Bolstering Economic Confidence is Key
It is a delight to see that the new Budget has adopted a number of recommendations by CGCC to address these issues, including the removal of the “harsh measures” for the property market, the expansion of the scope of government bonds, and concrete measures in other areas such as to rebuild business confidence.
As long as our people put aside all their prejudices and shift their focus back to economic development and improvement of people’s livelihood to make more practical efforts for Hong Kong’s long-term economic and social development, Hong Kong will still have a promising future.
Hong Kong must get itself ready, be proactive in enhancing its competence in financial and professional services, seize the opportunities made available by the interconnectivity amongst the markets of the three places, further consolidate Hong Kong’s position as a financial center.
Hong Kong can perform its functions as an international financial centre and the largest offshore RMB business hub to provide comprehensive financial support for Sino-British economic and trade cooperation.
Direct participation may not be possible, businesses can draw on Hong Kong’s strengths as an international financial center to provide a wide range of investment and financing services for the infrastructure projects along the “One Belt and One Road”.
As the retirement protection system has a far-reaching impact on the overall development of Hong Kong’s society, the authorities must examine the affordability of the society, and strike a balance between improving the social security system and promoting sustainable economic development.
The labour policies should take into account business operations and sustainable overall economic development while protecting the legitimate rights and interests of employees.
As China deepens its development in all directions and actively constructs external connectivity, enormous business opportunities will be generated for Hong Kong, we must seize this rare opportunity.
We hope that the society will cherish our hard-won prosperity and stability and work together to bring our focus back onto economic development and improving people’s livelihood to regain Hong Kong’s positive energy and Lion Rock Spirit in order to open up more space for Hong Kong and our next generation’s development.
The Chamber will fully cooperate with the HKSAR Government and look forward to the active cooperation of different sectors so that the various policy measures can be put in place as soon as possible, working together to drive Hong Kong’s economy forward.
China’s “13th-Five-year” Plan will fully drive the economic structure towards upgrading and transforming into the service industry direction. The strategic development of “One Belt and One Road” will also further generate momentum to the vast demand for trade in services in the region.
