Provides Vision During Challenging Times — Better Hong Kong Foundation Forum Panelists Support Policy Address But Call For More Measures To Tackle Current Challenges

Academics and analysts support the long term vision and plans outlined by Chief Executive Tung Chee-Hwa, describing them as a step in the right direction for the HKSAR against the backdrop of global financial turmoil. At the same time, they are urging the government to come up with concrete measures to tackle the more immediate problems, such as unemployment and high interest rates, faced by the people of Hong Kong. This remark came from the five panelists who participated in the Better Hong Kong Foundation Forum on the HKSAR’s Chief Executive Annual Policy Address.

This is the second year the Better Hong Kong Foundation has organised such a forum. Participants in the forum included:

1. Professor Nelson Chow, Department of Social Work and Social Administration, the University of Hong Kong
2. Mr. Andy Ho, Political Commentator
3. Professor Lau Siu-Kai, Associate Director of the Institute of Asia-Pacific Studies and Chairman of the Department of Sociology of the Chinese University of Hong Kong
4. Professor Richard Wong, Director and Chair of Economics as well as Director of the APEC Study Centre, the University of Hong Kong
5. Dr. Eden Woon, Director of the Hong Kong General Chamber of Commerce
6. Mr. George Yuen, Chief Executive of the Better Hong Kong Foundation.

“The medium to long term policies outlined in the Policy Address demonstrates the Government’s commitment and confidence in the future which is why it’s investing in longer term plans,” said Professor Richard Wong. “On short term measures, the Chief Executive touched on the much concerned issue of stabilising property prices. Among the 85,000 housing units to be built, the 35,000 units to be constructed by private property developers may not be realised. To put it in a more direct way, this 85,000 figure may not be met.”

“In a bid to raise productivity, the Policy Address brings into the economic sphere the development of high technology. The government must assume a leading role in promoting innovative technology,” Professor Wong adds.

On the subject of information technology, Dr. Eden Woon believed this Policy Address provided a positive business environment for international investors. “Many technology companies would be very interested in this new direction and this will also appeal to Hong Kong people looking for a new economic dimension.”

Mr. Andy Ho echoed Dr. Woon’s views and favoured the Chief Executive’s move to turn Hong Kong into the region’s centre for electronic commerce as part of the Government’s initiative on high techology and innovation. However, he pointed out that the Policy Address requires more efforts to realize that objective. “There needs to be more soft infrastructure: not just computer software but supporting measures like security, relevant laws and data protection.”

With regards to the general provision of social services to the needy and under privileged in these difficult times, Professor Nelson Chow, felt that the SAR Government should take a critical look at the present situation and come up with a more direct relief programme. Amongst the programmes, he noted that the proposed increase of 15 more home help teams in the coming year is not enough to encourage more elderlies to live at home. Despite the inadequacies of the services, he also believed the Policy Address was consistent with the Government’s aim to care for, among others, the elderly.

Professor Lau Siu-kai believed the Policy Address emphasized the long term economic development which helped to stabilize the social environment in the near term. However, the HKSAR government should do more to address the pressing issues in the short to mid term. The Better Hong Kong Foundation and the Forum panelists pointed out the Government’s need to focus more on confronting the current challenges.

Professor Lau also supports the Chief Executive’s vision in investing in human capital and information technology, saying these are conducive to Hong Kong’s economy in the long run. “It’s very understandable that given the current situation and environment, there’s very little the Government can do,” added Professor Lau. “However, that is not to say that the Government can’t mobilize other sectors of the community to help each other out and bring unity during these challenging times.

Mr. George Yuen, endorsed the idea. “In difficult times, we need to come together and be pro-active. Our Foundation looks forward to working closely with other sectors of the community and contribute to boosting public confidence,” said Mr. Yuen.

The Foundation will submit a report to the Chief Executive’s office based on the discussion forum.