Leung Urges to Foster Economic Flows Between Hong Kong, Mainland

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Last updated at: (Beijing Time) Wednesday, March 06, 2002

Leung Urges to Foster Economic Flows Between Hong Kong, Mainland

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As a regional financial and commercial center, Hong Kong must maintain a smooth flow in both directions of economic activity with its neighboring areas, in particular the Chinese mainland, Hong Kong Financial Secretary Antony Leung said Wednesday.

Leung made the remarks when delivering his maiden budget report in the Legislative Council.

"Our interaction with other economies generally does proceed smoothly. With the Mainland, however, the flows, in particular those of people, goods, capital, information and services, still need improvement. This is the third challenge we face," Leung said.

As regards the flow of people, Leung said the quota system for the Hong Kong Group Tour Scheme was abolished on January 1 this year, following discussions between the government of the Hong Kong Special Administrative Region and the Central People's Government.

According to Leung, there are now 67 mainland travel agencies organizing tours to Hong Kong, as against four in the past. The Central People's Government has also simplified the procedures for mainland visitors to come to Hong Kong on business.

In the field of information, Hong Kong is the telecommunications and broadcasting center for the region. "We have readily-available information on economic developments in the mainland. We need to reinforce our advantage in the field of information through upgrading both hardware and software," he said.

As for services, Leung said the Hong Kong government will continue to promote closer connections between these industries in both places.

Leung stressed the government should have a clear vision of the direction of economic development and be a proactive market enabler. The government should also provide a "safety net" for the community, he added.

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