A Hong Kong official said that Hong Kong is well positioned to serve as the global commerce and financial center in the Asian time zone, according to a press release from the Information Services Department of Hong Kong Special Administrative Region government on Tuesday.

Hong Kong Secretary for Commerce and Economic Development Frederick Ma made the remarks when addressing 300 business people, professionals, government officials and the press at a business conference organized by the Hong Kong Economic and Trade Office in San Francisco on Monday at local time.

Ma said Hong Kong has sound economic fundamentals, free market principles and advantages as the pre-eminent two-way springboard for overseas companies to access the Chinese mainland market, as well as for Chinese enterprises looking for expansion into the global arena.

"Hong Kong is an open, efficient economy and the U.S. is our second largest trading partner, just after the Chinese mainland. Our bilateral trade in 2006 was worth over 63 billion U.S. dollars," he said.

He described Pan-Pearl River Delta co-operation as an exciting initiative among the nine southern China provinces.

"We believe the region will grow into one of the world's largest and most efficient economies, and contribute to the overall development of China," he said.

Ma also visited the President of the Walt Disney Animation Studios and the award-winning Pixar Animation Studios Ed Catmull to discuss the computer-animation industry's development.

The department said Ma also called on the Chinese Consul- General in San Francisco and other business leaders in his one-day visit. He next heads to Washington D.C., Toronto and Vancouver.