HK chief executive calls for vigilance amid opportunities

APD

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Hong Kong Chief Executive Leung Chun-ying on Wednesday morning delivers his policy address entitled"Uphold the Rule of Law, Seize the Opportunities, Make the Right Choices"for the year of 2015.

It is Leung's third policy address since he was sworn in on July 1, 2012.

Leung said that Hong Kong should stay alert in face of opportunities on economic and constitutional development.

While delivering his third policy address since he was sworn in on July 1, 2012, Lueng underlined the rule of law and emphasized to seize opportunities, make the right choices to pursue democracy, boost economy and improve people's livelihood.

On constitutional development, Leung said that by adhering strictly to the Basic Law and the Decision of the Standing Committee of the National People' Congress (NPCSC) on Issues Relating to the Selection of the Chief Executive of the Hong Kong Special Administrative Region by Universal Suffrage and the Method for Forming the Legislative Council of the Hong Kong Special Administrative Region in the Year 2016, for the first time in Hong Kong's history, five million eligible voters will be able to select the chief executive by universal suffrage in 2017. "This is a big step forward for Hong Kong's democratic development."

The chief executive stressed that Hong Kong people have to be wary of suggestions that deviate from the Basic Law. Hong Kong's autonomy under "One Country, Two Systems" is a high degree of autonomy, not an absolute autonomy. It is a high degree of autonomy specifically provided for in the Basic Law, not one based on any arbitrary interpretation.

The principles of "One Country, Two Systems", "Hong Kong people administering Hong Kong" and a high degree of autonomy is a unique and unprecedented system, Leung said, adding that there is neither overseas precedent nor "international standard" of the kind. For Hong Kong to select its chief executive by universal suffrage, the Basic Law and the relevant Interpretation and Decisions of the NPCSC must be complied with.

"We fully recognize the aspirations of our young students for democracy and their concerns about constitutional development. They should be guided towards a full understanding of the constitutional relationship between our country and Hong Kong so that the discussion on constitutional development would not be fruitless."

"The rule of law is the foundation of Hong Kong. The democratic development of Hong Kong must therefore be underpinned by the same. As we pursue democracy, we should act in accordance with the law, or Hong Kong will degenerate into anarchy," Leung said.

As for economy, Leung said, as part of China, Hong Kong benefits from the rapid development of and enjoy preferential treatments from the motherland, and from having a system that is different from other mainland cities.

He pointed out that taking the continuous economic development and full employment in recent years for granted, some people, however, have underestimated the importance of economic growth. This calls for vigilance as people's livelihood depends on the economy, and fostering economic development is vital to improving people's livelihood.

Seek further market liberalization in mainland

Leung said that the government will continue to seek further market liberalization in the mainland, aiming to reach basic liberalization of trade in services between the entire mainland and Hong Kong within 2015.

The service sector accounts for more than 90 percent of our Gross Domestic Product (GDP) and is a very important component of the economy, Leung said when delivering his third policy address.

In December 2014, the Hong Kong government and the Ministry of Commerce signed the Agreement between the mainland and Hong Kong on Achieving Basic Liberalization of Trade in Services in Guangdong, ushering in the basic liberalization of trade in services between Guangdong and Hong Kong.

"We will continue our earnest efforts to seek further market liberalization in the mainland with a view to achieving basic liberalization of trade in services between the entire mainland and Hong Kong by the end of this year," Leung said.

He also said the Hong Kong government has submitted its proposals for the National 13th Five-Year Plan to the central government.

The central government announced last December that, in addition to the Shanghai Pilot Free Trade Zone (FTZ), three more pilot FTZs will be established on March 1, 2015.

Leung said the Guangdong Pilot FTZ, covering new areas of Nansha, Qianhai and Hengqin, can leverage Hong Kong's edge to promote in-depth co-operation between Guangdong and Hong Kong. Qianhai is adjacent to Hong Kong and Nansha is the largest of the three areas.

"The room for business and development for people and enterprises of Hong Kong will be vastly expanded," the Chief Executive said. The government will maintain close collaboration with the Guangdong provincial government throughout the planning and development of the three new areas to actively pursue new modes of cooperation, the most favourable treatment and the biggest development opportunity for Hong Kong people and enterprises, he added.

Possesse qualities to become int'l maritime services hub

Leung said that Hong Kong has what it takes to become an important international maritime services hub for China and the Asia-Pacific region.

While delivering his policy address at the Legislative Council, Leung said the total gross tonnage of vessels on the Hong Kong Shipping Register is the fourth-largest in the world. "With the continuous expansion of our country's maritime and shipbuilding industries, our maritime services sector has enormous potential for growth."

Leung said Hong Kong is well positioned to serve as a springboard for mainland maritime companies looking to "go global, " as well as a platform for international maritime companies to tap the mainland market.

He said the government will continue to take forward the establishment of a new maritime body to promote Hong Kong's maritime services industry. Meanwhile, the government will enhance the functions of the Hong Kong Maritime Industry Council to step up its efforts to foster the development of the industry and nurture talent, especially in high-end professional maritime services.

In the coming year, the government will launch promotional events overseas and in the mainland to attract more high value- added maritime services companies to cluster in Hong Kong, he said.

The chief executive also mentioned that driven by economic growth, the aviation industry in the mainland has seen rapid development in recent years. To grasp this market opportunity, the government is studying the development of Hong Kong's aerospace financing business so as to strengthen Hong Kong's status as an international aviation and financial center.

Set up Youth Development Fund

The Hong Kong Special Administrative Region government will set up a 300-million-HK dollars (38.7 million U.S. dollars) Youth Development Fund to support innovative youth development activities, Leung said.

He said the fund will support youth development activities which are not covered by existing schemes, including subsidy in the form of matching funds for non-governmental organizations (NGOs) to assist young people in starting their own business.

The move was part of the government's broader efforts to create more job opportunities for young people.

Leung said the government also plans to provide a subsidy for students to join at least one the Chinese mainland exchange program each at the primary and secondary stages.

"We will explore with Mainland provinces and cities to expand and enhance such exchange and cooperation. Young people can broaden their horizons through two-way visits, life experience activities, cultural and service collaboration as well as job- seeking experience sharing," Leung said.

Meanwhile, four youth hostel projects are being progressively implemented.

"The government will seek funding approval as soon as possible to take forward the two projects at Sheung Wan and Tai Po, while advance preparation works are being carried out for two projects at Mong Kok and Jordan," he said, adding that the government will actively assist other interested NGOs with the early launch of more new projects.