 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.
With respect to education services, Mr. Tsang said new measures
will be introduced to further internationalize the sector,
including allowing Mainland students to pursue studies in
non-local programs at a degree level or above in Hong Kong, and
encouraging higher education institutions to step up exchange
and promotion in Asia. To further diversify the sector, more
privately financed degree-awarding programs will be introduced.
The Chief Executive proposed a HK$2 billion (CAD$270 million)
increase to the Start-up Loan Scheme to help institutions meet
the costs of purpose-built accommodation and facilities.
Meanwhile, more training places will also be created in the
medical services sector, and Hong Kong will be promoted as a
centre for Chinese medicine. "The Government will expedite the
setting of standards for Chinese herbal medicines commonly used
in Hong Kong and will consider allowing more renowned Chinese
medicine practitioners from the Mainland to join clinical
teaching and research programs in Hong Kong, so as to make Hong
Kong a stage for promoting Chinese medicine to the world."
The newly created Hong Kong Council for Testing and
Certification will play a key role in promoting the testing and
certification sector, and has drawn up a three-year plan for
that industry.
To encourage enterprises to invest in high technology and
scientific research, the Government is launching a "R&D Cash
Rebate Scheme" under which eligible enterprises will enjoy a
cash rebate equivalent to 10% of their research and development
investments.
For environmental industries, Mr. Tsang proposed extending the
scope of the Cleaner Production Partnership Program to further
assist factories in the region to adopt cleaner production
techniques. Since the launch of the Program in April, 2008 over
330 projects have been approved. In addition, Hong Kong
enterprises are now able to participate in Clean Development
Mechanism projects in the Mainland.
With respect to cultural and creative industries, Mr. Tsang said
the Government would continue to promote regional co-operation
in this field under the Closer Economic Partnership Arrangement
(CEPA). "The latest supplement to CEPA introduces further
liberalization measures for creative industries, such as film,
publishing, printing, and online game products." Mr. Tsang added
that the Government will seize opportunities in the West Kowloon
Cultural District to promote the arts and culture in schools,
and throughout the community.
Finally, Hong Kong will strengthen co-operation with Guangdong
Province through a formal agreement now in discussion between
the two governments, under which, each of the six industries
will greatly benefit. |
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