The Hon Ng Wing Ka, Jimmy, JP
Amidst a highly volatile global economy, Hong Kong transformed its industrial structure twice by drawing on its own unique advantages. Since the handover, Hong Kong's third industrial structure transformation has been thriving, though it is yet to reach fruition. Under the 'One Country Two Systems' framework, the key to a successful third industrial structure transformation for Hong Kong lies in how to effectively uphold the city's political, economic and social stability, and how to improve its business environment.
Looking ahead, our country's 'One Belt One Road' strategy is of epochal significance, as it offers a historic opportunity for Hong Kong. Hong Kong's industries should ride the trends and utilise their strengths to make greater contribution to the city, so as to maintain and enhance Hong Kong's global competitiveness.
As the external economy is yet to recover and traditional export markets are shrinking, enterprises in various industries are facing significant challenges in the process of transformation and upgrading. For instance, factors such as heavy tax charges have led to increased operating costs, which are difficult for small and medium-sized enterprises (SMEs) to shoulder. Meanwhile, Hong Kong enterprises in the Pearl River Delta region operating in an extremely strenuous business environment, and they are in serious need of relief measures from the government. I understand the difficulties that enterprises are facing, and I can relate to how you are feeling. I believe that the government has the responsibility to offer greater support to the industries. What's commendable is that our industries as well as SMEs keep striving in the face of adversity, while we carve new paths with resilience and flexible business strategies.
Manufacturing industry has once been a major pillar of Hong Kong's economic development, and nowadays it contributes to 1% to 2% of the city's GDP. 'Re-industralisation' presents tremendous opportunities for stimulating long-term economic growth. As the CMA's representative in the Legislative Council, I will devote my efforts to relaying industry opinions to the government. Apart from increased focus on industrial policy, I urge the government to give definition to 'new industries' and to assist the industries in transformation and upgrading. For instance, I will call on the government to offer incentives that encourage high value-added and highly automated industries to return and open their factories in Hong Kong. In the meantime, I hope there will be arrangements for every researcher of innovation and technology and technical student to partake in industrial work placements or field trips to manufacturing enterprises, which will instil new ideas into industrial development.
As for important topics of key concern to the industries, such as standard working hours, revitalisation of industrial buildings and the offsetting of MPF, I will make every effort to fulfil my duty in rallying for the highest common factor between the interest of the industries and social value. I also hope that all of you will continue to offer your valuable opinions and support to me, so that we can work and thrive together for the development of Hong Kong's industries!
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