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Following is the transcript (English portion) of a stand-up session given by the Financial Secretary, Mr Antony Leung, at the lobby of West Wing, Central Government Offices today (August 14):

Reporter : EIU downgraded Hong Kong's business environment position . How would you respond to that and do you think it would undermine Hong Kong as a financial and business hub?

Financial Secretary : I think the EIU has been unduly pessimistic. However, I think one point that they have raised is worth considering and that is, the mismatch of the talents that are being required in a knowledge economy versus the talents that we have today. That explains why the Chief Executive has placed so much emphasis on education reform in the last four years. That also explains why we have changed our immigration policy to attract more talents to Hong Kong. Knowledge decides the future of Hong Kong as well as the future of every individual. We have to ensure that all our citizens, students and adults would pursue life-long learning, would be able to communicate well in both English as well as in Chinese, would be able to think independently, critically and creatively as well as having commitment to one's society as well as the nation. All of these, I think, would answer the worry of the EIU. So in short, in order to compete successfully in the knowledge economy, we must pursue education reform vigorously as well as import more talents into Hong Kong.

(Please also refer to the Chinese transcript)

End/Tuesday, August 14, 2001

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