'Let market forces rule'
( 2003-08-26 15:38) (China Daily HK Edition)
The government should let the forces of the free market to lead funds into
high-value-added industries; and allow the adjustment mechanism of a free market
to reduce costs and stabilize the property market, says a survey by the
Association of Chartered Certified Accountants released yesterday.
The survey sought members' response to concerns over government interference
in the market and the optimal business environment for the revival of Hong
Kong's economy.
The survey further recommends that the government formulate effective
policies in scaling down operations, privatizing government projects,
co-operating with neighbouring cities in the Chinese mainland and to implement
reforms in the education system to maintain an efficient government structure
and a supply of a high-quality workforce.
"Respondents have concerns over the government's intervention in the property
market, provision of subsidies to high-value industries and identification of
particular types of industries for the market. Our study supports that the
government uphold its role as a facilitator rather than a participant in the
market," said Leo Lee, president of the ACCA.
The ACCA maintains that the government should play an active but
non-interfering role in providing the optimal environment for the revival of the
local economy, he added.
|
