Diversified Development

35.    Hong Kong has long been a cradle for entrepreneurs.  The city is renowned for its favourable business environment, with a fair and transparent market system, a liberal and open investment climate, and a simple and low tax regime.  Legends of rags to riches live on for generations.  Many entrepreneurs started their business without much experience, technology or capital.  But their flexibility and market acumen have opened up new opportunities in different trades and markets.

36.    Social enterprises are gaining recognition in Hong Kong.  With business models that balance economic and other social values, they mark the maturing of our society.  Research showed that each dollar of public funding contributed four to seven dollars of workfare to those disadvantaged employees, reflecting the significant benefits brought about by social enterprises.

37.    Diversified and dynamic, Hong Kong boasts a melting pot of cultures with a blooming talent pool in the cultural and creative sectors.  I shall take the fashion industry, the film industry and the arts and culture sector as examples to unveil Government's initiatives in promoting these industries.