2003 Policy Address
Human Resources Development
chief executive

20. Our people are our most valuable resource and the key to the development of a knowledge-based economy. One crucial means of promoting economic restructuring is by investing in education. Only by developing our own local human resources and providing opportunities for continuing education for people of all walks of life can we prepare ourselves for the changes in the marketplace. This is of utmost importance to the well-being of our people and the long-term development of Hong Kong. Let me reiterate, we will continue with the education reforms that are now starting to bear fruit. We will optimise the use of educational resources, improve the quality of education, encourage life-long learning and enhance manpower training. I can assure you that investment in education will remain our priority, notwithstanding the need to address our budgetary problems.

21. Apart from nurturing local talent, we will continue to attract talented people from around the world. We must not lag behind in the intense global competition for highly skilled people. We will formulate policies to proactively attract them to live and work in Hong Kong. Our existing policy is to attract talent from overseas. We will make reference to this policy to facilitate Mainland talent and professionals to work and live in Hong Kong. In addition, we intend to attract entrepreneurs from the Mainland to come to invest in Hong Kong. We hope that this flow of people and capital will encourage Mainland/Hong Kong co-operation in the development of high value-added and high technology activities. It will also promote cross-boundary professional services, thereby accelerating Hong Kong's transition to a knowledge-based economy and create more employment.

22. We have decided to encourage more overseas investors to settle in Hong Kong and will formulate relevant immigration policies as soon as possible. I believe that such a policy will benefit our economy, in particular our financial and real estate sectors. Domestic consumption, among other things, will also receive a welcome boost.

23. In the long run, we need to upgrade the quality of our people. This is essential if we are to meet the challenges of the knowledge-based economy and we will implement policies to this end. The Chief Secretary for Administration has submitted to me the report on population policy, which covers many policy areas. The report will be published after consideration by the Executive Council.

24. Our young people are our hope for the future. The Government has all along attached great importance to their education and holistic development. In a recent draft report, the Chairman of the Commission on Youth put forward recommendations on providing diversified training and enhancement of the employability of our young people. The final report will be released as soon as possible.