HK to attract more Mainland tourists

Special Report:Global Financial Crisis

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.

Tsang said that Hong Kong would, in collaboration with the Guangdong and Macao governments, seek to extend the coverage of the pilot liberalization measures of the Individual Visit Scheme from Shenzhen to the rest of Guangdong Province.

From the launch of the Individual Visit Scheme in July 2003 up till the end of last year, over 35 million Mainlanders had visited Hong Kong under the scheme, serving as an important stimulus for the city's various consumer industries, said Tsang.

Besides, the government will develop new tourism products and step up promotion in high-growth source markets, including Japanese seniors, the young Taiwanese and Indian families.

"We are actively discussing with The Walt Disney Company the expansion of Hong Kong Disneyland and any capital realignment of the joint-venture company involved," Tsang expressed hope that agreement would soon be reached to make Hong Kong Disneyland more attractive as well as serve the overall interests of Hong Kong.

The government will step up the promotion of Hong Kong as an Asian wine and gourmet center through the "World of Food and Wine" Festival which will be held in this October.

Tsang said that the city had signed co-operation agreements with a number of winegrowing trading partners which would reinforce Hong Kong's status as a regional hub for wine distribution and trading.

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