HONG KONG, July 3 (Xinhua) -- Hong Kong Commissioner for Economic and Trade Affairs in USA Margaret Fong presided over Monday's ceremony to open the NASDAQ stock market in New York, according to news from the Information Services of Hong Kong Special Administrative Region (HKSAR) government on Tuesday.

The opening was to mark the first trading day following the 10th anniversary of Hong Kong's return to China and the establishment of the HKSAR.

The Commissioner said in her remarks that under the concept of "one country, two systems", Hong Kong has continued to thrive as a free, open and dynamic community.

She said that over the past 10 years, Hong Kong has made important strides as a major financial, trading and logistics center. The market capitalization of its stock market has risen five times to 2.0 trillion U.S. dollars and its total trade in goods and services has increased by 67 percent to 740 billion U.S. dollars.

"Our unwavering commitment to free trade has won us the notable distinction of the world's freest economy and our respect for the rule of law has earned us the accolade as the most independent judicial system among economies in Asia," she added.

"As Hong Kong moves into the next decade, we will consolidate our strengths and seek to maintain our position as the premier financial and trading hub for the Asia-Pacific region," she said.

The Commissioner noted that Hong Kong will continue to reach out to exchanges round the world. she stressed that she was particularly delighted to be at the opening bell ceremony at NASDAQ to mark the 10th anniversary, because NASDAQ was the first overseas exchange Hong Kong struck an alliance with.