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Donald Tsang
Turning Crises into Opportunities

“I will soon establish and chair a task force to continually monitor and assess the impact of the financial tsunami on local and global markets, and provide timely evaluation of its impact on the local economy … More importantly, the task force will propose specific options for the Government and business community to address the challenges. This will help us overcome the crisis and turn it into new business opportunities.”

Establishing a Task Force

  • Chief Executive to establish and chair a task force to assess the impact of the financial tsunami on Hong Kong’s economy, and propose specific options to address the challenges

Reinforcing Our Position as a Financial Centre

  • Optimise banking and insurance supervision, regulation of the securities industry, and control of the Mandatory Provident Fund

Development of the Securities Market

  • Attract more new enterprises, including large corporations from emerging markets, to list in Hong Kong

Economic and Trade Development
Regional Integration

  • Step up co-operation with Guangdong, with a focus on service industries; conduct a comprehensive planning study on the use of the Lok Ma Chau Loop

Development of Scientific Research

  • Reinforce Hong Kong’s intermediary role in technological co-operation between the Mainland and the rest of the world
Creative Industries

Creative Industries

  • Set up a dedicated Creative Industry Office to co-ordinate the work of different departments

Business and Commerce Development

  • Examine feasibility of a Phase 3 expansion of the Hong Kong Convention and Exhibition Centre

Wine Trade

  • Revitalise Haw Par Mansion by designating it for commercial uses, including wine-related businesses

Optimising Human Capital

  • Look into the development of e-books and promote the use of these new learning resources
Care for the People

“We need to take a forward-looking approach in promoting social development. This includes upholding the family as the core social value of this modern Chinese society and introducing sustainable measures to meet the challenges posed by an ageing population.”

Protecting People's Interests

Protecting People's Interests

  • Introduce laws that will allow authorities to promptly ban the import and sale, and order the recall of, problem food when necessary to better ensure food safety
  • Step up publicity and education on the standardised definition of “saleable area” for uncompleted residential properties to better protect flat buyers
  • Expand Consumer Council services that provide the public with a clearer picture of retail prices
  • Study the issues of traffic congestion and different toll levels at the three harbour crossings with a view to identifying a long-term solution
  • Introduce the Competition Bill during the current legislative session to promote a business environment conducive to free competition
  • Ask oil companies to enhance pricing transparency; consider tightening fuel prices monitoring through the petrol station tendering process

Care for the Disadvantaged

  • Legislate for a minimum wage and establish a Minimum Wage Commission to study the level of minimum wage
  • Promote core family values
  • Enhance short-term food assistance services and step up publicity for needy individuals who have not benefited from the relief measures over the past year
  • Consider increasing the Old Age Allowance rate to $1,000, as well as introducing a means test, and relaxing the permissible limit of absence
  • Promote core family values and encourage the business community to adopt family-friendly work practices
  • Launch a home-based child care service to help needy families take better care of
    their children
  • Combat domestic violence and juvenile drug abuse; enhance rehabilitation services

Healthcare Reform

  • Launch the second stage of public consultation on healthcare reform in the first half of 2009 to work out the long-term healthcare financing arrangements
  • Encourage and facilitate the development of private hospitals, and identify suitable sites, initially including Wong Chuk Hang, Tseung Kwan O, Tai Po and North Lantau areas, for this purpose
  • Build a new hospital in Tin Shui Wai to strengthen medical services for residents
  • Provide free pneumococcal conjugate vaccine for children
  • Enhance prevention and care support for chronic disease patients
Last revision date: October 15, 2008