Transcript of the Financial Secretary
Following is the transcript of a media session by the Financial Secretary, Mr Donald Tsang, after meeting with the Chief Executive (Designate), Mr Tung Chee- hwa, in Mr Tung's office this morning (Tuesday):
FS: I had an hour and forty-five minutes discussion with Mr Tung. Our discussion revolves round the 1997 Budget. I have now more or less finalised my own views on the expenditure side and the revenue side and I took Mr Tung through them quickly and we discussed also other related issues related to the 1997 Budget.
Reporter: Will you be staying on as the Financial Secretary?
FS: Well my wish to continue to serve as a civil servant as a Financial Secretary is known to all. But eventually it's a decision for Mr Tung. Okay, thank you very much.
End
HK's manufacturing shifts towards higher value-added
The focus of Hong Kong's manufacturing is shifting towards higher value- added activities, the acting Director-General of Industry, Ms Anissa Wong, said today (Tuesday).
Commenting on the 1996 Hong Kong's Manufacturing Industries published by the Industry Department, Ms Wong said the productivity of Hong Kong's manufacturing industries, measured in terms of value added per person, increased at an average annual rate of 13.7 per cent during 1984 and 1994.
The manufacturing sector enjoyed the highest growth rate in productivity among the four major economic sectors during the period from 1984 to 1994. It was also higher than the 12.9 per cent rate of the entire Hong Kong economy, she added.
The manufacturing sector is Hong Kong's second largest employer, employing 386,106 workers or 15.3 per cent of the total workforce in 1995. The gross output of Hong Kong's manufacturing industries stood at $296.19 billion in 1994.