Distinguished guests, ladies and gentlemen, may I add the South China Morning Post's warm welcome and thanks to all of our speakers and all of you attending this conference on the Pearl River Delta (PRD). We are honoured to be jointly organising this conference with the Hong Kong General Chamber of Commerce, and to be sponsored by Mainland Headwear Holdings Ltd. I am sure you will agree, from today's large attendance, that this is a topic close to all of our hearts and futures. We have a wonderful group of experienced businessmen, government representatives and academicians to share their views and concerns with us. There are many issues we will be discussing that impact on all of us living in Hong Kong and north of the border. These are critical issues for our future; they include the flow of goods, services and people within the region, environmental issues, and investments throughout the delta, whether for manufacturing, logistics or infrastructure. And most of us have a fair amount of experience with the issues we are going to discuss, even if it is only crossing the border to shop or play golf! We at the South China Morning Post have for many years recognised that the developments in the delta have been extremely important and newsworthy. We have been reporting on the PRD for almost 100 years - the Post celebrates its centenary next year. More recently, we were the first news organisation to be given official approval to open a news bureau in Guangzhou in early 1998. Our coverage is not limited to our correspondents in Guangzhou. From Hong Kong our reporters have been covering many stories and topics. But our emphasis has been business and economic news. In particular, we have been following the performance and experiences of Hong Kong companies which have moved capital and resources across the border. On the other side of the coin, we and our readers have been intrigued by the growth and success of local companies in the manufacturing and export markets. We have followed the huge emphasis on infrastructure and logistics developments. Our efforts are focused on providing the information for our readers to make better, informed decisions affecting their daily lives. We want to encourage debate and develop the context in which the PRD developments are discussed, especially as these issues of trade, environment and business development affect not only southern China and Hong Kong, but Greater China as well. We hope you enjoy the conference and we look forward to hearing your thoughts and ideas over the next two days and in the future.