61. The business community has raised with me the need for continuous improvements to our business environment, primarily through streamlining regulatory regimes and simplifying licensing procedures. The Subgroup on Business Facilitation, under the Economic and Employment Council, is now studying ways to remove outdated or unnecessary regulations. As the construction/real estate and retail sectors have a significant bearing on our job market, the Council has initially identified these two sectors for regulatory review. The review in relation to the construction/real estate sector will explore ways to simplify lease conditions for land grants, improve the lease modification mechanism, streamline town planning processes, rationalise the regulatory regime and shorten planning cycles for development projects. The review in relation to the retail industry will focus on catering, supermarkets, convenience stores, cosmetics and pharmaceutical trades. The Council will also conduct regulatory reviews on the Places of Public Entertainment Licences (including the licensing system for cinemas). Relevant government departments will support these reviews by studying improvement measures for implementation this year.