Sun, July 01, 2012
China > HK/Taiwan > More Splendid Hong Kong

President Hu says Hong Kong should enhance competitiveness

2012-07-01 02:31:46 GMT2012-07-01 10:31:46(Beijing Time)  Xinhua English

Chinese President Hu Jintao delivers a speech at the swearing-in ceremony of the fourth-term government of the Hong Kong Special Administrative Region (HKSAR) in Hong Kong, south China, July 1, 2012. (Xinhua/Xie Huanchi)

HONG KONG, July 1 (Xinhua) -- Chinese President Hu Jintao said Sunday Hong Kong should enhance its competitiveness amid increasingly intense regional and international competition.

Hu said Hong Kong has registered steady economic growth and remained an international financial, trade and shipping center despite the impact of the international financial crisis.

"It has all along been considered as the most free and open economy and one of the most competitive and dynamic regions of the world," Hu said.

But Hong Kong must work hard to increase its competitiveness if it is to win in the increasingly intense regional and international competition, Hu said in a speech at the inaugural ceremony of the fourth-term government of the Hong Kong Special Administrative Region and Chief Executive Leung Chun-ying.

To this end, Hong Kong must have better strategic planning for its long-term development and bring into better play the role of the government in promoting economic and social development, update its development concepts, encourage and support various innovation programs, enhance the services sector and foster new economic growth points.

Hu also called on the government and general public of Hong Kong to have a thorough understanding of the profound changes in the global economic landscape, make full use of its extensive international reach and its advantages in other areas and grasp critical opportunities for development.

At the same time, it is all the more important for Hong Kong to take advantage of the vigorous economic development on the mainland to expand and deepen its exchanges and cooperation with the mainland in order to achieve mutually complementary, win-win and common development, Hu noted.

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