Over 120 senior government officials, businessmen, academics and Legco representatives attended the third economic forum on Nov. 29 to brainstorm ideas on how to strengthen Hong Kong’s service economy and contribute to policy-making affecting the industry.

The Quad Forum 1999, held at Government House, was jointly organised by the Hong Kong Coalition of Service Industries of the Hong Kong General Chamber of Commerce, the Business and Services Promotion Unit of the Financial Secretary's Office, and the School of Business of the Hong Kong University.

Speaking at the opening ceremony, Financial Secretary Donald Tsang said that despite a string of recent good news – China’s WTO imminent entry, the Cyberport, the Disney Deal and economic growth – Hong Kong cannot afford to become complacent.

"Other cities will eventually become more financially and economically sophisticated. We need to build on our strengths and seize opportunities on offer. We need to move along, sharpen our competitive edge, or be left behind in the bold new world of global marketing," Mr Tsang said.

Four panel sessions in the morning discussed "Hong Kong's Strategic Positioning: Policies and Roles;" "Economic Relationship with the Mainland;" "Technology in the Service Economy;" and "Tourism, Environment and Quality of Life."