Hong Kong has a formidable future thanks to its ties with the Chinese mainland, says Sir Keith

Sir Keith was speaking at an informal HSBC shareholders' meeting in Hong Kong, on the eve of his retirement from the bank at which he has spent 42 years of his life.

"To be sitting here on the threshold of the economy and country most people think will be the other powerhouse alongside America is a tremendous opportunity. The current trend is more a blip than a trend. Hong Kong will continue to be a very formidable place."

Sir Keith suggested that Hong Kong's future lay in its ability to serve as the link to China, providing financial services to foreign businesses eager to tap the mainland market.

"I see Hong Kong still as probably the best city to invest in for most foreign businesses who want to do business in China. The strength of China's economic development will continue to be a major positive factor for Hong Kong."

The departing chief executive of Hong Kong's biggest bank shrugged off concerns about the impact of Sars. "Hong Kong tends to be too pessimistic and self-critical. Hong Kong has passed through many crises over the years and always comes out stronger."