British Prime Minister Tony Blair met with Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa at Downing Street on Tuesday, saying he was happy with Hong Kong's steady economic development.  

Tung said at a press conference afterwards that during their "very nice talks", he informed Blair of Hong Kong's economic situation after Blair's July visit and the prime minister indicated great care for Hong Kong's development.

It is expected that Hong Kong's economic growth rate will reach 3 percent this year, said Tung.

Blair's official spokesman said that during their talks, Blair also spoke highly of Hong Kong's efforts against the spread of SARS earlier this year.

Tung's two-day visit starting Monday was designed to boost ties with political and business leaders there and brief them on the latest developments in Hong Kong.

Britain has a clear stake in Hong Kong's continuing prosperity as the second largest European investor in Hong Kong with the total British investment estimated to be worth some 4 billion pounds (some US$6.68 billion).

Meanwhile, Hong Kong is Britain's second largest Asian market, taking some 2.4 billion pounds (about US$4 billion) of British exports annually, according to the latest data from the British foreign office.

Some 26 percent of British exports to Chinese mainland also pass through Hong Kong and many British companies use Hong Kong as a base for their operations in China and the rest of the region.

In the other direction, some 80 percent of all Hong Kong investment in Europe is in Britain.

The regular exchange of high-level visits in both directions has helped develop the bilateral relationship, the British foreign office says.

(Xinhua News Agency November 12, 2003)