D. Helping the Economy to
71. We have
a steadfast commitment to promoting economic development.
Following a strong rebound last year, Hong Kong’s
economy continues to show very strong growth, with increases
in both external trade and domestic demand. Outstanding
external trade, coupled with a huge surplus in our recurrent
account, underlines Hong Kong’s immense competitiveness
as the conduit for trade between China and the world.
Increased domestic demand reflects the confidence of
local consumers and investors. Employment has reached
a new peak, with an increase of nearly 200 000 new jobs
in the past two years. Although there will be various
risks in global economic development in the coming year,
the recovery of our economy on all fronts has proved
once again that our abilities to adapt and adjust enable
us to overcome any difficulty.
72. Hong Kong is a
highly externally oriented economy. Our strategy is
to “leverage the Mainland and engage ourselves
globally”; to strengthen our advantages; to encourage
entrepreneurship and fair competition under the principle
of “Big Market, Small Government”; and to
consolidate our position as Asia’s world city
and our role as a key international financial, trading,
transportation and information hub of China. This strategy
has delivered significant results and has allowed us
to bring into full play our comparative advantages.
the economy power ahead at full steam means that we
must augment our efforts in all areas where Hong Kong
has a comparative advantage. We will strive to consolidate
the existing pillar industries. At the same time, we
will closely follow changes in the market and respond
promptly to the demands of the business sector in new
growth areas. We will actively help open up new business
opportunities by providing the necessary policy support,
regulatory control and infrastructure.