Policy Address

B.        Economic Development, Our Priority

Knowledge-based Economy

9.         As a mature and open capitalist market economy, Hong Kong must constantly enhance its competitiveness and continue to evolve into a high value-added, knowledge-based economy to maintain its leading edge over global competitors and create more quality jobs. Innovation and knowledge-based industries include not only the six recommended by the TFEC but also the four traditional pillar industries, namely financial services, tourism, trading and logistics, and professional services. The four pillar industries are well developed, accounting for 60% of our GDP. In order to sustain their development, we must try every means to enhance the flow of people, goods, capital and information that are related to the four pillar industries.

Traditional Pillar Industries

Financial Services

10.         The financial services industry is the most important pillar supporting our economy. As a prime global financial centre in the Asian time zone, Hong Kong enjoys many advantages, including a highly open and internationalised market, a regulatory regime aligned with major overseas markets, the rule of law, and the free flow of information and capital.

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