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Budget Brings HK Forward Into New Century: Tung
Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa Wednesday praised Financial Secretary Donald Tsang's budget as one complying with the government's long standing prudent financial principles and said the budget will help sustain Hong Kong's economic growth.
Tsang's budget is one which builds on the foundation of Hong Kong's economic recovery and which brings the region forward into the new century, Tung told the media after the financial secretary delivered his budget Wednesday.
Tung noted that Hong Kong has recovered very well from the Asian financial crisis. The economic growth for the year 2000 is 10.5 percent, one of the best in Asia, and the growth is expected to continue at 4 percent for the year of 2001.
Furthermore, international investors have continued to demonstrate confidence in Hong Kong. Aside from the Chinese mainland, investments by international companies in Hong Kong exceed those in other Asian economies, Tung said.
Tsang's budget builds on the strength of Hong Kong as an international financial, services and trading center, and "also sets out clearly the strategy for Hong Kong to take advantage of the mainland's accession to the World Trade Organization," Tung said.
Tung noted the 10th Five-Year Plan presented by Chinese Premier Zhu Rongji to the National People's Congress has "set a blueprint for national development." Tsang's budget also "complements the national development strategy," he said.
The budget also allocates adequate resources to meet the community's needs in the areas of education, medicine and health, welfare, housing and other public services, Tung noted, adding that he is confident that the budget will win wide community support
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