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| Directions for Development |
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| Market Leads, Government Facilitates |
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7. A free market economy is the bedrock of Hong Kong's success. I firmly believe that our guiding principle in fostering economic development should be
"market leads and government facilitates". Having come from the business sector, I am keenly aware that the essential ingredients for the success of an enterprise are flexibility, a quick response and the ability to see where the market is heading. The Government's principal role is to create the best possible environment for business and to facilitate the market's operation and promote its development. This role includes -
- Maintaining a robust institutional framework, underpinned by individual freedoms, the rule of law, a clean and highly efficient government, a safe and stable society and a good working and living environment.
- Providing a business-friendly environment, by maintaining free trade and the free flow of information, promoting fair competition, enhancing the quality of the market and upgrading human resources.
- Maintaining a healthy fiscal and monetary
regime, with prudent management of public finances, maintenance of a freely-convertible and stable currency and a sound regulatory system.
- Safeguarding and promoting Hong Kong's commercial and trade
interests, namely, securing more favourable market access for our enterprises through bilateral and multilateral economic and trade negotiations.
- Providing the essential services and facilities that the market cannot
provide, including major networks of infrastructure and provision of basic necessities for the disadvantaged to live with dignity.
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| 8. We will continue to give free rein to market forces. We will ensure clarity, predictability and consistency in our policies to enable investors to make informed business decisions for the long term. |
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