Speaking earlier this week Chinese Premier, Zhu Rongji referred to the 'unique, irreplaceable' role that Hong Kong plays in the mainland's modernization drive, and called the territory 'the shining pearl of China'.
Speaking at the 16th World Congress of Accountants on Tuesday, Premier Zhu suggested that, despite the current economic difficulties facing the SAR authorities, Hong Kong's international competitiveness, reputation for professionalism, and entrepreneurial spirit have not declined.
Although Zhu attempted to allay fears with regard to the territory's burgeoning budget deficit, he also warned that the SAR economy may not yet be over the worst, despite the optimism of recent weeks.
'I don't think Hong Kong's difficulties have now bottomed out. Fellow countrymen and colleagues, it hasn't bottomed out. Be psychologically prepared,' he cautioned.
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