• Thu
  • Jul 24, 2014
  • Updated: 12:37pm

What Donald Tsang said, why it matters and what you say

PUBLISHED : Thursday, 15 October, 2009, 12:00am
UPDATED : Thursday, 15 October, 2009, 12:00am

ECONOMY: From logistics to lease modification premiums, the chief executive devoted more than a third of his speech to the economy. 'We have to revisit the government's role in promoting economic development,' he said

TRADE AND LOGISTICS

Sites to be made available in Kwai Tsing to help the logistics sector move up the value chain.

EDUCATION

Sites in Ho Man Tin and Wong Chuk Hang to be provided for private university campuses catering to 4,000 students.

MEDICAL SERVICES

Sites to be reserved on Lantau and at Wong Chuk Hang, Tseung Kwan O and Tai Po for building private hospitals.

Setting of standards for common traditional Chinese medicines to be speeded up.

TESTING AND CERTIFICATION

A three-year plan for developing the industry will be drawn up.

INNOVATION AND TECHNOLOGY

A HK$200 million 'R&D Cash Rebate Scheme' will be launched to support business investment in research and development.

CULTURAL AND CREATIVE INDUSTRIES

Support will be offered for a distribution network to help digital cinema develop.

COMPETITION

The government intends to present a draft Competition Law to Legco before its current session ends in July.

FINANCIAL SERVICES

Consultations to be launched this year on the setting up of an investor education council and a mechanism for resolving financial disputes.

Measures to develop Hong Kong as a global financial centre, asset management centre and offshore centre for renminbi-denominated business to continue with the aim of attracting capital and talent from within and outside the country.

CO-OPERATION WITH GUANGDONG

The functions of the Hong Kong Economic and Trade Office in Guangdong will be strengthened and more staff hired; a dedicated unit for liaison with Shenzhen will be set up.

ENHANCING EXCHANGES WITH TAIWAN

A council to foster exchanges in a range of fields will be set up. Consideration will be given to opening an office in Taiwan when appropriate.

Economic co-operation to be fostered; talks on avoiding double taxation to start.

Cross-strait renminbi clearing arrangements will be fostered.

Hong Kong travel agents will get help to win a share of mainland tourism to Taiwan.

DEVELOPMENT

Owners of redevelopment sites will be allowed to pay additional land premiums according to actual development density on a 'pay for what you build' basis.

Owners of old industrial buildings who redevelop them will be allowed to pay by instalment premiums for modifying their leases.

Owners who opt for wholesale conversion of a building instead of redeveloping it will get a waiver of fees for changing land use.

Lands Department to have dedicated staff to handle applications for redeveloping or converting industrial buildings.

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