Hong KongÆs role could get shanghaied

Red chip COSCO chief Dong Jiufeng examines Hong KongÆs position in light of ChinaÆs accession to WTO - just donÆt mention privatization.

Dong Jiufeng, executive vice chairman and president of COSCO Hong Kong Group, says Hong Kongs role as Chinas trade entrept will erode as the mainlands transportation infrastructure improves. Shanghai in particular will threaten Hong Kongs lock on trade and trade services, he says.

COSCO is the mainlands monopoly shipping company, with about 30% of the importexport transportation market for the mainland foreign shippers such as Maersk Sealand have the rest. COSCO is listed on the Hong Kong Stock Exchange.

Dong outlined Hong Kongs strengths, which will work in its favour once China enters the WTO, at a dinner hosted by the Asia Society. The...

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