China / HK Macao Taiwan

HK govt vows to enhance city's competitiveness

(Xinhua) Updated: 2014-06-04 17:15

HONG KONG -- The government is committed to enhancing Hong Kong's competitiveness, and will continue to explore new markets, support the development of pillar industries, and seek to diversify the economy, HK's Secretary for Commerce and Economic Development Gregory So says.

So said the city's pillar industries of trading and logistics, financial services, tourism, and business and professional services have been driving forces of Hong Kong's economic development, adding that there is still room for growth as they move up the value chain.

He said the government will also continue to invest in education to nurture talent and promote social mobility, while examining population policy to address the impact of the aging population on the labor market in the long run.

The government is also committed to upholding the principles of fairness and neutrality regarding taxation, he added, as Hong Kong's simple tax regime and low tax rates are among the essential factors underpinning the city's success.

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