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Following is the transcript (English portion) of a stand-up session by the Financial Secretary, Mr Henry Tang, after the first meeting of the Economic and Employment Council this (February 23) afternoon:
Reporter : Do you think the deflation will reverse ? Can you summarise what came out of today's meeting ?
Financial Secretary : As far as the CPI Index just released today (is concerned), I think we can take a fairly cautious but optimistic view (that Hong Kong would be) climbing out of deflation in around a twelve-month period because if we look at the figures since August last year, we have seen a steady improvement in our CPI figures. I think with an improving economy, it is quite probable that we will be back into a positive territory in around a twelve-month period. Today we just had our first meeting of the Economic and Employment Council, I feel that it has been a very constructive and useful discussion. Many of the members have given us very useful views and it is all done in a very harmonious and constructive atmosphere. All the members feel that they wish to participate and do their bits and I welcome many of their views that have been expressed. I look forward to this congenial and constructive atmosphere to continue.
Reporter : Any specific measures to create more job opportunities?
Financial Secretary : I would like to look at employment from a longer term, and from a structural as far as opportunity aspect. We have a workforce which is very quickly being challenged by a knowledge economy. Now as far as a knowledge economy's requirements are concerned, everybody knows it very well that we need to do a number of things to meet those challenges. One of them is obviously education. The other one is training and re-training. The third one is continuing education. The forth one is to facilitate investment and to reward those who work for it, so that the private sector and the market will create more job opportunities. We also see this as an opportunity where we can identify and will look at what aspects of our economy are able to create jobs for those who may not be able to meet the challenges of a knowledge economy. But they are a very important part of our society, and therefore we need to look at those very carefully. We have set up a business facilitating sub-committee to look at how we can simplify or do away with some of these permits and procedures so that we will facilitate business to create more job opportunities.
(Please also refer to the Chinese portion of the transcript.)
Ends/Monday, February 23, 2004
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