'Wide support' for plan to develop six economic pillars
The government's decision to develop six knowledge-based industries and its pledge to provide land to enable their development have won the backing of a majority of Hong Kong people who responded to surveys conducted by the administration's top think tank.
Lau Siu-kai, head of the Central Policy Unit, warned that Hong Kong could lose its economic vitality and be marginalised amid the nation's rapid economic growth if the city stuck to the principle of 'market fundamentalism'.
He said the polls conducted recently by the unit found that nearly 70 per cent of respondents supported the government's decision to earmark land to boost the development of six new economic 'pillars' that will help the city's economy diversify.
The survey findings also showed the majority of respondents backed the administration's decision to develop the six new industries: education, medical services, environmental industries, innovation and technology, cultural and creative industries, and food safety and product testing.
'More than half the respondents agreed that the government should play a more active role in facilitating the city's economic development,' Professor Lau told the South China Morning Post.
Chief Executive Donald Tsang Yam-kuen said two weeks ago that the government would adopt 'new thinking' to tackle the land-shortage problem to enable the development of the six new economic 'pillars'. It will reserve two sites in urban areas for private universities and four sites for private hospitals.
The government will also explore the feasibility of providing financial and policy incentives to encourage private investment in research and development.
Professor Lau said there were fewer people in Hong Kong who questioned a bigger government role in economic development, particularly after the global financial meltdown.
'If we insist on a pure market economy, it's difficult to upgrade the structure of Hong Kong's economy, and the city would be marginalised amid the country's rapid economic development,' he said.
The administration's top adviser said the main dissatisfaction of many Hong Kong people with the government was its failure to provide stimulus and momentum for sustained economic development.
'The pace of economic growth in recent years was rather slow. Many Hong Kong people are worried that the city is losing its economic vitality,' Professor Lau said.
He said the Hong Kong government had a duty to help the city's industries capitalise on market opportunities in the Pearl River Delta.
