The priority is to speed up infrastructural development, maintenance and improvement works to boost economy and create more job opportunities.

The second measure is to increase investment in education, environmental protection, cityscape and public health to create more jobs for lower-skilled workers, and strive to improve the environment and quality of life of Hong Kong, Tung said.

While upholding the principle of fiscal prudence, the government will refrain from raising public fees and charges that have direct impact on livelihood so as to avoid adding to the burden of people and to encourage domestic spending.

The government will actively promote tourism to attract more overseas visitors to Hong Kong in expectation that their consumption here will provide impetus for the labor-intensive businesses such as retailing and catering sectors.

Tung urged Hong Kong people to make concerted efforts to take the challenge arising from the global economic restructuring, whose impact he said might last for a few years.

He pointed out that, in the past, Hong Kong has undergone several cycles of economic restructuring and every time rose to the challenges and emerged with more rapid economic growth upon successful restructuring.

He stressed that Hong Kong, compared with many other economies, is privileged to have the strong backup of the Chinese mainland.

Tung is confident that Hong Kong people would capitalize on the advantages to consolidate Hong Kong's position as a center of financial services, tourism, information technology, innovation and technology, logistic services and international trade.

(People's Daily 06/15/2001)