More Open Policy Urged to Tide Over Tough Time, Leung

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Last updated at: (Beijing Time) Friday, November 30, 2001

More Open Policy Urged to Tide Over Tough Time, Leung

Hong Kong Financial Secretary Antony Leung said Thursday that the Hong Kong government will pursue open and transparent policy with even greater vigor and commitment to tide over the present difficulties.

Leung made the remarks at a gala dinner of the 14th General Meeting of the Pacific Economic Cooperation Council (PECC).

"The present difficult economic environment means that there is a need for all of us to pursue open and transparent policy with even greater vigor and commitment," he noted.

Leung said that PECC and its members have a challenging role in furthering trade and investment liberalization and in strengthening our macroeconomic structure.

"We are at the beginning of a new century when the forces of globalization, liberalization and technology will wage on with even greater vigor, and this promises enormous opportunities as well as challenges for every economy in the world," the financial secretary added.

Hong Kong has been a PECC member for ten years. Leung said that during the decade, the free market philosophy and openness to the world have enabled Hong Kong to capitalize on the dual forces of globalization and technological advancement, and transform the city into an international financial and services hub renowned for its dynamism, vibrancy and vigor.

"To stay competitive in this new global age, we must continue to build on our strengths, identify new niches and be alert to the trends of development," he said.

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