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Hong Kong ranked world’s second most competitive economy

     Hong Kong ranked second globally in the International Institute for Management Development’s (IMD) World Competitiveness Yearbook (WCY) 2018. 
      
      A Government spokesperson said today (May 24), “The Hong Kong SAR Government is committed to enhancing the competitiveness and vibrancy of our economy.  The WCY again recognised that Hong Kong is one of the most competitive economies in the world.”
      
     Among the four main competitiveness factors of the WCY, HK maintained the top rank in “Government efficiency” and “Business efficiency”, both for the fourth consecutive year.  “Economic performance” climbed up from 11th to 9th on the back of above-trend economic growth.  Yet, HK’s ranking in “Infrastructure” fell from 20th to 23rd. 
      
     The spokesperson further said, “Amid the fierce competition from other economies, it is of utmost importance for us to consolidate Hong Kong’s competitive edges, including the fine tradition of the rule of law, an open and free market, an efficient public sector, and a robust institutional framework.   The Government is also dedicated to taking up a more proactive role as a “promoter” and “facilitator” and will promote diversified economic growth and enhance our human capital from a forward-looking and strategic perspective, with a view to broadening the economic base.”
      
     The spokesperson added, “The Government will strive to develop innovation and technology (I&T) as the new engine of economic growth.  Substantial resources have been allocated in recent years to upgrade technological infrastructure, build a vibrant ecosystem for startups, and pool and nurture more technology talent in Hong Kong. A wide range of tax and other measures have been rolled out in the first Policy Address and Budget of the current-term Government to support the development of various industries and improve the business environment.  These measures clearly demonstrate the Administration’s determination to further strengthen our competitiveness.”
      
     “In addition, following the shift in global economic gravity from West to East, China and Asia will continue to be the key driver of the global economy.  Hong Kong can play a unique role in the National 13th Five-Year Plan, the Belt and Road Initiative, as well as the Guangdong-Hong Kong-Macao Bay Area development.  These major initiatives will provide new and continuous impetus for Hong Kong’s economy.”
      
     The WCY 2018 released by IMD today assessed each economy on four competitiveness factors: “Economic performance”, “Government efficiency”, “Business efficiency” and “Infrastructure”, each consisting of five sub-factors. Among the 63 economies assessed, the US ranked first, Hong Kong second, followed by Singapore, the Netherlands and Switzerland. read more

East Asia

CHP reminds public on precautions against heat stroke during very hot weather

     The Centre for Health Protection (CHP) of the Department of Health (DH) today (May 24) reminded members of the public, particularly those undertaking outdoor activities, to take heed of necessary measures against heat stroke and sunburn in very hot weather.

     “The public should carry and drink plenty of water to prevent dehydration while engaging in outdoor activities,” a spokesman for the CHP said.

     “Those engaged in strenuous outdoor activities should avoid beverages containing caffeine, such as coffee and tea, as well as alcohol, as they speed up water loss through the urinary system,” the spokesman explained.

     “The obese, the sick, including those with heart disease or high blood pressure, the old and the young are more vulnerable to heat-related illnesses. They should pay special attention,” the spokesman added.

     The public should adopt the following precautions:
 

  • Wear loose and light-coloured clothing to reduce heat absorption and facilitate sweat evaporation and heat dissipation;
  • Avoid vigorous exercise and prolonged activities like hiking or trekking as heat, sweating and exhaustion place additional demands on the physique;
  • Perform outdoor activities in the morning or late afternoon;
  • For indoor activities, open all windows, use a fan or use air-conditioning to maintain good ventilation; and
  • Reschedule work to cooler times of the day.

     If working in a hot environment is inevitable, introduce shade in the workplace where practicable, and start work slowly and pick up the pace gradually. Get into a cool area for rest at regular intervals to allow the body to recuperate.

     The public should also note the latest and the forecast Ultraviolet (UV) Index released by the Hong Kong Observatory (HKO). When the UV Index remains high (6 or above):
 
  • Minimise direct exposure of the skin and the eyes to sunlight;
  • Wear loose long-sleeved clothing made of close-woven fabrics;
  • Wear a wide brim hat or use an umbrella;
  • Seek a shaded area or put on UV-blocking sunglasses;
  • Apply a broad-spectrum sunscreen lotion with a sun protection factor (SPF) of 15 or above. Apply liberally and reapply after swimming or sweating; and
  • While using DEET-containing insect repellents for personal protection against mosquito-borne diseases, apply sunscreen first, then insect repellent.

     If symptoms develop, such as dizziness, headache, nausea, shortness of breath or confusion, rest and seek help immediately, and seek medical advice as soon as possible.

     The public may get more information from the DH’s Health Education Hotline (2833 0111), heat stroke page and UV radiation page; the HKO’s Dial-a-Weather (1878 200), latest weather and forecast, UV Index and weather information for hiking and mountaineering; and press releases of the Labour Department on precautions against heat stroke for outdoor workers and their employers when the Very Hot Weather Warning is in force. read more

East Asia

CE meets CPPCC Vice-Chairman and President of China Association for Science and Technology (with photo)

          The Chief Executive, Mrs Carrie Lam, met Vice-Chairman of the National Committee of the Chinese People’s Political Consultative Conference and President of the China Association for Science and Technology Professor Wan Gang at Government House this afternoon (May 23).

     Mrs Lam welcomed Professor Wan’s visit to Hong Kong and said she was pleased to meet him for the third time since taking office. She thanked Professor Wan for his staunch support for Hong Kong’s development of innovation and technology (I&T) during his tenure as the Minister of Science and Technology and his continued concern for Hong Kong in his new capacity. She said she has been inspired by Professor Wan each time they have met, strengthening her resolve to help  Hong Kong to develop in I&T at full steam to catch up with others.

     She said that the current-term Government is determined to be proactive and has put forward various policy initiatives in the past few months to advance I&T development. These have included the launch of a listing regime for I&T companies from emerging and innovative sectors to list in Hong Kong to raise capital, the amendment of the Inland Revenue Ordinance to provide enhanced tax deduction to encourage enterprises to spend more in research and development, the announcement of the Technology Talent Admission Scheme to admit overseas and Mainland talent and nurture local talent for I&T enterprises, and the preparation for the establishment of two research clusters on healthcare technologies and artificial intelligence and robotics technologies to attract top global and local scientific research talent. She said that such initiatives are well received by local, overseas and Mainland parties, which demonstrates Hong Kong’s continued advantages. She expressed the hope that Professor Wan would continue to show his concern and support for Hong Kong so that Hong Kong’s I&T ecosystem would develop in a diversified manner.

Photo  
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East Asia