Hong Kong Chief Executive Donald Tsang speaks to the press yesterday after his annual policy address. AFP

Legislators, academics and professionals generally welcomed the policy address and its notion to embrace new challenges, but they also asked the government for more details about the initiatives.

Democratic Alliance for the Betterment and Progress of Hong Kong Chairman Tam Yiu-chung felt that Chief Executive Donald Tsang responded to public appeals and concerns, especially regarding the minimum wage legislation.

He also said he hopes a task force chaired by Tsang will strengthen preparation for the rising unemployment that will result from the global financial turmoil, as this was not mentioned in the policy address.

Lawmaker Regina Ip from the Savantas Policy Committee said Tsang committed to tackling the pressing financial problems.

In addition, she particularly welcomed the government's dedication to develop the Lok Ma Chau Loop and creative industry.

"It's a step that should have been done ages ago," she said.

Yet she noted that Tsang did not address more structural problems, such as the widening of the wealth gap and turning the city into a knowledge-based economy.

Meanwhile, Federation of Hong Kong Industries Chairman Clement Chen admired the policy address, which he said would be able to stabilize the fluctuating economy and minimize the shock brought by the financial chaos.

The Association of Chartered Certified Accountants (ACCA) also agreed with Tsang's notion to reinforce Hong Kong's position as a financial center, as well as optimizing the supervision and regulation of the banking, insurance and securities industries.

"But we hope the government steps up efforts to introduce more macroscopic preventive measures before the economy worsens," ACCA said.

Hongkongers queue up for a pamphlet of Chief Executive Donald Tsang's policy address in Wan Chai yesterday. CNS

Tsang's move to establish closer links with regions in the vicinity were also hailed.

"We welcome the new initiatives to facilitate the flow of people between Hong Kong, Macao, Taiwan and Russia, as well as the emphasis placed on strengthening economic integration between Hong Kong and other regions on the mainland," the Hong Kong General Chamber of Commerce (HKGCC) said.

In addition to the pollution problems being tackled with the mainland authority, the HKGCC also appreciated the development of the Pearl River Delta (PRD) region into a green and quality living area.

"This will strengthen the competitiveness of Hong Kong and the entire PRD," it added.

However, it wished there were proposals in the policy address to help the small and medium-sized enterprises.

"They are hurting from the credit crunch, and the current economic environment is precisely the time when the government should be looking to assist small businesses," HKGCC Chairman Andrew Brandler said.

Ivan Choy Chi-keung, a lecturer at the Department of Government and Public Administration at the Chinese University of Hong Kong, said the policy address responded to concerning issues such as minimum wage, the old age allowance and the financial crisis.

(HK Edition 10/16/2008 page1)