US Secretary of State Hilary Clinton attends a luncheon organized by the American Chamber of Commerce at Island Shangri-La in Hong Kong July 25, 2011. [Photo/Agencies]

HONG KONG - US State Secretary Hillary Clinton said here on Monday that the four principles of healthy economic competition she laid out earlier this year are "easy to say but hard to do" and the United States and its partners should further promote them.

The four principles, first asserted in March at the APEC senior officials'meeting in Washington, were openness, freedom, transparency and fairness.

Speaking at a lunch event hosted by the American Chamber of Commerce in Hong Kong, Clinton said a growing number of countries in Asia are proving the value of these principles and the United States deeply believes in them, because "their value has been proven time and again, not only in times of prosperity but also in times of hardship, as well."

She said that these four principles are easily uttered and embraced, but they do not implement themselves. "So our challenge is always to translate them into practice. And my country is hard at work doing that, and we encourage other governments to join us in this effort."

Clinton underlined that the US government is taking steps to "promote these principles around the world through multilateral and regional institutions, new trade agreements, and outreach to new partners, to enlist us all in the quest for inclusive, sustainable growth. These steps are connected to and build upon the work we are doing to revitalize our own economy."

She also said the United States must save more, borrow less and spend less in a bid to realign its economy towards more balanced and sustainable growth.

The US top diplomat arrived in Hong Kong late Sunday after visiting India and Indonesia. She met with Hong Kong Chief Executive Donald Tsang and some of the city's legislators Monday morning.