 |
Hong Kong Chief Executive Donald Tsang hosts a press conference on October 15 afternoon after delivering his Policy Address at the Legislative Council. |
Hong Kong Chief Executive Donald Tsang, delivering his annual Policy Address entitled “Embracing New Challenges” to the Legislative Council on October 15, said that the resilience of Hong Kong’s people would help the city emerge stronger from the current global financial turmoil.
Mr. Tsang said that Hong Kong would turn the current crises into opportunities by vigorously pursuing economic development in areas such as financial services, cross-boundary integration, infrastructure projects, creative industries and scientific research.
The Chief Executive said he would establish and chair a task force to assess the impact of the financial crisis on Hong Kong's economy, and propose specific options for the government and business community to address the challenges.
“This will help us overcome the crisis, turn it into new business opportunities and enhance our competitiveness,” said Mr. Tsang.
Mr. Tsang said the government would continue to help people ride out the current difficulties, protect public interests and help everyone to progress.
There also would be greater efforts to improve the living environment, to directly engage the public and to boost cooperation with the new Legislative Council.
Mr. Tsang said good progress had been made implementing the major infrastructure projects and initiatives outlined in the 2007-2008 Policy Address.
These would increase employment opportunities and economic benefits, which would give fresh impetus to economic growth at a time when the external economic environment was deteriorating.
“In times of uncertainties, there is a greater need to keep calm and to accomplish our tasks pragmatically,” said Mr. Tsang. “Hong Kong is on the right track with its development.
“Hong Kong people are known for our resilience in the face of adversity. All these years, we have worked miracles in times of difficulty, making continuous improvements and progress,” he added. “I have full confidence in Hong Kong people. Our people should have confidence in themselves, too. Sharing a common vision, we can rise above all challenges and emerge stronger.”
Mr. Tsang said the government would use the current economic crisis as an opportunity to reinforce Hong Kong’s position as a global financial center.
This includes enhancing banking supervision, tightening regulation of fund managers, establishing an independent Insurance Authority, giving employees greater say over MPF investments and increasing efforts to broaden the scope of stock exchange listings.
The Chief Executive said Hong Kong also needed to broaden its horizons and intensify economic integration with the Pearl River Delta (PRD) if it wanted to stand out in the face of severe global competition.
He said the government needed to take the lead in building a Hong Kong-Shenzhen metropolis as well as strengthening cooperation with Guangdong.
The focus would be on: promoting cooperation in service industries; actively working with Guangdong to optimize and upgrade industrial infrastructure while assisting Hong Kong enterprises to respond to mainland China policy adjustments; actively facilitating cross-boundary environmental protection to create a green and quality living area in the PRD Region; and strengthening coordination and planning of cross-boundary infrastructure projects.
The government would work with Shenzhen authorities and consult the public on the development of the Lok Ma Chau loop — with a focus on exploring uses for higher education, high-tech research and development or cultural and creative industries.
Mr. Tsang said that to complement enhanced cross-strait relations, the HKSARG would strengthen exchanges and cooperation with Taiwan.
The government would encourage local and Taiwanese business leaders to establish a Hong Kong-Taiwan Business Cooperation Committee to foster closer links in areas such as trade, investment and tourism. The Hong Kong Trade Development Council (TDC) would also establish an office in Taipei.
New immigration procedures to come into effect in January 2009 would also make it easier for frequent business visitors and tourists from Taiwan to come to Hong Kong.
To help commerce and business development, the government would also discuss with the TDC a phase 3 expansion of the Hong Kong Convention and Exhibition Centre at a nearby site.
And, to promote the development of creative industries, a new Creative Industry Office would be set up under the Commerce and Economic Development Bureau to integrate, realign and coordinate the work of different departments and to work closely with the trades.
In his policy address, Mr. Tsang also announced new initiatives to upgrade the quality of life in Hong Kong.
Mr. Tsang said Hong Kong residents felt that a quality living environment, which covered air quality, living space, cultural infrastructure and heritage conservation, was just as important as economic development.
Noting that Hong Kong transformed over the past two decades from a manufacturing base into a services-based economy, Mr. Tsang said, “Such a transformation has impacted on urban planning and set the stage for us to re-examine ways to beautify our cityscape and upgrade the quality of life to make Hong Kong an ideal home.”
Mr. Tsang said a consensus had been reached with Guangdong to jointly transform the Pearl River Delta Region into a green and quality living area under the principle of promoting environmental protection and sustainable development.
He said Hong Kong and Guangdong would jointly work to achieve this objective in areas such as post-2010 emissions reductions, optimization of fuel mix for power generation, wider use of renewable energy, vehicle emission reductions, enhanced conservation and greening and scientific research.
The Chief Executive unveiled several measures that would help reduce greenhouse gas emissions, improve air quality and encourage recycling. These include adopting new air quality targets in stages, giving due regard to the World Health Organization guidelines; promoting the use of clean fuels such as gas for power generation; legislating for mandatory compliance with building energy codes; and introducing an environmental levy on plastic shopping bags at selected retail outlets in 2009.
The Chief Executive said that the Development Bureau would coordinate the work of different departments to ensure the effective implementation of plans to beautify areas along the Victoria Harbour waterfront.
Mr. Tsang also announced plans to develop pedestrian programs that would minimize pedestrian-vehicle conflicts and also help to improve roadside air quality.
To better protect and promote Hong Kong’s natural beauty, the government also would consider the development of a geological park covering the special rock formations and features along the New Territories East coastline.
Mr. Tsang said the government would also do more to boost cultural activities in districts, by encouraging cultural and performing arts groups to perform across the city.
“We will continue to support artistic creation and overseas exchanges, encourage tertiary institutions and professional arts groups to nurture intermediaries for arts services, and develop a broad audience base,” he said.
“Our joint efforts will help realize the vision of developing Hong Kong into a world-class arts and culture destination,” said Mr. Tsang.
|
