China.org.cn, June 25, 2012
Leung Chun-ying, the chief executive-elect of Hong Kong, maps out his vision for the special administrative region
ahead of his inauguration on July 1. In a bid to further bolster Hong Kong's strength as a shipping hub, Leung suggested
the region develop a wide range of shipping services instead of simply increasing cargo throughput.
Leugh named London as a role model, saying: "London, instead of shipping freight in and out of ports, offers services,
including ship sale sand rent, registrations, financing, management and insurance."
These services offer greater economic value, the 58-year-old said. "If Hong Kong simply tries to double cargo throughput,
it will expand its scale, but it will not take it to a higher level. We can do better than just expanding scale."
China is now a major ship-building nation and it handles huge volumes of cargo so it needs a shipping center, and Hong
Kong meets all the conditions, said Leung, citing multilingual workforce, international links and legal traditions as Hong Kong's
advantages.
<a href="http://s1267.photobucket.com/albums/jj559/365Wildfire/?action=view&current=001372acd0b51151fc1b04.jpg" target="_blank"><img src="http://i1267.photobucket.com/albums/jj559/365Wildfire/001372acd0b51151fc1b04.jpg" border="0" alt="Photobucket"></a>
Regarding Hong Kong's status as a financial center, Leung said that the region still has room for improvement, especially
when compared to London and New York.
"Just take a walk in Hong Kong's financial district, and then in London and New York, and you can feel the difference," he said.
More financial services have yet to be explored, he said. He cited, as an example, that while every bank in Hong Kong knows
how to finance real estate, "not every bank knows how to do financing for ships".
The mainland, with its resources and production capabilities, will create opportunities that Hong Kong can grasp to elevate
itself as a financial center, he said.
"I have a lot of confidence in Hong Kong's future economic well-being. We can clearly see the direction ahead of us," he said.
The incoming chief executive also wants to tackle poverty levels.
He conceded that Hong Kong has a wide wealth gap. But "the gap itself is not my concern. I'm concerned about those living
on incomes that are too low" and are impoverished, he said,adding that the solution is not necessarily "to narrow the wealth gap".
One of the measures his administration will adopt will be to improve the standard of living of those that are marginalized
through "a secondary distribution of wealth", such as building more public housing while trying to stabilize real estate prices.
Leung Chun-ying, the chief executive-elect of Hong Kong, maps out his vision for the special administrative region
ahead of his inauguration on July 1. In a bid to further bolster Hong Kong's strength as a shipping hub, Leung suggested
the region develop a wide range of shipping services instead of simply increasing cargo throughput.
Leugh named London as a role model, saying: "London, instead of shipping freight in and out of ports, offers services,
including ship sale sand rent, registrations, financing, management and insurance."
These services offer greater economic value, the 58-year-old said. "If Hong Kong simply tries to double cargo throughput,
it will expand its scale, but it will not take it to a higher level. We can do better than just expanding scale."
China is now a major ship-building nation and it handles huge volumes of cargo so it needs a shipping center, and Hong
Kong meets all the conditions, said Leung, citing multilingual workforce, international links and legal traditions as Hong Kong's
advantages.
<a href="http://s1267.photobucket.com/albums/jj559/365Wildfire/?action=view&current=001372acd0b51151fc1b04.jpg" target="_blank"><img src="http://i1267.photobucket.com/albums/jj559/365Wildfire/001372acd0b51151fc1b04.jpg" border="0" alt="Photobucket"></a>
Regarding Hong Kong's status as a financial center, Leung said that the region still has room for improvement, especially
when compared to London and New York.
"Just take a walk in Hong Kong's financial district, and then in London and New York, and you can feel the difference," he said.
More financial services have yet to be explored, he said. He cited, as an example, that while every bank in Hong Kong knows
how to finance real estate, "not every bank knows how to do financing for ships".
The mainland, with its resources and production capabilities, will create opportunities that Hong Kong can grasp to elevate
itself as a financial center, he said.
"I have a lot of confidence in Hong Kong's future economic well-being. We can clearly see the direction ahead of us," he said.
The incoming chief executive also wants to tackle poverty levels.
He conceded that Hong Kong has a wide wealth gap. But "the gap itself is not my concern. I'm concerned about those living
on incomes that are too low" and are impoverished, he said,adding that the solution is not necessarily "to narrow the wealth gap".
One of the measures his administration will adopt will be to improve the standard of living of those that are marginalized
through "a secondary distribution of wealth", such as building more public housing while trying to stabilize real estate prices.
