Hong Kong's various sectors have responded positively to the Policy Address delivered by Hong Kong Chief Executive Donald Tsang on Wednesday.

The Hong Kong General Chamber of Commerce agrees with the tasks laid out in the first Policy Address made by the chief executive, the chamber said in a press release.

The chamber is pleased to see in the Policy Address the recognition that improving governance and harmony in the society are prerequisites for needed economic policies to be devised and implemented, it said.

The chamber noted that it fully agrees with the measures relating to education, immigration, the environment, closer cooperation with the Chinese mainland, studying how to improve Hong Kong's competition policy and expanding opportunities in the financial service sector outlined in the Policy Address.

Chamber CEO Eden Woon said the chamber strongly supports the proposal to relax visa conditions for talented foreigners and mainlanders seeking work in Hong Kong. That should help improve the flow of highly skilled people through the Hong Kong economy.

"Our economic competitiveness depends on having the best available human resource to take advantage of our close economic integration with the Chinese mainland," he added.

HSBC, one of the banking giant, believed that the measures mentioned by the Policy Address will encourage Hong Kong's sustainable economic development.

The bank especially welcomes the expanding of Renminbi services of Hong Kong based banks and the implementation of the CEPA III (Chinese mainland/Hong Kong closer economic arrangement partnership) in the near future, which is expected to help lure investment and trade opportunities, it said.

Cathay Pacific Airways strongly supported the vision expressed by the chief executive "to maintain Hong Kong's vitality as Asia's world city."

The airline wholly supports Tsang in his determination to enhance Hong Kong's global position, strengthen bilateral ties with the Chinese mainland and maintain a level playing for field Hong Kong enterprises to "grow in strength and world-class status, " it told media.

Philip Chen, chief executive of Cathay Pacific said "establishing the full connectivity of air services, as well as other modes of transportation, is essential for Hong Kong to strengthen its position as a logistic center, global hub for air traffic and the predominant gateway for business and tourism to the Chinese mainland."

The Federation of Hong Kong Industries (FHKI) also expressed its support for the Policy Address.

Federation Chairman Kenneth Ting said the FHKI is in support of strengthening the government's training and employment services for local workers.

(Xinhua News Agency October 13, 2005)