Government and business leaders, including Chief Executive Donald Tsang and Peng Qinghua (3rd right), deputy director of the Central Government's Liaison Office in Hong Kong, officiate the opening ceremony of the seminar on the 30th anniversary of the country's reform and opening-up. The event was organized by the Friends of Hong Kong Association at Hong Kong Convention and Exhibition Centre yesterday. Edmond Tang

Hong Kong can continue to contribute to the mainland's economic development, 30 years after the country's reform and opening-up, with the city's advantages in finance and service industries, officials, academics and business leaders said yesterday.

At a seminar on the 30th anniversary of the reform and opening-up of the mainland, organized by the Friends of Hong Kong Association, the invited guests recognized that Hong Kong has made tremendous contributions to the amazing developments on the mainland for the past 30 years.

Tung Chee-hwa, vice chairman of the CPPCC National Committee, said Hong Kong enterprises were the first to invest on the mainland when the reform policy started in the late 1970s to early 1980s.

Peng Qinghua, deputy director of the Central Government's Liaison Office in Hong Kong, praised the SAR for making irreplaceable contributions to the mainland over the past 30 years.

As Hong Kong's prosperity and the mainland's reform and opening-up are closely related, he said, Hong Kong can further support the country's development.

Lawrence Lau, economist and vice chancellor of the Chinese University of Hong Kong said: "Without the contributions of Hong Kong, the mainland's reform could not have carried out so smoothly and successfully".

However, to maintain an important role in the mainland's economic development in the next 30 years, academics pointed out, Hong Kong must make use of the advantages that it already has to increase cooperation with the mainland .

Wu Jingliang, an economics professor at Peking University, said Hong Kong is still important in mainland development, because Hong Kong's world-leading service industry and legal system are areas that the mainland can learn from.

Looking ahead to Hong Kong's role in the mainland's development, Lau said a close economic cooperation with Guangdong is a must.

For example, Hong Kong and Shenzhen should have economic integration to supplement each other's advantages.

Business leaders called for Hong Kong not to lose sight of its unique characteristics.

Ronnie Chan, chairman of property developer Hang Lung Group, urged Hong Kong people to have "a sense of crisis" in the mainland's future development, as the gap is closing between the mainland and Hong Kong.

He suggested think tanks to lead studies and discussion on Hong Kong's economic integration with Shenzhen.

Sharing Chan's view, Gordon Wu, chairman of property developer Hopewell Holdings, said Hong Kong's way out is actually quite simple.

"Hong Kong has to provide what the mainland needs, continue to be a bridge in world trade and enhance our lead in quality services," he said.

Peter Woo, chairman of Wharf Holdings, said that as long as there is a market on the mainland, there will be business opportunities for Hong Kong.

"The more big mainland cities like Shanghai, the more beneficial to Hong Kong," he said.

Tung said Hong Kong should develop new advantages in professional services, such as brand-building and logistics.

(HK Edition 12/05/2008 page1)