Tung Pledges to Do Best to Lead HK out of Economic Downturn

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Last updated at: (Beijing Time) Monday, July 01, 2002

Tung Pledges to Do Best to Lead HK out of Economic Downturn

Chief Executive Tung Chee Hwa of the Hong Kong Special Administrative Region(HKSAR) pledged Monday to "act to the best of my abilities" to lead Hong Kong out of economic downturn.

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Chief Executive Tung Chee Hwa of the Hong Kong Special Administrative Region(HKSAR) pledged Monday to "act to the best of my abilities" to lead Hong Kong out of economic downturn.

Speaking at the inauguration ceremony of the second-term government of the HKSAR, Tung pointed out the biggest challenge facing his government is to lead Hong Kong out of economic downturn and restore Hong Kong people's confidence in the future.

To this end, Tung noted he would reform the structure of the government to ensure that the governance would move with the times.

He added the government would use every possible means to promote economic restructuring, improve further the business environment, attain higher growth by tapping the opportunities unleashed as a result of China's rapid economic development, and create more employment opportunities.

He said the immediate priority is to respond to the expectations of the public and to reform the style of administration.

Tung reiterated that his government would continue to look after those who are disadvantaged and underprivileged, to empower them to look after themselves and to strengthen solidarity among all circles in Hong Kong.

"I have evaluated comprehensively the success and shortcomings of our governance in the last five years. For the Second Term Government, with the introduction of the Principal Officials Accountability System, we will ensure that there is a clear delineation of power and responsibility to improve our effectiveness and that measures adopted are fully-implemented," Tung pointed out.

"We must adopt a new style of governance, feel the pulse of thecommunity, take community sentiments fully into account, and enable different sectors of the community to participate extensively in the policy-making process, so that Government policies will reflect properly the concerns and expectations of the people," the chief executive noted.

Tung stressed that the new team of the government would conducta wide consultation to ensure that it has a broad spectrum of views as a basis for formulating policies and adopting measures toturn the undertakings into reality.

Tung Calls on People to Carry Forward Hong Kong Spirit

Tung called on the people to carry forward the Hong Kong spirit in times of difficulty and pledged that the SAR government will offer every assistance to the public.

Tung noted that it is the force of the Hong Kong spirit that made Hong Kong people turn adversity into opportunity at each turning point in the past.

"The Hong Kong spirit is displayed through the will of Hong Kong people to face up to difficulties, to rise up to challenges, to excel, to adapt, to persevere and never to give up," he said, adding that many such stories demonstrate that the Hong Kong spirit is alive and well.

Tung said that Hong Kong is facing unprecedented difficulties --a huge challenge.

"In the last five years, we have gone through many adjustments and difficulties. And we have established a foundation for Hong Kong's renewed prosperity," he said.

He also outlined Hong Kong's advantages of a free market, a favorite venue for multinational companies, efficient transportation and communications, and science and technology advancement.

"The path ahead is one of hope, though laden with many challenges," Tung said. "The advancement of the country urges us on. The successful implementation of 'one country, two systems' and the unfailing support of the central government encourage us."

"We have to overcome the difficulties before us. We must persevere to promote Hong Kong's economic development and to make 'one country, two systems' a momentous and lasting success," he said.

Tung said that the Hong Kong SAR government is concerned about unemployment and pledged to offer education and training programs to help those in need.

"In the process of coping with these difficulties, you and I have strengthened our bond. We also share a common destiny. All these will eventually strengthen our solidarity, as well as the relationship between the government and the people," he said.

The SAR government needs to apply new thinking, adopt a new style of administration, and bring new hope to the people, he added.

Tung Urges Closer Cooperation Between Hong Kong, Mainland

Tung urged various measures to strengthen cooperation between Hong Kong and the mainland in order to promote the local economic restructuring and improve employment opportunities for Hong Kong people.

To help accelerate Hong Kong's economic restructuring and create job opportunities, the government will pursue earnestly ourdiscussion with the Central Government to establish a 'Closer Economic Partnership Arrangement', with a view to maximizing the opportunities and market potential arising from the rapid economicdevelopment of the Mainland, he said.

In parallel, Tung said, "we will quicken our cooperation with the Guangdong Province across the board."

Hong Kong will fully utilize all existing channels between the Hong Kong SAR government and the Guangdong Provincial government to facilitate the flow of human resources, capital and goods, so as to enhance economic and commercial exchanges between both places, he added.

According to Tung, in the first five months of this year, Hong Kong received a total of 2.46 million visitors from the mainland, representing an increase of 47 percent on last year's arrivals forthe same period.

"We will adopt even more flexible measures to complement the policy of the Central Government to relax arrangements for mainland residents to visit Hong Kong," Tung noted.

Tourism aside, private enterprises are flourishing in the mainland. It is a particularly welcome development that 55 privateenterprises have decided to be listed in the Hong Kong Exchange this year, he said.

"We will adopt a full range of pro-active measures to encourageand attract companies including mainland enterprises to be listed in Hong Kong, to push for further development of the Hong Kong capital market, and to strengthen Hong Kong's position as an international financial center," Tung stressed.

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