LI, Tao @ Hong Kong

Premier urges city to create more jobs for its people

Premier Wen Jiabao has called on Hong Kong to concentrate on creating more jobs in small, innovative high-tech enterprises, to place greater emphasis on improving education and to do more to bridge the widening wealth gap in the city.

“Hong Kong needs to further develop its service sector including financial services and tourism, in the light of Hong Kong’s actual conditions,” Wen told a news conference Monday.

The premier stressed the complexity of issues facing Hong Kong, attaching special importance to addressing the city’s economic and social difficulties to improve the well-being of the people.

His prescription for achieving these aims was for the SAR to make the most of its opportunities and meet the challenges head on through the guidance of a long-term and scientific development plan.

Wen added that it is important for Hong Kong to pay closer attention to the development of education and science and technology, so as to sustain its momentum of future development.

“Hong Kong has sufficient government revenues and ample foreign exchange reserves. It needs to make the most of its favorable conditions to improve the social safety net and in particular take good care of vulnerable groups so that people in Hong Kong will lead a much better life,” Wen added.

He said the city’s traditional advantages still exist and its status as an international financial center remains unchanged.

“With the strong backing of the motherland and facing the world, Hong Kong has an open and free economy, a full-fledged legal system that is consistent with international practises, and a large pool of managers and personnel of various kinds.

“Hong Kong has experienced two financial crises, and has withstood both tests. So I believe Hong Kong’s traditional advantage as the international financial center has not changed,” Wen told a media conference after the conclusion of the annual parliamentary session.

The premier expressed confidence that the city’s traditional advantages remain strong since the nation’s Five-Year Program has also set out to support the city in developing itself into an offshore renminbi business center, and an international asset management center.

“Many of the pilot programs we have taken in the reform in the financial sector in recent years have also been first conducted in Hong Kong,” said Wen.

He spoke of the pilot program to settle cross-border trade with yuan in Hong Kong, the cooperation between Hong Kong and the mainland, especially the Pearl River Delta Region and joint infrastructure projects. These, he said, will “facilitate the freer flow of goods and personnel between the two sides” and these measures will “help consolidate and develop Hong Kong’s status as an international financial center”.

Wen said he also believes that Hong Kong has the ability to cope with both the regional and international competition and risks.

Wen said a separate chapter devoted to Hong Kong and Macao in the 12th Five-Year Program has shown the central government’s firm support for the long-term stability in the two special administrative regions, which not only meets demands of the SAR governments and the people, but also serves the interests of the long-term development of Hong Kong and Macao.

The central government will adhere to the principle of “One Country, Two Systems”, and act in strict accordance with the Basic Law to support Hong Kong’s development. The arrangements related to the city in the Five-Year Program will in no way replace Hong Kong’s own planning, said Wen.

China Daily

(HK Edition 03/15/2011 page1)

http://www.chinadaily.com.cn/hkedition/2011-03/15/content_12170885.htm