ENG-2000 — Page 139

COMMERCE AND INDUSTRY

measures impinging on international trade and investment other than those required to discharge its international obligations or to protect health, the environment and access to high technology.

The Government's industrial policies aim to promote industrial development by creating a business-friendly environment and providing adequate support services. The Government zones land for general and specialised industrial use. In this regard, the Government made available 24 960 square metres of industrial land for sale by tender and by application in 2000. Private developers provided an additional 18 700 square metres of flatted factory space during the year. In addition, the Government maintains and develops advanced education and training facilities, ensures a modern legislative and regulatory environment, and supports industry in enhancing productivity and quality through technology and management improvement. It also encourages inward investment but neither protects nor subsidises any specific industries.

With the weight of the Hong Kong economy shifting towards knowledge-based and higher value-added activities, the Government puts increasing emphasis on promoting innovation and technological improvement in industry and business. It aims to strengthen support for technology development and application, build up a critical mass of fine scientists and engineers, skilled technicians and venture capitalists, and encourage the development of a significant cluster of technology- based businesses. To make Hong Kong a regional centre for innovation, the Government has been implementing recommendations of the Chief Executive's Commission on Innovation and Technology to drive forward innovation and technology, particularly in respect of the proposed institutional arrangement and the building up of human capital. In a step to strengthen the Government's institutional framework in accordance with the commission's advice, the Chief Executive appointed a Council of Advisors on Innovation and Technology in April. The council advises on all aspects of Hong Kong's innovation and technology policy. To provide further policy support, an inter-bureau committee chaired by the Financial Secretary was set up to co-ordinate the Government's efforts. Separately, a new Innovation and Technology Commission was set up within the Commerce and Industry Bureau in July, to spearhead Hong Kong's drive to become a world-class, knowledge-based economy.

Trade and industrial policies are kept under review by the Commerce and Industry Bureau, which is part of the Government Secretariat. The Trade And Industry Advisory Board and the Textiles Advisory Board advise the Secretary for Commerce and Industry on trade and industry issues. Members of these bodies comprise prominent industrialists and businessmen, representatives of major industrial and trade organisations and government officials.

External Trade

Hong Kong's external trade experienced robust growth in 2000 amid the sustained strong demand in the region and the major markets, as well as the rebound in domestic demand and the economic recovery. For the whole of 2000, Hong Kong's total trade increased by 17.8 per cent to $3,230.7 billion. Domestic exports increased by 6.1 per cent to $181 billion while re-exports rose by 18.1 per cent to $1,391.7 billion. Imports surged by 19 per cent to $1,658 billion.

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