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Following is the full text of the speech (English only) delivered by the Financial Secretary, Mr Donald Tsang, at the Hong Kong Awards for Services Presentation Ceremony this (Monday) evening:
Mr (Y S) Lo, Ladies and Gentlemen,
It is my pleasure to be here this evening to take part in the presentation ceremony of the Hong Kong Awards for Services.
This year marks the third anniversary of the Awards. I am very pleased that we received a record number of entries, all of high standard. They have given us some tough time in selecting the winners.
All credit goes to the Organising Committee and the parties involved. Thanks to their hard work and relentless efforts, the Award scheme has within a short time established itself as the "Oscars" of the services sector in Hong Kong. It heralds the best performers and producers of our services sector, the driving force behind our economic growth in the last few decades.
Past achievement does not guarantee future success. In 18 days, we will enter the 21st century - an era when information, technological sophistication and innovation will be the key to success, when world trade will become even more globalised and e-commerce more dominant.
It is also an era when we will see China's accession to the WTO. Just as the Mainland's open-door policy in the late seventies has given us unprecedented opportunities and brought profound changes to the structure of our own economy, this major development in global trading history will once again open up enormous opportunities - for Hong Kong as well as for the whole world. Given our competitive edge in services, Hong Kong will benefit from the liberalisation of the Mainland's huge services market. We will benefit more than our neighbouring countires do.
But we should also be mindful of the challenges that we will face this time. There will be intense competition, not only from the international arena but also from within the Mainland itself. We must get ready for the change. We must re-position ourselves and develop new strategies in order to seize the new opportunities and sharpen our competitive edge. We need to add value and increase productivity. For individual companies, it could mean restructuring or diversification. For individuals, it would mean meeting the requirements of entrepreneurship, versatility, creativity, and constant self-improvement. In all, we have to change for the better.
What about the government? Hong Kong's success has always been built on an open market with a level playing field and minimal government intervention. Together with our world-class infrastructure, the rule of law and free flow of information, these components have blended together to sustain a wealthy and healthy growth in our economy. We will ensure that these pillars of success stand strong. We will continue to provide the best possible environment for our businesses to meet the growing competition. We are constantly mindful of our role to support and facilitate business, and promote a service culture that encourages excellence in quality. These are at the forefront of our agenda.
Close partnership between the private and public sectors is essential. I am pleased that we have a shining example here. The warm support for this annual event highlights the shared commitment in our services sector to the promotion of productivity, innovation, and service-upgrading - in short, the quest for excellence.
I want to congratulate all the entrants of this year's competition for their great efforts and high standards. My salute goes to the winners. You have done a marvellous job, and the award that you are going to receive in a moment represents the well-deserved recognition of your achievement by the community. You have not only answered the call for action to improve standards. You have also set the standard for excellence in the new century.
Last but not least, my special thanks to the five organisations and the sponsors who have worked together to make this Award a big success. In particular, I would like to express my heartfelt thanks to you, Y S, for contributing immensely to the Award's success with your dedicated effort as Chairman of the Organising Committee since its inception.
Thank you very much.
End/Monday, December 13, 1999
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