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2008-09 Policy Address by Chief Executive (5)
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Economic and Trade Development

Regional Integration

Co-operation with Guangdong

35.  Co-operation with Guangdong over the past year has been fruitful thanks to the efforts of both Governments.  The Governments of Guangdong, Hong Kong and Macao have reached a consensus on funding the Hong Kong-Zhuhai-Macao Bridge.  This has allowed us to advance the start of construction to no later than 2010.  The recently-signed Supplement V to the Mainland and Hong Kong Closer Economic Partnership Arrangement will usher in a new phase of co-operation under a package of service liberalisation and facilitation measures for early and pilot implementation in Guangdong.

36.  We should step up efforts to pragmatically take forward priority joint ventures in the short to medium term.  We have to focus on: promoting co-operation in service industries; actively working with Guangdong to optimise and upgrade its industrial structure while assisting Hong Kong enterprises to respond to Mainland policy adjustments; and, actively facilitating cross-boundary environmental protection to create a green and quality living area in the PRD Region.  We also need to strengthen co-ordination in the planning and implementation of cross-boundary infrastructure projects.

Development of the Lok Ma Chau Loop

37.  The Lok Ma Chau Loop has huge potential for long-term development.  The planning authorities of Hong Kong and Shenzhen consulted the public on the future development of the Loop this year.  Among proposed land uses, higher education, the research and development of new high technology, and cultural and creative industries received wide support on both sides.  We will assess these proposals in greater depth and consult stakeholders on the feasibility of various proposals.  We intend to decide on the land uses of the Loop and conduct a comprehensive planning study in the coming few months.

Exchanges with Taiwan

38.  To enable Hong Kong to complement enhanced cross-strait relations, the HKSAR Government is strengthening exchanges and co-operation with Taiwan.  The Hong Kong Trade Development Council (TDC) will set up an office in Taipei.  The preparatory work is now at the final stage.

39.  We are also encouraging Hong Kong industrial and business leaders, as well as Taiwanese businessmen in Hong Kong, to form a Hong Kong-Taiwan Business Co-operation Committee.  The Committee will facilitate direct communication between enterprises from both places and foster closer co-operation in areas such as trade, investment and tourism.

40.  The Immigration Department will introduce two new measures in January 2009 to provide greater convenience for frequent business visitors and tourists from Taiwan:

(1)  Remove the restriction that limits a person to two iPermit applications within each 30-day period; and

(2)  Extend the limit of stay in Hong Kong from 14 days to 30 days for holders of iPermits and multiple-entry permits.  

41.  I have appointed the Financial Secretary to head an inter-departmental steering committee.  It has been examining and co-ordinating the overall strategy and action plan on closer economic and trade ties with Taiwan.  

Development of Scientific Research

42.  We will continue to promote Hong Kong's technological development through financial and infrastructural support.  We will also reinforce our intermediary role to promote technological co-operation between the Mainland and the rest of the world.  In May this year, thanks to joint efforts with Shenzhen, DuPont decided to establish the Global Thin Film Photovoltaic Business/R&D Centre in the Hong Kong Science Park, and to set up production facilities in Shenzhen.  We will continue to work with the Shenzhen authorities to maximise the benefits of the Shenzhen-Hong Kong Innovation Circle.

43.  To nurture local talent, we introduced an Internship Programme under the Innovation and Technology Fund (ITF).  It aims to attract promising science and engineering graduates to take part in ITF-funded research and development (R&D) projects to better equip them for a future career in industrial and commercial R&D.  We have recently enhanced the programme by increasing the amount of the subsidy and expanding the pool of new recruits to cover graduates of higher degrees as well as non-local graduates of local universities.  We will extend the programme to our R&D centres to provide more opportunities to develop our human capital.

(To be continued)

Ends/Wednesday, October 15, 2008
Issued at HKT 11:36

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