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Following is the speech by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, at the Centennial College High Table Dinner 2016 this evening (March 11):
Professor K F Cheng (Vice President of the Centennial College, Professor Cheng Kin-fai), Mr Tsang (President of the Legislative Council, Mr Jasper Tsang), distinguished guests, students, ladies and gentlemen,
It gives me great pleasure to join this year's Centennial College High Table Dinner and share my thoughts with our aspiring young students on the theme of "The Building Blocks for Career Success".
Let me begin by thanking Centennial College for organising this annual flagship event. As a prestigious dining tradition originating from leading British universities such as Oxford and Cambridge centuries ago, a High Table Dinner is a social, educational and inspiring experience for students. It offers a rare opportunity for them to know the ropes of social and dining etiquette and, at the same time, interact with and learn from distinguished guests, teaching staff and fellow students in a formal setting.
I am honoured to be invited to give the first keynote speech tonight. Before I discuss what leads to career success, let me first talk about what constitutes personal success and happiness.
As the saying goes, "success is not the key to happiness. (But, instead) happiness is the key to success." If you are passionate about life, if you love what you are doing and if you work hard to pursue your goal, chances are you will become successful sooner or later.
In fact, the issue of leading a happy, enriching and fulfilling life is at the heart of liberal arts education which forms the core strength of Centennial College. By developing students' intellectual ability, equipping them with comprehensive knowledge, and sharpening their analytical skills, liberal arts education prepares students for the demands and challenges of a fast-changing world. More importantly, liberal arts education inspires us to take a broader perspective on life, to be flexible and adaptable, to live a positive and happy life and, above all, to become a better person and contribute to the improvement of humanity as best we can.
These qualities form an integral part of a fulfilling and happy life, and a solid basis for long-term career development. They also resonate well with my recipe for success. By success, I mean success in the workplace, in school, in family and as a person. While industry knowledge may differ, the ingredients that lead to a promising and satisfying life can be applied across different contexts.
These essential qualities for success can be described using the letters ABCDE.
"A" refers to an analytical mind for understanding and solving problems, the right and positive attitude to deal with people and work, and the adaptability to face changes during good and bad times.
"B" refers to the bravery to step out of one's comfort zone, to embrace challenges and not to shy away from difficulties. It also means the ability of being bilingual and bi-cultural in East-meets-West, cosmopolitan Hong Kong.
"C" stands for confidence, commitment, conviction and communication. Without confidence, one cannot survive adversities. Without commitment and conviction, one cannot persevere and soldier on.
"D" means diligence, dedication and determination; and finally
"E" stands for energy and enthusiasm.
Together, these essential ingredients constitute the recipe for personal achievements.
Young people are our hope and leaders of tomorrow. You are Hong Kong's future and our future is in your hands.
To nurture our youths, the Hong Kong SAR Government is committed to building an environment whereby young people, irrespective of their interests, strengths, gender, ethnicity, family and socio-economic background, can thrive and realise their potential to the full.
We attach great importance to the whole-person development of our young people because human capital is Hong Kong's single most valuable asset and therefore every youth counts. Expenditure on education for 2016-17 is estimated to reach $75 billion, accounting for a significant 21.5 per cent of recurrent government expenditure, representing the lion's share of all policy areas, and up by 70 per cent over the figure 10 years ago. These speak volumes about the Government's dedication to investing in the education of our next generation.
Moreover, Hong Kong is facing the double challenge of an ageing population and a dwindling workforce. This means young people will come to play an increasingly prominent role in all aspects of our society's development.
The population of people aged 65 or above in Hong Kong now stands at 1.12 million, meaning one out of seven Hong Kong residents is a senior citizen. These figures will rise to a high of 2.52 million in 2044 and 2.58 million in 2064, translating into a ratio of one in three.
On the other hand, our total labour force (excluding foreign domestic helpers who add up to 341 000 now) is projected to peak at 3.65 million in 2018 and will then taper off to 3.43 million in 2031 and then dip further to a low of 3.11 million in 2064. Alarmingly, the labour force will shrink by half a million in 50 years.
This reminds us that for Hong Kong to remain a competitive and vibrant international economy as well as a global business and financial hub, we must properly nurture, carefully groom and fully equip our youths and give them ample room to develop their potential. We cannot afford to, and must not, leave anyone behind.
The Washington-based Heritage Foundation has recently announced that Hong Kong remains, for the 22nd consecutive year, the freest economy in the world. The Government will continue to uphold the free market principles by providing a favourable business environment, ensuring free trade and fair competition, maintaining a simple and low tax regime, and keeping an efficient public sector.
We will step up investing in our physical and social infrastructure to maintain Hong Kong's long-term competitiveness and meet the needs of a fast-ageing society.
As a result, there are and will be immense potential and abundant opportunities for career development in some fields which our young people may not be fully aware of. Incidentally, these sectors can also be summed up by the abbreviation "ABC". "A" stands for aviation and airport, "B" for building services and "C" for care, including health, community and elderly care.
Let me first focus on "A". Hong Kong's airport island at Chek Lap Kok currently provides direct employment for 65 000 people. If the proposed three-runway system takes off within the next decade, the number of direct jobs at Chek Lap Kok would more than double to some 140 000.
On "B" (building services), with many of our infrastructural projects in progress and gathering momentum in the years ahead, coupled with our ambitious housing programme, both public and private, there are and will be plenty of job opportunities in the building sector. Indeed, Hong Kong is entering a golden era of building boom with bright employment prospects. The overall (public and private) construction expenditure of Hong Kong over the next 10 years is expected to stay at a high level of HK$200 billion per year.
Turning to "C" (care). An ageing population will lead to huge demands for health care, community, institutional and home services for the elderly. For the financially better off elderly, there will be a growing silver-hair market with substantial demand for leisure, pleasure, investment and insurance services, etc.
Apart from "ABC", our traditional economic pillars including business and financial services, tourism and logistics will need fresh blood all the time. With the Mainland becoming a world-class economic powerhouse and the nation's ambitious Belt and Road Initiative, Hong Kong is well placed to play the role of a "super-connector" and more job and career opportunities will flow.
While job opportunities abound, success never comes easily and there is simply no short cut to paradise. To seize these opportunities and to succeed, our young people must fully equip themselves, be prepared to embrace challenges, keep an open mind and a strong sense of modesty and, last but not least, engage in continuing education and life-long learning in order to move up the career and social ladders.
However, in the course of chasing one's dream and in striving for success, let us remember that there are bound to be ups and downs in life. You will win some and lose some. As we all know, life is full of uncertainties and punctuated with good times and bad times. In times of adversity, one should not despair and give up. One should see a temporary setback as a respite and a tactical retreat to reposition and re-equip oneself. I say all this because I am deeply saddened and gravely concerned by the spate of student suicides in recent months. There is nothing more important and precious than life. And there are always more solutions than problems.
On this rather serious note, let me wish all of you a delightful and inspiring High Table Dinner. I am sure that you will find the upcoming speech by the President of the Legislative Council, Mr Jasper Tsang, far more interesting. Thank you.
Ends/Friday, March 11, 2016
Issued at HKT 20:20
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