Hong Kong named world’s freest economy for 15th consecutive year
Hong Kong’s ranking as the world’s freest economy remains unchallenged for the 15th consecutive year in the 2009 Index of Economic Freedom, jointly published by The Heritage Foundation and The Wall Street Journal.

Financial Secretary John C. Tsang said the Hong Kong government will continue its role as a facilitator. “We provide a business-friendly environment where all firms can compete on a level playing field and establish an appropriate regulatory regime to ensure the integrity and smooth functioning of a free market,” Mr. Tsang said.

Tsang announces new measures to contain effects of economic crisis
On January 22, Hong Kong Chief Executive Donald Tsang announced a series of measures to cope with the expected wave of staff layoffs and company closures after the Lunar New Year, and to assist school graduates who will be entering the labor market at mid- year.

Speaking after the third meeting of the Task Force on Economic Challenges (TFEC), the Chief Executive said the government will adhere firmly to the strategy of “stabilizing the financial system, supporting enterprises and preserving employment.”

Hong Kong and Guangdong to focus on enhanced cooperation
Hong Kong Chief Secretary for Administration Henry Tang and the Vice-Governor of Guangdong Province Wan Qingliang lead many productive discussions during the 12th Working Meeting of the Hong Kong/Guangdong Cooperation Joint Conference held in Guangzhou on January 21. The pair, leading their respective delegations, discussed how to implement the initiatives relevant to the cooperation among Hong Kong, Guangdong and Macao in the “Framework for Development and Reform Planning for Pearl River Delta Region” (Framework), which was announced by the National Development and Reform Commission earlier this month.

Both sides reached consensus and exchanged views on several major cooperation initiatives.

Government places priority on innovation technology talent
The Hong Kong Special Administrative Region Government is sparing no effort to create a favorable environment for a new, knowledge-based economy that enhances its international competitiveness. According to Deputy Commissioner for Innovation and Technology Gordon Leung, the first priority is nurturing adequate talent in innovation technology.

Speaking at the January 15 opening ceremony of the Dell Learning Centre at a local primary school, Mr. Leung said the provision of appropriate technological training and facilities and the wider adoption of information and communication technology remain significant factors in nurturing talent.

Chief Executive appoints 5 new members to Executive Council
Hong Kong Chief Executive Donald Tsang appointed five new members to the Executive Council effective January 21.

The new appointees are: Lau Wong-fat, professor Lawrence Lau Juen-yee, Anna Wu Hung-yuk, Marjorie Yang Mun-tak and V Nee Yeh.

“The five members are astute, perceptive and committed to Hong Kong. They also have a deep understanding across the spectrum of public affairs ranging from district affairs, social policies, business, financial services to economics and education,” Mr. Tsang said.