One of the world's most cosmopolitan and exciting cities, Hong Kong is a financial and commercial powerhouse, and a transportation and communication crossroad for all Asia. Its unique history and circumstances have fostered a vital economy characterized by openness, an international outlook and flexibility. Easy access to new technologies and services, excellent communications, stable workforce, reasonable regulatory environment and low taxes make it receptive to local and foreign business needs. It is well-organized, comfortable and easy to get around in -- a unique blend of Western style and Eastern ambience.

At first glance, Hong Kong may seem thoroughly Westernized, but that is an illusion. Beneath the neon-lit façade, Hong Kong's essence is completely Chinese. At its core are traditional Chinese customs, beliefs and values that have been undeterred by historical colonial ownership. Hong Kong has thus served as a window on the West for mainland China and a window into mainland China for the West.

Hong Kong's appeal lies also in its sheer dynamism and pure energy -- most of which is driven by the pursuit of money, embodying a strain of capitalism as pure as can be found on the planet. Throughout Hong Kong people are buying, selling, trading and planning at a kinetic pace. Decisions -- and money -- can be made fast. An old Hong Kong proverb goes: "Register a business in the morning. Open in the afternoon. Have a profit by nightfall." Today, Hong Kong is considered Asia's financial center, third most important in the world after New York and London.

Hong Kong has been experiencing an ongoing economic transformation that is seeing the onetime British colony becoming completely integrated with the mainland. The Hong Kong business community, both Chinese and expatriate, is now very much a part of China, and is a key beneficiary of the rapid Chinese economic growth. Hong Kong accounts for more than two-thirds of China's foreign investment, and has supplied most of the technical expertise that has helped China develop its industries and infrastructure.

While concerns have occasionally flared since the 1997 transition to Chinese sovereignty, we continue to see evidence that the government's highest priorities are to provide a business-friendly environment, an infrastructure of law, tax and public policy that enables well-run businesses to thrive and make profits.

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