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Chief Executive Tung Chee Hwa has announced plans to invest up to HK$2 billion (US$256 million) on a HK$4 billion (US$512 million) second exhibition centre near the airport by 2005. The project, which is expected to reinforce Hong Kongˇ¦s competitiveness as a trade fair centre, is also expected to create 5,000 jobs and HK$10 billion (US$1.2 billion) of economic benefits in its first decade of operation. (full story)
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US Chamber of Commerce and TDC officials have pledged to help US companies, especially SMEs, strengthen alliances with Hong Kong SMEs to maximise business opportunities in the Chinese mainland market after WTO entry.
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The Chief Executive, Mr Tung Chee Hwa, announced a HK$15 billion (US$1.9 billion) package of measures to revitalise the economy, invest in the future and improve Hong Kong's business environment.
(full story)
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Hong Kong Exchanges and Clearing Limited (HKEx) announced it expects to have new clearing systems for stock and derivatives trade in operation by July next year, the Hong Kong i-Mail reported. Daytime trading is expected to be extended from 4pm to 6pm. The extended hours and updated system will strengthen Hong Kong's position as an international financial centre and provides market participants access to more information.
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More than 800 business and political leaders from around the world are attending the World Economic Forum's East Asia Economic Summit 2001, currently being held in Hong Kong (29-31 October). Speaking at the Opening Dinner Chief Executive Tung Chee Hwa said regional leaders were greatly concerned about short-term economic prospects, but were confident about regional prospects in the medium and long-term, especially with China's accession to the WTO and further market liberalisation.
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Hong Kong Electric Holdings is to invest HK$700 million (US$90 million) in a HK$9.8 billion (US$1.2 billion) power plant project in Thailand, reported the South China Morning Post. The move is the company's third big overseas investment in three years and follows the acquisition of two electricity distribution businesses in Australia.
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