THE Olympic spirit yesterday reached the upper levels of Government when the Financial Secretary, Hamish Macleod, enthused about the benefits Hong Kong would reap if China hosted the Games. Speaking after a Po Leung Kuk directors' luncheon meeting, he said: ''It will certainly do our economy good. I think there would be both a psychological and a material effect. ''The material effect is that we must benefit from the increase in visitors to China. Whether we also get some of the events is more speculative, but, certainly, we must benefit from the influx of tourists to China, and the general spotlight that will beplayed on this part of the region. ''The psychological part of it is that it will certainly boost confidence in China and in Hong Kong.'' Meanwhile, the Olympic spirit sent the stock market soaring, with the Hang Seng Index going up 102.1 points to close at 7,581 on hopes that China would host the event. Head of Economic Research at the Bank of East Asia Benjamin Chan Sau-san said the rise was due to general optimism that China would succeed in its bid. He said: ''From the psychological point of view, it would have an indirect effect on Hong Kong as the image of China in the worldwide community would improve. Mr Chan said the influx of tourists into China in 2000 could help boost the number of visitors to Hong Kong. However, co-ordinator of the China Business Centre at Hong Kong Polytechnic Thomas Chan Man-hung said the territory could experience zero tourism growth because many Hong Kong residents would go to see the Games in Beijing, levelling off any increase in arrivals.
