The Government's Role in Economic Restructuring

29. I have highlighted some specific areas in which we have a unique edge. I want to point out that our direction is clear: using our existing solid foundations, we must move up the value-added ladder. With community consensus, we can spur economic growth by making the best use of our competitive edge and encouraging creativity.

30. Together, the Government and the people must face the dual challenges of economic restructuring coupled with the cyclical economic downturn. Recently, Members of this Council, various organisations and community groups, have suggested a wide range of responses to our economic problems. My colleagues and I have seriously considered each one of them.

31. Taking into account community views, in tandem with our economic philosophy, the Government needs to carry out many tasks during this current period of economic hardship. Bearing this in mind, as well as our positioning for the future, we have five priority tasks. First, we must expand our investment in education. Second, we should enhance soft and hard infrastructure and improve the business environment. Third, we should enhance the quality of our living environment. Fourth, we should help relieve the hardships of the socially disadvantaged. And fifth, we should carry out the necessary structural adjustments and reforms within the Government to improve the quality of our administration. Accomplishing all of these tasks is needed to maintain Hong Kong's long-term prosperity and stability, as well as serve the fundamental interests of the community.

32. I will now speak about some of these tasks.