I refer to the report headlined, 'WTO agreement 'good for HK' ' (South China Morning Post, November 17).
I totally agree with top Hong Kong government advisers who said the SAR will benefit from China's World Trade Organisation membership. Some people fear the role of Hong Kong will diminish after China's entry to the WTO, but we hold an irreplaceable role in the mainland market and can help to open China's market.
Since Hong Kong is a melting pot of East and West, it can adapt to international practices and regulate its economy and many people working here understand mainland business habits. This is why many multinational companies will continue to establish their regional head offices or representative offices here, seeing the SAR as a stepping stone to the mainland market.
Once China is in the WTO, Hong Kong's role as a middleman between China and the rest of the world will be strengthened.
We will also see the expansion of businesses both inside and outside the mainland. As China joins the WTO, foreign enterprises can obtain national treatment status, allowing them to sell products in the domestic market of the mainland and set up factories there.
Hong Kong can benefit by providing wholesale, storage, transport and trading services and management skills. Also, Hong Kong's exports to the US will increase rapidly after China joins the WTO as the Special 301 Act and the issue of discontinuing Normal Trading Status (formerly Most Favoured Nations) will no longer hinder exports to the US from Hong Kong's industries in the mainland.
