Budget Speech

Creative Economy

69.      Creativity is an important element for enhancing productivity and competitiveness. As a pluralistic international metropolis, Hong Kong offers fertile ground for the growth of creative industries. At present, Hong Kong has approximately 32000 creative industry-related establishments. They contribute over $60 billion annually to our GDP. The Chief Executive announced in his Policy Address the integration of existing government resources to set up a dedicated office to co-ordinate work on the development of a creative economy and give more effective support to this important sector. It is expected the office will be set up in the middle of this year. Currently, the Film Development Fund and the DesignSmart Initiative provide effective support to the film and design industries respectively. I will earmark $300 million for the development of other creative industries in the coming three years.

70.      We will promote the use of design and nurture more local talent to drive the development of the design industry, incorporate the elements of design and creativity into education, promote the development of the local film industry through the Film Development Council's efforts to expand markets for Hong Kong films in the Mainland and Southeast Asia, and provide financial support to further incubate more digital entertainment companies. We will also develop creative industries with strong local characteristics through the promotion of culture and art.

71.      We will continue to promote the accomplishments of our creative industries in the Mainland and overseas. Our participation in the World Expo to be held in Shanghai in 2010 will provide a particularly good opportunity to promote the updated Brand Hong Kong and demonstrate our quality of life and the characteristics of our innovative city. Hong Kong has also been selected to take part in the Urban Best Practices Area Exhibition, where we will showcase our success in the extensive use of smartcard technology in Hong Kong under the theme "Smart Card, Smart City, Smart Life".

72.      Through my invitation to a renowned local cartoonist to produce the comic "Tomorrow - Future for Today" to promote the Budget, and through the use of new modes of electronic media to invite public opinions, I have signalled the Government's commitment to make use of local creative industries as well as my commitment to greater public participation in the Budget process.