Outsiders have clearer view of our city's true excellence

There is a Chinese proverb that says: "Bystanders see clearer than players".

The Wharf (Holdings) chairman Peter Woo seemed to be making that point in his chairman's statement in the group's annual report. He noted that Hong Kong had become the top brand and the place to go for many goods and services mainlanders preferred. Thus, the current extraordinary surge in demand from the mainland should be treated as a "happy" problem, even though it challenged the city's capacity and creativity.

Here he was subtly referring to tensions between Hongkongers and mainlanders triggered by the growing demand on many fronts from across the border.

"We certainly have ample fiscal means and the capacity to deal with our political and social issues," Woo wrote. "Perhaps we, ourselves, are still not believers of our own success, something international observers would find strange. The sky has not fallen and it is not going to fall; we can handle any problem."

Woo does not normally comment on current affairs, but his words carry weight. He took over his business empire from his late father-in-law, shipping tycoon Sir Yue-kong Pao, in the 1980s. He has since expanded a significant part of the group's business to the mainland, while maintaining its leading status in Hong Kong.

He was one of four candidates to run for the post of first chief executive of Hong Kong back in 1996. After losing to Tung Chee-hwa, he returned to the family business, but he also took up some important public service positions, including that of chairman of the Trade Development Council from 2000 to 2007.