Tung Chee Hwa, chief executive of the Hong Kong Special Administrative Region (SAR), on Saturday expressed his confidence about the SAR's sustainable economic growth in 2000 and promised that the government will work hard to reduce the unemployment rate.

In a radio phone-in program, Tung said Hong Kong's economy has been recovering very well with a 4.5 percent growth registered in the third quarter of 1999, and the fourth quarter looking also promising.

He pointed out that Hong Kong is experiencing another economic transformation as the result of the economic globalization as well as the changes brought about by high technology, especially information technology.

The development of other cities in terms of infrastructure and human resources has also put Hong Kong under challenges and pressures, he added.

Tung said he is pleased that Hong Kong retains its advantages in finance, tourism, shipping and air transportation after the Asian financial crisis, and many transnational corporations still base their regional headquarters in Hong Kong.

Hong Kong will benefit from China's entry in the World Trade Organization, he believed, adding that the Hong Kong-Walt Disney deal to establish a theme park and the innovative technology will surely help boost tourism and the economic transformation of Hong Kong.

"We have taken control of the general situation, although the economy is undergoing the transformation. I'm very optimistic about the future," Tung said.

In regard to the 230,000 unemployed people in Hong Kong, Tung said the government has the responsibility to offer them education and training courses to help them find new jobs.

Most importantly, he said, the government must create a favorable business environment to help the economic recovery, thus increasing employment rate. (Xinhua)