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HK Chief Executive Exchanges Views with LegCo Members
Tung Chee Hwa, chief executive of the Hong Kong Special Administrative Region (SAR), exchanged views on a wide range of issues with Legislative Council members in Hong Kong on January 11.
Hong Kong's economic prospects in the coming year was a major issue of discussion. Other issues raised included the business environment and operation of small and medium enterprises (SMEs), the property market, the electoral arrangements for the Chief Executive, and the introduction of bills by LegCo members.
Tung said that he expected Hong Kong's economic growth to continue on a steady path with increased business opportunities flowing from China's accession to the World Trade Organization.
Referring to the sustained overseas interest in Hong Kong, Tung said that this was reflected by the continued inflow of capital and the increase in number of regional headquarters and offices set up by overseas companies in Hong Kong.
He noted that there were about 3,000 regional operations by overseas companies in 2000, representing over 20 percent increase over the number of such operations in 1999.
The chief executive also reaffirmed the importance of SMEs as a key driver of Hong Kong's economic growth. The government would spare no efforts in improving the business environment for businesses to flourish.
Turning to the property market, Tung said that the government wished to maintain stability, and to avoid a repetition of the unhealthy volatility prevalent in the market in recent times.
On the formation of the Election Committee, Tung reiterated that the electoral arrangements for the chief executive and the CE Election Bill would be fully consistent with the Basic Law.
As for the introduction of bills by LegCo members, he said that this would be dealt with in accordance with Article 74 of the Basic Law.
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