Mutually beneficial: State Council Secretary-General Hua Jianmin (second from left) and Chief Executive Donald Tsang (centre) join the heads of nine provinces and Macau's Chief Executive at the forum's opening to show the spirit of "prosperity through partnership".

A financial-services forum to explore opportunities in collaboration in the Pan-Pearl River Delta Region and to encourage the use of Hong Kong's fund-raising and investment services will be held next March, Chief Executive Donald Tsang says.

Secretary for Financial Services & the Treasury Frederick Ma will head a delegation to Fujian in September to woo investment and enhance local investors' understanding of opportunities in the province.

Speaking at the second Pan-Pearl River Delta Regional Co-operation & Development Forum in Chengdu, Sichuan, today, Mr Tsang said the March forum, with the theme "Hong Kong as the Prime Capital Formation & Global Investment Platform for the Mainland", will enhance Mainland authorities' and enterprises' understanding of Hong Kong's financial services and encourage the use of the city's fund-raising platform to access the international market.

Three major roles

He noted Hong Kong's three major roles in fostering regional co-operation: helping enterprises in the region raise capital, providing support services for business activities in the region, and encouraging enterprises to make Hong Kong their base for exploring the international market.

Mr Tsang stressed the Government will continue to play an active role in fostering regional co-operation and boosting the city's economic development. This can be achieved through seizing the opportunities brought by rapid economic growth in the region, to implement Hong Kong's key development strategy of "leveraging on the Mainland, engaging ourselves globally", he added.

He said the goals agreed upon at the forum will impact greatly on regional economic growth and reinforce Hong Kong's status as Asia's world city and a regional trading hub. They include stepping up infrastructure development, promoting the opening-up of the market, advancing the implementation of the Mainland/Hong Kong Closer Economic Partnership Arrangement, and striving to increase direct flights within the region.

Transport network a key driving force

"One of the key driving forces underpinning Pan-PRD regional co-operation is the development of the transportation network," he said.

Hong Kong is strengthening its transportation links with the Pearl River Delta region and stepping up efforts on major infrastructure works such as the Hong Kong-Shenzhen Western Corridor, the Hong Kong-Zhuhai-Macau Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail Link.

Mr Tsang also welcomed efforts by the region to advance the implementation of CEPA, in particular the preferential access given to eligible service sectors under the arrangement. This will enable service suppliers in Hong Kong and Macau to gain quicker access to the region, provide quality services and better promote regional development.

He noted in the first two years of CEPA's implementation, about 29,000 jobs will have been created for Hong Kong people, while Hong Kong companies' investment in the Mainland in 2004 and 2005 will amount to $6.7 billion.

Regional co-operation is a long-term task, Mr Tsang said, adding Hong Kong will follow up on the forum's success and strive to explore co-operation opportunities.