Mr President, Honourable Members and fellow
1. The current-term Government upholds the vision of
“Developing the Economy and Improving People’s Livelihood”.
We believe that only through economic development can we
improve people’s livelihood and promote social harmony and
2. The Heritage Foundation of the United States has rated
Hong Kong as the world’s freest economy for 22 consecutive
years. According to the Human Freedom Index 2016 published
by the Cato Institute of the United States, Hong Kong has topped
the ranking for six consecutive years. The index measures the
state of freedom in 159 jurisdictions based on 79 indicators
covering such areas as the rule of law, freedom of movement,
civil liberties and economic freedom.
3. Over the past four years, Hong Kong’s economy has seen
moderate growth and receding inflation. The Government
maintains a sound fiscal position. The working population
increased in total by 160 000 while the unemployment rate
remained at a very low level. Apart from reinforcing the
competitive edges of traditional industries, the Government also
strives to promote the development of emerging industries.
4. Land and housing supply for the short and medium
terms has increased significantly while medium and long-term
planning is actively pursued. Many infrastructure projects are