 On
October 14, Chief Executive Donald Tsang gave his annual Policy
Address which stressed the need for Hong Kong to diversify into
areas that complement its traditional pillar industries of
financial services, tourism, trade and logistics, and
professional services. Among other things, Mr. Tsang announced
initiatives to develop six industries in which Hong Kong enjoys
a clear advantage:
1. education services;
2. medical services;
3. testing and certification services;
4. innovation and technology;
5. environmental industries; and
6. cultural and creative industries. 
 As
Asia's world city, Hong Kong is steadily gaining global
recognition as an international arbitration centre for the Asia
Pacific region, providing an ideal venue for speedy and reliable
dispute solutions.
This is one of the key messages that Mr. Yan Lung Wong,
Secretary of Justice of the Hong Kong SAR government, conveyed
to federal Minister of Justice, Robert Nicholson, Madame Chief
Justice Beverley McLachlin, as well as other senior judiciary,
legal, business, academic figures and government officials
during his three-day whirlwind visit to Ottawa and Toronto in
October.
Wong said, as large international disputes involving Chinese
parties were on the rise, some international arbitration
organisations have started moving eastwards to set up shops in
Hong Kong to serve the entire Asia Pacific region.
 Hong
Kong is once again ranked as the world's freest economy, scoring
even higher in the Fraser Institute's 2009 "Economic Freedom of
the World" Annual Report, than it did in 2008. In fact, since
the report was created in 1996, Hong Kong has consistently taken
up the 1st place among the 141 countries reviewed; Singapore,
New Zealand, Switzerland and Chile rounded out the top 5. Canada
ranked 8th in the study, down from 7th in 2008. The United
States ranked 6th. In individual categories, Hong Kong ranked
number 1 in "freedom to trade internationally," and 3rd in size
of government, receiving full scores in a number of areas
including, government enterprises and investment, top marginal
tax rate, freedom to own foreign currency bank accounts and
taxes on international trade.
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Constitutional Secretary Brings