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HK Financial Secretary Meets Advisors to Discuss Economy
Antony Leung, financial secretary of Hong Kong, met the Economic Advisory Committee members Saturday to listen to their views on the latest outlook for the Hong Kong economy in the light of recent developments, particularly those in the United States, and possible measures for aiding the Hong Kong economy.
The members generally noted that the Hong Kong economy, given its externally oriented nature, would be affected by the latest development in the U.S. economy, noting that the impact on the U.S. economy hinged on how severely and for how long U.S. consumer sentiment and business confidence would be depressed after the terrorist attack.
They also shared the view that the situation was still fluid and should be monitored closely.
The members, however, pointed out that the economic development of the Chinese mainland was doing very well. The imminent accession to the World Trade Organization would provide further impetus to business opportunities. They encouraged the government to continue its efforts in facilitating an enhanced integration with the Chinese mainland economy.
They also expressed their views on possible government measures to tackle issues arising from the slowdown in external economies in the short term, and economic restructuring in the longer term.
"The meeting was very useful as the government could benefit from the professional and learned views of Members," Leung said after the meeting. "We would take into account their views seriously when finalizing the Policy Address."
The Economic Advisory Committee is chaired by the Financial Secretary, and composed of 15 non-official members and four official members. The non-official members are drawn from the business, financial and academic sectors.
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