Transcription
I can tell you that there was no shortage of cynics who warned that no exhibition center can survive without government subsidy. Yet we were profitable from day one.
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Thank you for giving me this opportunity to offer heartfelt congratulations on your 60th anniversary. I'm sorry not to be there in person, but you can be sure that I'm with you in spirit. This milestone brings back for me many happy memories from the 1980s. The store promotions we staged in some of the world's most famous department stores. Hong Kong products prominently displayed alongside international brands and the respect and interest that greeted us everywhere we went.
The creation of the first convention and exhibition center gave me enormous gratification. With a government land grant, the TDC took on responsibility for the this massive task, raising the finance, developing a business plan, designing the center, supervising the construction, and operating it on completion. I can tell you that there was no shortage of cynics who warned that no exhibition center can survive without government subsidy. Yet we were profitable from day one, establishing overnight a new industry in Hong Kong, and soon it had to be expanded again and again.
I was astonished to hear that the TDC now annually hosts some 40 international exhibitions and conventions at the center, attracting participants from 190 countries. None of the TDC success would have been possible without its exceptional staff. The words no, not possible do not exist in their vocabulary. No matter how difficult or urgent a task thrown at them, the response is always positive. I should like to take this opportunity to commend them all and especially to offer my personal gratitude to the team who supported me throughout my years as chairman.
I used to travel the world pointing out Hong Kong's advantages as a place to live and to work, its people's can do spirit and entrepreneurial instincts, its common law system, its independent judiciary, its low taxation, and above all, its proximity to a market that's very nearly 1 and a half billion people. Despite uncertain times, Hong Kong's fundamentals remain unchanged. It is uniquely placed to grasp the opportunities that China offers in its innovation and leadership in so many fields, especially in technology and in AI.
I'm sure that this important message is being spread far and wide under Fred M's charismatic leadership. What a ride you have had. The best is yet to come. I wish you every success and a very happy birthday.