Supporting the Development of Professional Services

75. The service sector accounts for over 80% of our Gross Domestic Product and professional services are a value-added component. At present, no sector can escape the challenges brought by economic restructuring. And we are doing what we can to promote the development of professional services not only in Hong Kong, but to open up markets in other places.

76. For example, the Government has assisted the legal profession in arranging visits to Beijing for local professional bodies in a bid to extend the market for their services. The Secretary for Justice has also proposed developing litigation and arbitration business in Hong Kong to enable Mainland enterprises to negotiate and sign contracts with foreign enterprises here. If necessary, they could approach our courts and arbitration bodies to settle contractual disputes. Not only will Mainland and foreign investors benefit, but new opportunities will be opened up for our legal profession. This will enhance Hong Kong's role as an international financial and services centre. After much discussion, the proposal has received a positive initial response from the relevant Central Government authorities.

77. Locally, the Architectural Services Department and the Housing Department will minimise the use of standard design to enable greater participation of architects from the private sector and to encourage creativity. Departments concerned will also review the current tendering and approval procedures for Government projects and services. The aim is to create more opportunities for local professionals and to retain the relevant expertise and experience in Hong Kong, while upholding the principles of equality and fairness, and adhering to the rules of the WTO and safeguarding public interests.

78. To support the comprehensive development of professional services, I have asked the Business and Services Promotion Unit under the Commerce and Industry Bureau to co-ordinate the efforts of relevant departments so that they can offer active support in this regard. We will also set aside $100 million to establish a fund to support, on an equal matching basis, useful projects that can enhance the standard of professional services in Hong Kong. We will continue with an in-depth study on the demand for continuous learning in Hong Kong's professional sector and their needs in respect of their various practices. We will join hands with the professions in promoting their services to open up new markets in the Mainland and overseas.