ENG-1992 — Page 94

7

INDUSTRY AND TRADE

70

HONG KONG's trade policy seeks to promote a free, open and stable multilateral trading system; to safeguard Hong Kong's rights and fulfil its obligations as a contracting party to the General Agreement on Tariffs and Trade (GATT) and a party to the Multi-Fibre Arrangement (MFA); within the context of the GATT, to secure, maintain and improve access for Hong Kong's exports and to ensure and maintain the integrity of all measures adopted by Hong Kong to meet its obligations under multilateral and bilateral trade or trade-related agreements.

The role of the government is to facilitate industrial and trade activities within the framework of a free market. It neither protects nor subsidises manufacturers. It never- theless recognises a responsibility to provide an acceptable industrial infrastructure, particularly in terms of industrial land and manpower for industry, and to make available services which enable industry to become more competitive through productivity growth, quality improvement and product innovation. It also encourages technology transfer through an inward investment promotion programme.

Industrial policies are kept under review by the Trade and Industry Branch of the Government Secretariat, which acts on the advice of the Industry and Technology Development Council (ITDC). Members of the council include prominent industrialists and businessmen, academics, representatives of major industry and trade organisations, and government officers. The ITDC advises the government on the overall development of industry and technology in Hong Kong. To this end, it is assisted by the Technology Review Board and the Technology Committee. The role of the former is to review broad strategic directions in technology development having regard to global technology trends and the local circumstances, while that of the latter is to identify key enabling technologies deemed crucial to sustaining a competitive and healthy economy in Hong Kong. Industry specific committees have also been set up under the council. In addition, the council helps the government to administer the Applied Research and Development (R&D) Scheme which provides funding support to worthwhile applied R&D projects undertaken by private companies. Productivity, product innovation and quality improvement services are mainly provided by the Hong Kong Productivity Council and the Industry Department. The Industry Department also promotes inward investment in Hong Kong's manu- facturing industries. Responsibility for providing an efficient infrastructure within which industry can operate successfully rests with a number of government departments and