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the lessons of competitiveness and performance as the key to
success. In short, that the world does not owe them or the
United Kingdom a living.
So much for the general picture. You have in Hong Kong always
had a concern for the recreation of enterprise, for the emergence
of new firms and sectors which reflect the changing circumstances
in your own environment and that which faces you in other economies.
We too have always been very aware of the changes in the patterns
of industrial activity flowing from the constant evolution of our
economies, Western and Eastern, and the need to ensure that our
own economy evolves in response. Innovation, in dynamic sectors
like information technology, and the scope for firms to grow or
be born are keys to that evolution.
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We therefore encourage innovation and new technology. We look
increasingly to investing more in the future and less on supporting
the casualties of the past. In the area of direct financial support for industry we are moving the balance away from nationalised
industries and the public sector and towards measures to help industry
to innovate. At-present We are providing support for the development
of ease technologies such as microelectronics, fibre optics and
biotechnology for the use of new technology in flexible manufacturing
systems or office systems; and for the development of new information
technology products, including computer software. Support has almost
doubled in real terms since my Government came to office.
shows the strength of our commitment to advancing innovation.
That