A further question which could be addressed by the advisory committee is where would Hong Kong be shaping up in the field of information technology during the coming decade.
up
and banks
Fourthly, I think it is timely for Government to step
the momentum to encourage more
other financial
institutions to extend longer term loans at competitive interest
rates to industry for the installation of more up-to-date
machinery and other capital equipment. I am glad that the
Financial Secretary is looking into the question of more
availability of venture capital for Hong Kong industry.
The Bank of China and its affiliated banks are reported
to have extended $4 billion in loans to local industrialists last
year, and that 90% of such loans were granted to small and medium-sized companies. I am
sure other banks are doing the same
thing with varying degrees of involvement, but I would urge that
Government be seen to more positively stimulate such a trend among local financial institutions.
In closing, I would like to reaffirm my support for
Government's policy of positive non-intervention in industry whereby Government does not intervene in the working of the free
market, is fully committed to providing necessary industrial support facilities and technical back-up services, and above all,
from now
more positively goes about building up the
technological infrastructure to enable industry to move ahead
with greater momentum, whether related to industry generally or
to certain sectors of industry.
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