As the principal representative of the Hong Kong Economic and Trade Office in Tokyo, I am pleased to share the challenges and achievements of Hong Kong with our friends in Japan on the sixth anniversary of the establishment of the Hong Kong Special Administrative Region of China.
During the past six years, the HKSAR government has observed the "one country, two systems" principle. With well-established and transparent legal, financial and civil service systems, Hong Kong has played a key role as a regional hub to ease the flow of people, goods, services, technology and funds between China and the rest of the world. Seeing these advantages, many Japanese companies have set up bases in Hong Kong for better access to the Chinese market.
Hong Kong has just reinforced this role by signing the Closer Economic Partnership Arrangement, or CEPA, with China. This arrangement covers three main areas: trade in goods, trade in services, and trade and investment support. Many Hong Kong products will benefit from a zero tariff, as will a number of sectors from deregulation of management consulting services, banking, securities, insurance, legal services and so on.