Better Hong Kong Foundation Panelists Applaud Clear Direction Provided in Policy Address

1999-Academics and analysts support the long term vision and plans outlined by Chief Executive Tung Chee-Hwa, describing them as laying out a clearer roadmap for making Hong Kong an international hub. Panelists believe that improving Hong Kong’s environment and attracting and nurturing talent will help win back residents’ confidence in the city’s future. These remarks came from the four panelists who participated in the Better Hong Kong Foundation Forum on the HKSAR’s Chief Executive Annual Policy Address.

This is the third year that the Better Hong Kong Foundation has organized such a forum. The forum participants include:

1. Professor Lau Siu-Kai, Associate Director, Hong Kong Institute of Asia-Pacific Studies, The Chinese University of Hong Kong
2. Dr. Lo Chi Kin, Managing Director, C. K. Lo & S. Lam Ltd. (Panel Moderator)
3. Professor Richard Wong, Director, School of Business, The University of Hong Kong
4. Dr. Eden Woon, Director, Hong Kong General Chamber of Commerce
5. Ms. June Tong, General Manager, The Better Hong Kong Foundation

Setting a positive tone for the forum discussion, Professor Lau Siu-Kai described the Chief Executive’s Policy Address this year as realistic, practical and “back to basics.” “Looking at today’s Policy Address,” he said, “it seems that the Government wishes to re-establish the role Government plays in the economy. It wants to revert to the former system under the British Government of focusing on providing basic infrastructure and nurturing talent, improving the environment, and maintaining a friendly business climate.”

Professor Lau found the Policy Address this year to be more specific in terms of policy proposals. He remarked, however, that the Government would need to change its governing style and coordinate with Hong Kong people in order to push its agenda forward. “Because the Government has a shortage of resources,” Lau said, “its long-term commitments require support and sacrifices from the people.”

Forum participant Professor Richard Wong commended the Policy Address as having well-articulated key points. He applauded the Government’s intent to improve the environment and believes that the Government has provided specific proposals, particularly regarding controlling transportation and gas quality. Furthermore, the Government’s emphasis on collaborating with different regions on Mainland China to improve the environment shows its seriousness and determination. However, Professor Wong wished that the Chief Executive had included a previous proposal to collect tolls on certain public roads. “Even though the Policy Address noted that the total number of cars in Hong Kong is not high, automobile usage of roads is several times higher than that in other countries. People who drive around only during weekends and those who drive regularly influence the rate of pollution to varying degrees. Therefore, collecting a toll would be an effective and helpful environmental policy.”

Professor Wong pointed out that in the few years before Hong Kong reverted back to Chinese rule, Policy Addresses focused mainly on questions regarding the Handover. Since 1997, Hong Kong’s political situation has stabilized, allowing the current Policy Address to focus more on societal and economic questions that affect Hong Kong.

Dr. Eden Woon of the Hong Kong General Chamber of Commerce also found the Policy Address satisfactory. He observed that the Hong Kong business community would appreciate Tung’s assurance that Government interference in the market only occurs under extreme circumstances. In addition, Woon said that paying attention to the environment would not only improve Hong Kong residents’ health, but can also help to attract talented foreign high-tech experts to Hong Kong. He said, “If we wish to attract high-tech experts from beautiful locations abroad, we must know that a polluted environment would help to turn them away.”

Noting the Chief Executive’s emphasis on education and the need to attract talent, Dr. Woon concluded that the Hong Kong Government has recognized that Hong Kong realizes it must have an impressive pool of talent in order to achieve international hub status comparable to that of New York or London.

Dr. Woon also pointed out that the Policy Address provided a clear direction for Hong Kong’s future development and can raise people’s confidence in the city. He said, “In the past, Hong Kong was only seen as an intermediary between China and the international financial community. Hong Kong wants to become a high-tech center; therefore, it can no longer focus on real estate as the residents’ chief concern. Today’s Policy Address not only charted a clear direction for future but also outlined the challenges and problems that must be solved by the collective effort of Hong Kong people.”

Mr. George Yuen from the Better Hong Kong Foundation said, “Chief Executive C. H. Tung emphasized the importance of free markets and fair competition when he talked about the Government’s role in economics. These conditions are essential for Hong Kong’s future economic development. He mentioned that the Government would continue the economic policy-maintaining limited government involvement and focusing on infrastructure building. We believe that preserving “small” government will be important to the business community and especially to maintaining international investors’ confidence in Hong Kong. Facing fierce competition, the Government will be able to respond more effectively to changes in the economic climate.”

The Better Hong Kong Foundation will provide the Chief Executive’s Office with a report of this forum discussion.

 

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The Better Hong Kong Foundation is a privately funded, non-profit, non-political organization, formed by leading Hong Kong business people. The Foundation aims to reinforce Hong Kong’s role as the regional leading financial, shipping, trading and communications centre. It also serves to enhance greater international understanding between East and West. The Foundation is committed to facilitating communication between Hong Kong and China and the international community.