Distinguished Guests, Ladies and Gentlemen, First of all, I wish to congratulate the Independent Commission Against Corruption (ICAC) and the Interpol on the success of this conference, a conference which has attracted over 500 delegates including anti-corruption experts, law enforcers, representatives from world organizations, and financial institutions and academia from around the world. It is indeed a great honour for Hong Kong to co-host this global conference with the world's preeminent organisation. I would also like to extend my warmest welcome to all our participants, who come from all over the world and yet share a commitment to the same cause. The participation of 65 law enforcement agencies from more than 59 jurisdictions and eight international organisations in this conference reflects a truly global partnership in fighting corruption. Corruption is a social crime. Its adverse effects on a society can be very significant if left unchecked. It can erode the rule of law, undermine the efficiency of governments, stifle economic development, and in some cases may trigger social and political unrest. With accelerated economic globalization and rapid advances in technology, corruption today transcends national boundaries, and has taken on a new dimension. It has become a means to facilitate and perpetuate syndicated crimes, including international money laundering schemes, massive commercial fraud scams, cross-border drug trafficking, smuggling of human beings and many other serious crimes. To tackle corruption as a global issue and a cross-border crime, we need a global approach and a border-less alliance. Hong Kong's ICAC and Interpol have built up a very solid relationship over the years to combat corruption through the promotion of international co-operation and strategic alliance. Hong Kong is a premier international financial center and is widely recognised as one of the most competitive and freest economies in the world. Among the many fundamental strengths that Hong Kong possesses, I am particularly proud that we are rated as one of the least corrupt places in the world. Despite these achievements, there is no room for complacency. At the moment, we are facing tremendous challenges as our economy grapples with restructuring. This conference provides a valuable forum for all participants to share experiences and to exchange ideas and initiatives for tackling corruption. I am sure everyone here will benefit in one way or another. Ladies and Gentlemen, I now declare the Conference open, and wish you a fruitful and very memorable stay in Hong Kong. Thank you.