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"Finally, the free flow of information is the lifeblood of a modern service economy. It leads to transparency and accountability in both the public and the private
sectors.
"It is the best protection against corruption and abuse of power, not only by Government but in the business world as well," said Mr Tsang.
End
5.5 per cent real growth in GDP forecast: FS
One of the major reasons Hong Kong had almost doubled its GDP in real terms since 1984 was the momentum of economic development in the mainland of China over this period, the Financial Secretary, Mr Donald Tsang, said in the Legislative Council today (Wednesday).
Delivering the 1997/98 Budget speech, Mr Tsang said Hong Kong had been uniquely placed to take the fullest advantage of the business opportunities created by economic modernisation and the "open door" policies.
He said Hong Kong had long had a clear understanding between the Government and the business community that business decisions are best left to entrepreneurs and investors.
"The Government's job is to provide the right environment for business to grow," he said.
Taking all factors together, said Mr Tsang, it is forecasting for this
year:
5.5 per cent real growth in GDP;
8.5 per cent increase in merchandise exports and eight per cent increase in exports of services; and
seven per cent increase in inflation (CPI(A)).
"Thus, as members can appreciate, 1997 promises to be another year of sound, sustainable growth.