Special Report:Global Financial Crisis
HONG KONG, Feb. 25 (Chinese media) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said here Wednesday morning that the SAR government supported the full implementation of the "Three Direct Links" across the Taiwan Straits.
Tsang made the remarks when delivering the budget speech for the fiscal year 2009-2010 at the Legislative Council here Wednesday morning.
"Although the implementation may weaken certain intermediary roles of Hong Kong in the short term, I believe that in the medium and long term this will further liberalize the trade flows between the (Chinese) mainland, Taiwan, Hong Kong and Macao," Tsang said.
Tsang said Hong Kong would maintain its strategic position and reap greater economic benefits from the "Three Direct Links". He added an inter-departmental steering committee to study and co-ordinate overall strategy and action plans on closer economic and trade ties with Taiwan.
The Taipei Office of the Hong Kong Trade Development Council, which commenced operation in late 2008, would step up efforts to promote trade and service industries in Taiwan, Tsang said.
"Moreover, we are encouraging the industrial and business sectors and Taiwan businessmen in Hong Kong to set up a Hong Kong-Taiwan Business Co-operation Committee to provide opportunities for direct exchanges between enterprises from both places and to foster closer co-operation in areas such as trade, investment and tourism," he said.
Hong Kong financial secretary presents 2009-2010 budget
HONG KONG, Feb. 25 (Chinese media) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang began outlining the budget for the fiscal year 2009-2010 at the Legislative Council here Wednesday morning.
Delivering his second budget speech at the Legislative Council, Tsang said the global financial environment has changed dramatically last year, referring to what he called a "once-in-a-century financial turmoil." Full story
HKSAR gov't continues managing public finances prudently
HONG KONG, Feb. 25 (Chinese media) -- Hong Kong's top financial official said here Wednesday that he would continue managing public finances prudently by keeping expenditure within the limits of revenues, and maintaining a low and simple tax regime.
John Tsang, financial secretary of the Hong Kong Special Administrative Region, said he had stated his principles of management of public finances in the 2008-2009 Budget, including managing public finances prudently by keeping expenditure within the limits of revenues, maintaining a low and simple tax regime, and following the direction of "Market Leads, Government Facilitates". Full story
HK to spend 300 bln HKD to create job opportunities
HONG KONG, Feb. 25 (Chinese media) -- Hong Kong would spend more than 300 billion HK dollars (about 38.46 billion U.S. dollars) to ease pressure of economic contraction, boost domestic demand and increase employment opportunities, said Hong Kong's top financial official here Wednesday.
"We will also introduce some targeted measures to provide various types of jobs and internship opportunities," said John Tsang, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, when delivering his second budget speech to the Legislative Council. Full story
HK gov't to create jobs, support employment
HONG KONG, Feb. 25 (Chinese media) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said here Wednesday that the budget for the fiscal year 2009-2010 was guided by principles including job creation.
Delivering his second budget speech as financial secretary at the Legislative Council here Wednesday morning, Tsang said that since his first Budget made in 2008, the global financial environment had changed dramatically. Therefore, in preparing this year's Budget, he had been guided by three principles. Full story
HK to provide additional funding to provide more jobs
HONG KONG, Feb. 25 (Chinese media) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said on Wednesday the government would provide additional funding to provide various types of jobs.
Delivering the budget for the fiscal year 2009-2010 at the Legislative Council, Tsang said he would provide an additional 1.1 billion HK dollars non-recurrent funding to provide various types of jobs. Full story
HK to foster cooperation with Guangdong, Macao
HONG KONG, Feb. 25 (Chinese media) -- Hong Kong's top financial official said here Wednesday that Hong Kong would foster its cooperation with neighboring Guangdong Province and the Macao Special Administrative Region.
"My confidence in Hong Kong's future is buttressed by our advantage in having the Mainland as our hinterland," said John Tsang, financial secretary of the Hong Kong Special Administrative Region, when delivering the 2009-2010-budget speech at the Legislative Council. Full story
HK to attract more Mainland tourists
HONG KONG, Feb. 25 (Chinese media) -- Financial secretary of Hong Kong John Tsang Wednesday proposed a string of measures to boost the city's tourism, including attracting more Mainland tourists through Individual Visit Scheme.
"In face of the current economic difficulties and competition from other regions, we should take proactive action to facilitate the continuous development of tourism," said Tsang while delivering his budget speech at the Legislative Council on Wednesday. Full story
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