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HK chief urges WTO entry
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April 5, 2000: 4:34 p.m. ET
Tung Chee Hwa says U.S.-China trade agreement is a 'win-win' situation
By Staff Writer Martha Slud
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NEW YORK (CNNfn) - On the eve of a visit to Washington, Hong Kong leader Tung Chee Hwa said Wednesday he is confident that China would be accepted in the World Trade Organization, and that he finds it "surprising" that some members of Congress oppose a bill granting China permanent normal trade relations with the United States.
"China is set to become a member of the WTO," Tung said at an Asia Society luncheon at New York's Waldorf-Astoria hotel. "The issue is whether U.S. business will be able to participate in the mainland's substantial market opportunities. I am confident that at the end of the day, Congress will make the right decision."
Talks between China and the European Union broke down last week, dealing a big blow to China's bid for WTO entry. The European Union is a key WTO member that must give its approval before China can be accepted in the group. China has tried to enter the WTO and its predecessor -- the General Agreement on Tariffs and Trade -- since 1986.
 Meanwhile, U.S. legislators are considering legislation to grant China permanent trading privileges in the U.S. market. Passage of the bill, one of the priorities of the Clinton administration in the president's final months in office, is considered key to China's application to join the WTO.
The bill is expected to pass the Senate easily, but it has drawn opposition in the House from organized labor advocates and others who cite China's record on human rights, environmental record, threats to invade Taiwan, and the potential loss of U.S. jobs.
Tung said "it is surprising to me that there is so much debate here in the U.S." about granting China permanent trade status. "The U.S. trade agreement with the mainland is a win-win for U.S. business. China will be opening up its market quite dramatically, while the U.S. need not make any concessions."
Tung, who became chief executive of Hong Kong nearly three years ago when Britain handed over control of the former colony to China, said Hong Kong has rebounded after emerging from a recession brought on by the Asian financial crisis of 1998. The recession was the longest in Hong Kong's history.
"With the recovery of the regional economy in Asia, and the strength of the economy in North America, Hong Kong's economy is now rebounding strongly," said Tung, who lived in New York in the 1960s when he worked for General Electric (GE: Research, Estimates). 
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