Welcome to my website.
We are now engaged in a new global economic order. On the one hand, economies of the whole world are being confronted by conflicts on three fronts, namely "currency", "trade" and "geopolitics". On the other hand, the world's economic balance is shifting to Asia. There are many challenges, but also ample opportunities for an open and small economy like Hong Kong. We need to be vigilant against possible downside risks while capitalising on our unique advantages in taking Hong Kong's economy to new heights
In the coming years, I shall focus on three areas:
First, on public finance, I shall, in accordance with the Basic Law, abide by the principle of keeping expenditure within the limits of revenues in drawing up our Budget, and strive to achieve fiscal balance. In response to the needs of the public, I shall dedicate our resources flexibly, where justified and needed, and invest in our society and economy in preparation for future changes.
Second, on economic development, I shall help foster economic integration with the Mainland while preserving the internationally competitive business environment in Hong Kong. I shall continue to lend support to traditional pillar industries by fostering new growth areas and exploring new markets. We shall also diversify our economic base and employment choices by supporting the development of new industries.
Third, on land supply, I shall continue with my coordination work in the implementation of the Chief Executive's overall plans to increase land and housing supply and create a land reserve, thereby maintaining the stable supply of residential properties. We shall also aim to provide adequate land resources for different industries in support of further development of economic activities.
To take forward initiatives in these areas consistent with the need of our community, I welcome your views. I shall continue to share with you my thoughts and ideas through my blog. Please drop me a line by means of email or any other channel.
John C TsangFinancial Secretary