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Following is the full text of the 2011-12 Policy Address - From Strength to Strength - by the Chief Executive, Mr Donald Tsang, in the Legislative Council today (October 12):
Mr President,
A. Introduction
1. In my 2007 manifesto, I envisioned generating economic development through infrastructural development. At the same time, we must balance development needs with environmental protection and conservation to create a better living environment. Hong Kong people supported my election platform. Soon after my re-election, I pushed ahead with 10 major infrastructure projects to usher in a new stage of economic development for Hong Kong.
2. To sustain economic growth, we must seize opportunities and rise to challenges. During my term, I have had to deal with two major issues. The first was to leverage the National 11th and 12th Five-Year Plans to develop Hong Kong into the global financial centre of our country and to facilitate entry to the Mainland market for our industrial, commercial and professional sectors.
3. The second was to respond to the global financial tsunami in 2008. I appealed to the people to stand united in meeting the challenges facing our economy. While stabilising the financial system, supporting enterprises and preserving employment, we also seized the opportunity to diversify our economy by promoting the development of six industries where Hong Kong enjoys clear advantages.
4. Our economy started to recover in the second quarter of 2009 and has since remained strong. We achieved growth of 7% last year and expect the economy to grow by 5-6% this year. Economic development is not an end but a means to enable our people to share the fruits of prosperity, improve living conditions and build a stable home.
5. The wealth gap, housing and the ageing population are the issues of greatest public concern. I have put in place a statutory minimum wage to offer income protection to grassroot people. I have devoted great efforts to promote social enterprises. I have also implemented support measures for families and elderly people in need. In regard to housing, the financial tsunami has led to surging asset values and soaring property prices. People have become frustrated because it is more difficult for them to own a home. I am striving to tackle the problem by increasing land supply, combating property speculation and adjusting our subsidised housing policy. I will talk about the new features of our housing policy in a while.
6. On constitutional development, I pledged to set a timetable for attaining universal suffrage. In 2007, the Standing Committee of the National People's Congress (NPCSC), after deliberating on the report I submitted, decided that Hong Kong may implement universal suffrage to elect the Chief Executive in 2017 and, after universal suffrage for the Chief Executive election is implemented, all members of the Legislative Council in 2020. I subsequently put forward a constitutional reform package to enhance the democratic elements in the 2012 elections. The package was endorsed by this Council in June last year, signifying a critical step forward on our road to universal suffrage.
(To be continued)
Ends/Wednesday, October 12, 2011
Issued at HKT 11:12
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