Budget Speech
Opening Up New Horizons Together
Promoting High-quality Development
45. The Report to the 20th National Congress of the Communist Party of China emphasises that the pursuit of high-quality development is first and foremost to build a modern socialist country in all respects. Likewise, as Hong Kong advances towards the new stage from stability to prosperity, we must also closely follow this theme. This is how we put making good use of Hong Kong's advantages to meet the needs of our country into practice. It is also the only way to attain better development for ourselves.
46. After the past several decades of development, Hong Kong has penned many success stories, but also faced development bottlenecks in some areas. We must push forward our economy towards high-quality development. We need to persistently drive development through innovation and technology; create new growth impetus through institutional enhancements and policy innovations; and progress towards green transformation by vigorously promoting the development of green and low-carbon technology and industries.
47. The pace of profound changes facing the world that is unseen in a century is accelerating, and global competition is getting more intense. We need to make better use of our unique advantages under "One Country, Two Systems" to fully grasp the Mainland's enormous market, bring together local and overseas talents, capital and other resources, and to attain mutual benefits that can be shared by everyone and bring about better development for everyone under the operation of an open economy.
48. The current-term Government will better integrate a "capable government" with an "efficient market". In areas where government leadership is needed, we dare to lead, take full responsibility and push forward at an accelerated pace; while for areas where the power of market forces is required, we will create a conducive environment and conditions for market forces to unleash their power. These will forcefully push forward high-quality development in Hong Kong.
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