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Following is the full text of the speech (English only) delivered by the Financial Secretary, Mr Donald Tsang, at the Prize Presentation Ceremony of the Hong Kong Millennium Lighting Competition today (Thursday):

Victor (Lo), distingushed guests, Ladies and Gentlemen,

It gives me great pleasure to be here today to present prizes to the best millennium lighting designs in town.

In the past few weeks as I went past the waterfront, I had been immensely thrilled to see the spectacular neon light decorations on both sides of the harbour, much more attractive and abundant in design and coverage than last year. They have added a colourful glitter to the festivities in Hong Kong as we welcome the new millennium. They have given us a sense of joy, hope and confidence.

More important, these marvellous decorations symbolise the vitality and creativity of the people masterminding their production, the very same people who have driven our economic growth in the past and who - I am sure - will continue to do so in the new millennium.

Over the past few years, our economy has undergone the most severe test in recent history. It witnessed a sharp contraction and income has declined.

But there is a blessing in disguise. The crisis has prompted a timely restructuring of our economy, pulling us back from an over reliance on property and cutting down on the cost of conducting business. We have emerged from the crisis not only in reasonably good shape, but healthier than before.

On this happy occasion, may I put on record our special thanks to you, Victor, and the rest of the organising team, the sponsors as well as the supporting organisations. Your hard work and efforts have made this event a great success. And, of course, my personal congratulations to the winners tonight. Thanks for brightening up our future and our city.

Thank you.

End/Thursday, January 6, 2000

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