Opportunity knocks

Ayra Wang

Now is the opportunity for Hong Kong to develop, Chief Executive John Lee Ka-chiu says as he gathers opinions for his upcoming third policy address in October.

Lee spoke yesterday at a district forum at Tai Po Government Primary School, joined by about 120 residents.

Financial Secretary Paul Chan Mo-po, Chief Secretary for Administration Eric Chan Kwok-ki and Secretary for Culture, Sports and Tourism Kevin Yeung Yun-hung were among 20 senior officials who took part at the forum.

Lee said the city's investment environment has become difficult amid global headwinds, but its outlook remains positive, with good prospects for long-term development.

"The financial sector dares not make any bold moves now, faced with global uncertainties rising from the US election, interest rates, and regional conflicts and wars," he said.

Lee said Hong Kong is undergoing a "transitional period," with the government predicting a 2.5 to 3.5 percent economic growth this year while expecting a better economy in 2025.

Lee said he remains positive about the city's long-term development.

He quoted Victor Li Tzar-kuoi - tycoon Li Ka-shing's eldest son and chairman of CK Hutchison - as saying: "Anyone who believes Hong Kong will lose in the long run will first lose the game."

Some businessmen at the forum told Lee they have been encountering difficulties borrowing money since local banks have tightened policies due to the high interest rates.

Others said the costs of joining trade exhibitions are exorbitant and suggested the government increase relevant subsidies.

Lee said the government has discussed enterprise financing problems with banks and will step up its support to small and medium-sized businesses to help them overcome other adversities during the transition.

He said a "giant panda economy" could be possible - alluding to a new pair of pandas gifted by the central government and the recent birth of two cubs at Ocean Park - but it will depend on the tourism sector's plan.

A resident named Chou suggested creating a tourism mascot to promote the city while another, Cheung, said Hong Kong should assign volunteers to help travelers take photos at popular tourist spots.

Others suggested enhancing the training of local artistic talent and more cooperation with the mainland on cultural and creative projects.

"It will be important to combine culture, sports, all the elements that Hong Kong has - such as pandas - together with tourism and industrialize them," Lee said.

He also encouraged communities to leverage their districts' unique features to develop in-depth tourism while the government provides assistance in resources and supporting facilities.

Some at the forum also raised matters related to youth issues, education, health care, innovation and technology, housing, and transport.

A youth representative, Tang, praised the forum's smooth run and good atmosphere.

She hoped the government could embrace more youngsters in such activities and collect opinions through social media platforms.

The public consultation for Lee's policy address began last month, with the government saying it will organize more forums and district visits.

Hongkongers can share their views on the policy address website or send them to the government through social media, hotlines, e-mail, fax and post.

ayra.wang@singtaonewscorp.com