XN000022-1996-03-12 — Page 4

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"The community does not seek to stand still and our development in the past 50 years has been characterised by successful restructuring in response to changing world economic conditions and internal demand," he said.

The Governor further noted that the transformation of Hong Kong into one of the world's leading services centres had not taken place at the result of directives or central planning by Government.

"That Hong Kong is now one of the world's foremost financial centres; a regional telecommunications, transport and trading hub; a leading tourist and convention destination in Asia; one of the world's most prolific film and entertainment production centres; and a major exporter of professional services to the rest of the region - all that is thanks to the creativity and initiative of our businessmen and the skills of our workforce.

"Exposure to international competition makes sure that they are seasoned competitors in the global marketplace," he said, adding that the recent success of Hong Kong-directed and Hong Kong-made films in Hollywood was a case in point.

He said the success of Hong Kong's services illustrated the paramount importance of keeping our markets open, and giving free rein to the creativity and entrepreneurship of our businessmen.

One must not overlook the fact that as governmental intervention increases, creativity and entrepreneurship invariably become constrained, he added.

Echoing the Financial Secretary's call for a Government-business partnership in supporting the further development of services industries in his Budget Speech, the Governor said the Government was committed to providing the infrastructure for business to flourish.

He noted that the Government's contribution was not just the 'hard' infrastructure in the form of the necessary physical facilities, but even more so the vital 'soft' infrastructure the availability of a skilled workforce; the rule of law; a level playing field for all; and a corruption-free society.

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