82. Hong Kong has for some time transformed itself from a manufacturing-based economy to a services-oriented one. In the long term, the trend towards globalisation will grow. Advances in information technology will bring about profound changes in different facets of community life. Contracting out or relocation of low technology and low knowledge content production processes will become even more common. More economic resources will converge on high value-added areas. To maintain and enhance our living standards, Hong Kong must move towards higher value-added outputs. Only by increasing the knowledge content of our economy and continuing to innovate can we maintain our advantages and sustain development.