A New Direction for Hong Kong
 
Policy Address

Government, Enterprises and Individuals

12.       To realise "Progressive Development" the Government, enterprises and individuals all have different roles to play. I adhere to the principle of "Big Market, Small Government", and to containing public expenditure below 20% of Gross Domestic Product (GDP) as far as possible. However, I object to a dichotomy between the roles played by the Government and the market, whether it be a strong belief in the omnipotence of government intervention or a passionate support of the free market being sacrosanct. Both are sweeping generalisations. In striving for economic growth, complex and unique relationships exist among different sectors of our economy. We should take a practical look at the respective responsibilities of the Government, enterprises and individuals.

13.       In my view, the Government's role is mainly to formulate policies conducive to sustainable development so that every citizen has the opportunity to share the fruits of prosperity and progress. The Government needs to balance the political, economic and social demands of different interest groups in the community, and to make progress while maintaining stability. It should take the lead at the policy-making level in certain areas such as promoting economic integration with the Mainland, taking forward cross-boundary infrastructure projects and making joint efforts to develop a world-class metropolis.

14.       As for enterprises in today's society, they should no longer just perform a pure economic role -they should also shoulder social responsibility. The Government can achieve social goals through consultation with our enterprises. Regulation by legislative means should be a last resort. I will mobilise our enterprises to actively participate in wage protection, environmental protection, heritage conservation and building a caring society.

15.       At the individual level, I will promote the family as the mainstream social core value through various policies to help our people adapt to the social changes brought about by globalisation. The Government will invest more on each member of our community. Every one of us should seize these opportunities and fully equip ourselves. Our people should move with the times, actively embrace the new economy and meet the demands of the changing world in a way that befits the new Hongkongers.