Budget Speech

Promoting the Development of Industries

59.      In his Policy Address, the Chief Executive pointed out the need to promote the development of innovation and knowledge-based industries. These include the four traditional pillar industries, namely financial services, tourism, trading and logistics, and professional services, and six industries where we enjoy clear advantages. The six industries are medical services, education services, environmental industries, testing and certification, innovation and technology, and cultural and creative industries.

60.      In 2008, the private enterprises of these six industries made a direct contribution of eight per cent to the GDP and employed about 380 000 people, representing about 11 per cent of the total workforce. The role of the Government is to provide a conducive environment for the development of these industries under the principle of "Market Leads, Government Facilitates". We will provide the necessary support in land resources, human capital and incentives to facilitate the diversification of industries under the market mechanism. The Government has started to roll out the initiatives put forth in the Policy Address, and I will provide the necessary financial support.

Content | Next Page