The past year was an exciting one for China affairs, China Committee Chairman Stanley Hui said during his report to members at this year's Annual General Meeting.

China's entry into the WTO, Beijing's winning bid to host the 2008 Olympics, and the start of consultations on the Mainland / Hong Kong Closer Economic Partnership Arrangement (CEPA) between the Central and Hong Kong SAR governments all bode extremely well for the Mainland and Hong Kong economies.

"All these developments will create numerous business opportunities for Hong Kong firms," he said.

In July last year, the Chamber launched the "China WTO Corner" on its Web site (www.chamber.org.hk/wto) to alert members to such opportunities and to update them on China's rapidly changing business environment.

Another WTO-related initiative was a series of nine workshops held from September to December last year. Working group members who contributed to the Chamber's report on "China's Entry into the WTO and the Impact on Hong Kong Business" were invited back for a "reunion" to review and update the report based on developments over the past two years.

Expanding upon the chairman's report that the Chamber has been championing the proposal on CEPA, Mr Hui said the China Committee will continue to contribute views as the consultation process goes forward.

The committee organised several missions over the past 12 months to expand the Chamber and members' connections with Mainland officials. For example, a 22-member China Committee delegation to Beijing in February 2001, called on MOFTEC, State Administration of Taxation, and other Central Government administrations.

Other missions to Zhuhai, Zhongshan and Macau; Liaoning and Heilongjiang; Guangxi and Yunnan; and the annual mission to Xiamen, were also very fruitful.

"On each mission, members met with the highest level leaders such as governors, party secretaries, vice governors, and mayors," Mr Hui said.

A number of very distinguished inbound visitors from China helped the Chamber further expand its Mainland network. These included then Mayor of Shanghai Xu Kuangdi, China's former chief WTO negotiator Long Yongtu and then Senior Vice Minister of MOFTEC Sun Zhenyu. Other VIP visitors included Deputy Commissioner of the State Administration of Taxation Cheng Faguang, governors from Anhui, Liaoning, Shandong, Heilongjiang, Henan, and Yunnan and mayors from Shenzhen, Tianjin and Lanzhou, among others.

"Meetings and events were organised and were very good avenues for members to establish connections with these key figures from China and to learn about new opportunities in the Mainland from them," Mr Hui said.

Roundtable luncheons on China-related topics also allowed members to keep up to date on developments and opportunities in China. Topics ranged from "B-share Market in China" to "Business Opportunities in Shanghai Waigaoqiao Free Trade Zone."

"In addition, we continued to cooperate with the China Council for the Promotion of International Trade to provide training on "Attracting Foreign Funds in China's Western Development" to businessmen from China's western region," Mr Hui said.