"The final report, which was released in January 2000, was well received by the business community as well as SAR Government officials. As of today, almost 800 reports have been sold," China Committee Chairman Dr Lily Chiang (left) said at the AGM.

In March 1999, the committee reacted to the Central Government's promulgation of a series of regulations to strengthen the control on processing industries in China. It organised an internal meeting in May and also conducted an all-member survey on the issue, she said. The views of members were channelled to appropriate Central Government authorities through written submissions and meetings with Central Government officials and Hong Kong SAR trade officials.

"We were pleased to learn that members' concerns were well received and considered by the Central authorities," she said.

In March 2000, detailed implementation rules on "Multiple Deposit Guarantee Payment Methods for the Processing Industries" were announced, providing a workable solution to the issue, she said.

Through its close working relationship with Chinese officials, the committee has also managed to elevate the quantity and quality of China-related programmes and events.

In 1999, besides the annual working delegation to Beijing in March, two investment study missions were organised to Guangzhou, and Shanghai and Jiangsu in July and December respectively. Two Chamber delegations attended the Third China Fair for International Investment and Trade in Xiamen in September and the first China Hi-Tech Fair in Shenzhen in October, both being the largest delegations from Hong Kong.

It also organised two Training Seminars on "Attracting Foreign Funds in China's SOE Reform" in January and November.

"The training seminars, with the endorsement from Premier Zhu Rongji himself, aimed to provide participants with modern concepts and techniques for them to ?ackage' and present themselves to the international market," Dr Chiang said.

Future Commitment

With China's imminent entry into the WTO, the China Committee will work to the best of its ability to promote business connections between Hong Kong and the mainland.