Hong Kong Chief Executive conducts first meeting with Council of Advisors on Innovation and Strategic Development

Hong Kong Chief Executive conducts first meeting with Council of Advisors on Innovation and Strategic Development

On March 27, Chief Executive of Hong Kong Special
Administrative Region (HKSAR) Mrs Carrie Lam conducted the first
with her Council of Advisers on Innovation and Strategic
Development. The meeting was held after a welcome lunch hosted by the Chief
Executive (CE) at the Government House.

According to the press release, the group had a useful
exchange of views on the future development direction of Hong Kong.

CE Mrs Carrie Lam shared with members her vision on the future of Hong Kong,
and the city could be better integrated into the overall development of the
country by leveraging on its unique strengths and adopting new roles of the
Government as a facilitator and promoter.

Credit: Hong Kong SAR Government

"The Government must be forward-looking and maintain a
strategic perspective in its governance. In addition to strengthening the
competitiveness of Hong Kong's traditional industries, we need to foster the
development of the new economy by embracing innovation and technology. With our
strong fiscal position, it is clear that we should invest more vigorously for
the future," she said.

At the meeting, Financial Secretary Mr Paul Chan gave a presentation on the
2018-19 Budget, to brief the group on the current fiscal position, economic
forecast in the medium term, and the economic challenges.

Members also deliberated on how Hong Kong could seize the
opportunities brought about by the Belt and Road Initiative and the
Guangdong-Hong Kong-Macao Bay Area development, and provided advice on the
factors essential to sustaining Hong Kong's economic development in the medium

The Council decided that further study should be conducted
to explore opportunities for Hong Kong arising from the Bay Area development,
in particular on proposed measures to facilitate the flow of people, goods,
capital and information between Hong Kong and other cities in the Bay Area.

The Council is a high-level body to advise the Chief Executive on Hong Kong's
future development and strategies for driving innovation. It gives advice on
the city’s strategic positioning in the global and regional contexts and
directions of economic development with an aim of enhancing Hong Kong's
competitiveness and growth potential.

It also provides guidance on evidence-based
research and studies on related issues with a view to enhancing policy
formulation to meet changing development needs, and advises on stakeholder
engagement and public participation in the policy formulation and consensus
building process.