Hong Kong Chief Executive Makes Policy Address

The Hong Kong Chief Executive, Mr Tung Chee Hwa, delivered the second Policy Address of his second term on January 7. The address, entitled “Seizing Opportunities for Development, Promoting People-based Governance”, highlighted how Hong Kong can capitalize on new opportunities to build on the current economic recovery, meet the challenges of globalization and improve governance.

Mr Tung cited the many factors contributing to economic recovery, including:

• growing Mainland economy and an improving world economy
• closer interaction between Hong Kong and the Mainland
• implementation of the Closer Economic Partnership Arrangement (CEPA)
• development of personal renminbi business by local banks
• expansion of the Individual Visit Scheme for Mainlanders

Hong Kong will continue to develop and reinforce opportunities for financial services, producer services, logistics and tourism, said Mr Tung, as well as promote new growth in manufacturing, high-tech, creative industries, the local economy and international asset management.

The HKSAR Government is meeting the challenges of globalization with investment in education, employment promotion and training. HK$1.2 billion will be set aside to fund:

• extension of 11,000 temporary positions
• extension by 2 years of the Youth Work Experience and Training Scheme
• introduction of a 1-year trial scheme to help 1,000 young people become self-employed

The Hong Kong Chief Executive said he and his colleagues have paid close attention to keen public expectations for improved governance. “We will fairly and justly manage the community’s different interests and points of view,” he said. “We will involve a broad spectrum of society in the formulation of policies.”

Mr Tung said the measures were designed to benefit Hong Kong’s political stability and orderly development, economic revival and social peace and the preservation of harmonious relations with the Mainland under ‘One Country, Two Systems’. 

He said that President Hu had pointed out to him the serious concern and principled stance of the Central People’s Government (CPG) toward the development of Hong Kong’s political structure. 

Mr Tung said he will set up a Task Force to examine the issues, particularly those concerning the understanding of relevant provisions of the Basic Law, and consult relevant authorities of the CPG.

The Hong Kong Chief Executive expressed his optimism about Hong Kong’s economic prospects and said Government is determined to work with the community to promote Hong Kong’s political, economic and social development.

“We share a common goal of developing ourselves into Asia’s world city, a city that will be the envy of the world,” he said.


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