Hosting ITU TELECOM WORLD 2006 brings not only tremendous economic benefits to Hong Kong and the Mainland, but also new business opportunities, Chief Executive Donald Tsang says.

Speaking at the event's opening ceremony today, Mr Tsang said it is one of the largest trade shows ever held in Hong Kong.

Grand opening: NPC Standing Committee Chairman Wu Bangguo and Chief Executive Donald Tsang open ITU TELECOM WORLD 2006.

China gateway

Mr Tsang said: "It underlines Hong Kong's unique position as a global hub for information and communication technology (ICT). It reinforces our position as an international events capital, a leading digital city, and Asia's world city.

"Hong Kong's advantages on the digital front are magnified many times by our unique position as the premier gateway to China, the world's largest ICT market. It makes us the ideal place for companies with an eye on the market on the Mainland to showcase their excellence and network with potential business partners."

He added that setting up regional operations locally is the logical first step to entering the Mainland market with Hong Kong having a reliable, high-capacity telecommunications connections between itself and the Mainland. So far, more than 3,800 overseas companies have set up offices in Hong Kong, and the number is growing.

Exceptional merits

National People's Congress Standing Committee Chairman Wu Bangguo said Hong Kong enjoys exceptional advantages in developing the ICT industry, citing its excellent ICT enterprises, its experience in business development and management, and its world-recognised prestige.

He also pointed to Hong Kong's free and open economy, sound and healthy legal system, its broad links with international markets and many economic talents who are familiar with international practices.

With an indispensable, mutually-complemented economic link with the Mainland, Hong Kong can tap the vast China market and get endless momentum for its development, Mr Wu said.

Comprehensive coverage

Hong Kong broadband networks cover virtually all commercial and residential buildings, with a household penetration rate of 67%. Three-quarters of those families can choose between two or more broadband networks. The 3G broadband mobile networks are being upgraded to 3.5G standard.

Mr Wu  today officiated at the event along with Nobel Peace Prize laureate Professor Muhammad Yunus, Mr Tsang, ITU Secretary-General Yoshio Utsumi, and ITU Executive Manager  Fernando Lagrana.

He today visited the event venue at AsiaWorld-Expo, inspecting a number of booths, including the Hong Kong, China, Pavilion, which occupies 2,528 square metres. He also had a meeting with the heads of eight participating international companies.