20. Our people are our most valuable
resource and the key to the development of a knowledge-based
economy. One crucial means of promoting economic restructuring
is by investing in education. Only by developing our
own local human resources and providing opportunities
for continuing education for people of all walks of
life can we prepare ourselves for the changes in the
marketplace. This is of utmost importance to the well-being
of our people and the long-term development of Hong
Kong. Let me reiterate, we will continue with the education
reforms that are now starting to bear fruit. We will
optimise the use of educational resources, improve the
quality of education, encourage life-long learning and
enhance manpower training. I can assure you that investment
in education will remain our priority, notwithstanding
the need to address our budgetary problems.
21. Apart from nurturing local talent, we will continue
to attract talented people from around the world. We
must not lag behind in the intense global competition
for highly skilled people. We will formulate policies
to proactively attract them to live and work in Hong
Kong. Our existing policy is to attract talent from
overseas. We will make reference to this policy to facilitate
Mainland talent and professionals to work and live in
Hong Kong. In addition, we intend to attract entrepreneurs
from the Mainland to come to invest in Hong Kong. We
hope that this flow of people and capital will encourage
Mainland/Hong Kong co-operation in the development of
high value-added and high technology activities. It
will also promote cross-boundary professional services,
thereby accelerating Hong Kong's transition to a knowledge-based
economy and create more employment.
22. We have decided to encourage more overseas investors
to settle in Hong Kong and will formulate relevant immigration
policies as soon as possible. I believe that such a
policy will benefit our economy, in particular our financial
and real estate sectors. Domestic consumption, among
other things, will also receive a welcome boost.
23. In the long run, we need to upgrade the quality
of our people. This is essential if we are to meet the
challenges of the knowledge-based economy and we will
implement policies to this end. The Chief Secretary
for Administration has submitted to me the report on
population policy, which covers many policy areas. The
report will be published after consideration by the
Executive Council.
24. Our young people are our hope for the future. The
Government has all along attached great importance to
their education and holistic development. In a recent
draft report, the Chairman of the Commission on Youth
put forward recommendations on providing diversified
training and enhancement of the employability of our
young people. The final report will be released as soon
as possible.
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