And there are a host of factors contributing to this: the airport design, the wide range of international carriers which operate here and the excellent ancillary  services which we have here at the airport.

Aside from this, of course, aviation safety is terribly important. Over the decades, Hong Kong has been able to maintain an excellent and impeccable record of aviation safety.

In all these respects, I am pleased to say that the Hong Kong Aircraft Engineering Company has made a significant contribution in making Hong Kong' airport one of the most successful in the world. This team we have in HAECO is part of the Hong Kong airport's "A Team".

I would like to take today's opportunity to share with you three aspects which are very close to my heart.

Firstly, I believe that the opening of  HAECO's third hangar will help broaden Hong Kong's horizons as the international aviation hub in Asia.

HAECO has been providing aircraft maintenance services to Hong Kong for many decades. Its history spans the heydays of Kai Tak into the 1990's and into the 21st century in which we have the Hong Kong International Airport here at Chek Lap Kok. 

Enhancing airport safety and upgrading maintenance standards over the decades have been no easy task and have been no small feat. Hong Kong International Airport is one of the busiest in the world. It rates first in terms of international air cargo. It ranks fifth in terms of international air passengers.

Now hangar three will be a most important addition to the facilities which we have here. It will keep Hong Kong ahead of the competition. Its timely investment actually highlights HAECO's confidence in Hong Kong's future in terms of maintaining our position as an aviation hub and as a major destination for tourism and trade in Asia.

The second point which I would like to share with you is that aviation plans continue to move forward. The airport's master plan for 2030 is already in the making. In this study we, the Government, together with the trade, would wish to embrace many key issues including the third runway, terminal facilities, logistical support and other developmental needs of Hong Kong in the aviation field.

Over the past year, like many other business sectors, the aviation and tourism sectors have had to face a tremendous challenge as a result of the financial tsunami and the economic downturn. But I am pleased to note that, in recent weeks, there have been hopeful signs that the downturn may be tapering off and that brighter days may lie ahead. 

But I hasten to add that we are not yet in a position to predict whether Hong Kong's economy and, for that matter, the aviation and tourism sectors are already turning a corner and will be off to a full recovery. 

Now the third point I would like to point out today is that the Hong Kong Government is fully committed to maintaining Hong Kong's connectivity with Mainland China and the rest of the world.

In this connection, I would like to cite three key infrastructure projects. First of all, we have on the drawing board a rail link to link up the Hong Kong and Shenzhen airports.

As and when we get this Hong Kong-Shenzhen airport railway, this will improve interconnectivity between the two places and this will help us maximise and optimise the operation of the two airports and enhance cross-boundary traffic flow.

Later this year, the Government also intends to commence work on two other key infrastructural links: the Hong Kong-Zhuhai-Macau Bridge and the high speed railway which will go from West Kowloon to Guangzhou.

As and when this high-speed railway is built, it will take us less than one hour to get from West Kowloon to Guangzhou, five hours to Wuhan, eight hours to Shanghai and 10 hours to Beijing.

Acting Chief Secretary Stephen Lam gave this address at the Hong Kong Aircraft Engineering Company's hangar three oening cremony at Hong Kong International Airport.