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Investors Urged To Look Beyond HK's Short-Term Economic Woes

by Philip Morton, Investors Offshore.com

25 September 2002

Hong Kong's Permanent Secretary for Financial Services and the Treasury, Tony Miller this week counselled investors to look beyond the jurisdiction's short-term economic worries to the potential afforded by its geographical location.

Explaining that commentators sometimes overestimate the threat posed by other cities in the region, such as Shanghai and Singapore, Mr Miller argued that rival territories are aiming at different areas of the Chinese mainland, and suggested that as China continues to open up to foreign investment, there will be more than enough opportunities to go round.

'The size of the pie is growing at an incredible speed. Whichever way you look at it - whether from Shanghai or from Hong Kong - significant investment will be needed in new port capacity and other infrastructure simply to keep pace with the phenomenal growth in trade flows,' the Hong Kong Standard quoted the Permanent Secretary as observing this week.

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