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Editor's Note

When Hong Kong returned to Chinese sovereignty in 1997, there were many who questioned the new Hong Kong Special Administrative Region's (HKSAR's) financial prospects.

But on the Chinese side, realists recognized the HKSAR's potential, and there was scarcely a doubt that Hong Kong would not only succeed but prosper in its new relationship with the mainland, especially economically.

That the latter was a truer estimate is attested in the many reports issued around the world by various economic authorities and in pundits'commentaries, where some admit, "We were wrong,"in doubting Hong Kong's resilience and viability. Flash forward to October 17, 2007, when the UN Conference on Trade and Development issued a report describing Hong Kong as "Asia's second largest destination for foreign direct investment (FDI),"and a "front-runner" economy. Further, Hong Kong and the Chinese mainland accounted for more than half of the FDI flows into Asia in 2006.

As Hong Kong Director-General of Investment and Promotion Mike Rowse put it: "To be second in Asia and seventh in the world is an impressive feat for a city economy of seven million people."

So with the economies of Beijing and Hong Kong doing just fine, the events of the recently concluded 11th Beijing—Hong Kong Economic Cooperation Symposium dealt not so much with "whether" things should be done to improve economic relations between Beijing and Hong Kong, but more with "how" to do them, referring specifically to the critical needs of each entity, from city management techniques to services industry outsourcing, tourism and film-making.

Beijing's contributions to Hong Kong's success since the return are undeniable, and Hong Kong investors loom large in Beijing, where their presence is growing an appreciated. The ties are becoming wider and deeper, and the potential in the relationship is almost staggering.

The 11th Beijing—Hong Kong Economic Cooperation Symposium built upon this now long-standing win-win relationship. Congratulations to all of those who have helped make this economic success possible.