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Following is the transcript of the media session by the Financial Secretary, Mr Antony Leung, on the report on economic freedom released by the Cato Institute and Fraser Institute late last (July 8) night. Mr Leung was speaking after attending the opening ceremony of the 2003 Business Fair for Guangdong-Hong Kong Economic, Technology and Trade Co-operation organised by the Guangdong Provincial Government at the Hong Kong Exhibition Centre this morning (July 9):
Financial Secretary: The Government is delighted to see the report by the Cato Institute and the Fraser Institute. We are pleased to see that our institutional strengths have once again been confirmed by these reputable organisations. The Government will strive to maintain our institutional strengths, including the rule of law, a level playing field, a small but efficient and corruption-free Government, the free-flow of information, a low-tax and simple tax regime.
The Government's policy has always been maintaining these institutional strengths, while upgrading the competitiveness of the Hong Kong economy and enlarging the opportunities for our private sector.
You will notice that in the last two weeks we have signed the Closer Economic Partnership Arrangement (CEPA) with the Mainland. This arrangement will enable the Hong Kong economy to restructure and to grow faster. I hope that foreign investors can see our institutional strengths and together with the opportunities offered by CEPA, they will come to Hong Kong to invest and to do business.
Reviving the economy is the Number One priority of the Government, but reviving the economy requires a stable social situation as well as the support of our citizens. We will continue and will strengthen our communication with the community. We look forward to working with various sectors of the community to revive the economy and to increase employment opportunities in Hong Kong.
(Please also refer to the Chinese portion of the transcript.)
End/Wednesday, July 9, 2003
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