CURRENT PERFORMANCE INDICATORS

Hong Kong's remarkable success as a major international business, financial and services centre depends crucially on the availability of competent professional services and expertise. Specifically, accountants, lawyers, engineers, surveyors, planners, architects, management consultants and quality assurance professionals underpin the smooth operation of the business sector and Hong Kong's physical development.

• In 1995, there were about 9?00 professional firms, employing some 73?00 people, or 2.5% of the total working population.

• In 1994, these services generated $20.8 billion in terms of value added, representing about 2.2% of Hong Kong's Gross Domestic Product.

THE GOVERNMENT'S COMMITMENT

We are committed to :

• providing a sound framework for the professions to regulate themselves;

• encouraging professional bodies to maintain the highest levels of integrity and international technical standards in order to provide quality services within Hong Kong and abroad;

• creating a level playing field for existing and potential players;

• protecting the interests of consumers against unprofessional conduct;

• pressing the case for liberalising trade in services by active participation in the World Trade Organisation and seeking the best possible market access for our professional services;

• ensuring that our seven tertiary institutions funded by the University Grants Committee offer the highest standards of professional training to equip Hong Kong professionals to compete effectively in the highly competitive domestic and international markets; and

• maintaining a dialogue with professional bodies to exchange views on issues of common concern.

POLICY DIRECTIONS

We propose, in consultation with the professions, to :

• explore the possibility of setting up a joint office, with common facilities, for professional institutions in Hong Kong to relieve their difficulties in finding suitable accommodation;

• amend relevant legislation to guarantee an objective, reasonable, non-discriminatory and standards-based framework for foreign professionals to practise in Hong Kong;

• encourage competition within the legal profession and improve the position of consumers of legal services by implementing the proposals in the Report on Legal Services in Hong Kong;

• bring into force amendments to the Professional Accountants Ordinance to allow auditors to incorporate if they take out adequate professional indemnity insurance;

• support a local professional planning institute to run examinations to enable overseas trained planners to qualify for membership in Hong Kong;

• seek, as a service user, to make better use of external consulting services to improve the Government's productivity and cost-effectiveness by :
  • rationalising the current procedures on the employment, tendering and award of external consultancies in the Government to increase flexibility, reduce processing time, enhance transparency and ensure value for money;

  • tasking the Management Services Agency to co-ordinate and provide technical support for the use of consulting services in the Government;

• establish a centralised record of the consulting industry and service-providers as an easy reference for potential users;

• encourage the consultancy industry to improve its linkage with other business sectors through conferences, seminars and exhibitions;

• develop the Hong Kong Laboratory Accreditation Scheme into a Hong Kong Accreditation Authority to provide a more comprehensive accreditation programme; and

• improve the collection and dissemination of relevant economic and business data of Hong Kong and other potential markets so as to alert both the professional sector and interested investors to available business opportunities.

Whilst the Government will do its best to facilitate the further development of these professions, it will be for the professions themselves to continue to take the lead in promoting the wider use of their services, improving the quality of service and enhancing competitiveness.

The private sector makes its vital contribution by :

• adopting world-class professional practice standards;

• participating in international and regional co-operation forums aimed at improving and harmonising professional standards;

• developing and enforcing professional codes of practice vigorously so as to safeguard their clients' interests against improper conduct;

• investing in technology, research and training to enhance efficiency and professionalism;

• preparing for entry to the Chinese-speaking market by enhancing its bilingual skills; and

• fostering co-operation with professionals in China and Asia so as to create more business opportunities.

LONG TERM ISSUES

The rapid economic development of China and of the region as a whole offers considerable opportunities for the professions in Hong Kong to expand and export their services. Local professionals are well placed to develop these markets because of Hong Kong's well established trading links and reputation for efficiency and competence. To preserve their competitive edge, the professions should maintain a high degree of integrity and professionalism by adhering to international standards.

Attorney General
Secretary for Financial Services
Secretary for Planning, Environment and Lands
Secretary for Trade and Industry
Secretary for the Treasury
Secretary for Works

March 1996