the year.

Mr Tung said today the focus of railway development in the Pan-Pearl River Delta will be the proposed Guangzhou-Shenzhen-Hong Kong Express Rail.

Relevant parties will explore the proposal's economic benefit. If implemented, the express rail will shorten travel time between Guangzhou and Hong Kong to an hour.

Mr Tung said the Central Authorities have shown full support for the Pan-Pearl River Delta development, and Hong Kong will play an active role to enhance its status as an international financial and logistics hub.

Minister of Communications Zhang Chunxian said at the first Pan-Pearl River Delta Co-operation & Development Forum earlier that further co-ordination of port facilities will bolster the region's advantages and Hong Kong's status as an international logistics centre.

New container terminal under study

Mr Tung said while the Government is looking into the feasibility of building Container Terminal No.10, a decision will be made after taking into account the development of other port facilities in the region.

Mr Tung said in the process of regional economic integration, cities and provinces will co-operate but also compete sometimes, and such competition is unavoidable.

For example, Hong Kong's airport operates many international flights while those on the Mainland operate more domestic ones. In this regard, the Airport Authority is exploring with Mainland airport operators areas for further co-operation.

On financial services, Mr Tung said Hong Kong's leading role as an international financial centre cannot be replaced. As the number of Mainland enterprises listed in Hong Kong's stock market keeps increasing, the Government will continue its efforts in corporate governance and monitoring the stock market.