Aid Urged For HK Enterprises In Chinese Mainland

by Mary Swire, for LawAndTax-News.com

30 April 2008

Hong Kong's Chief Executive, Donald Tsang, has asked the Chinese authorities to help Hong Kong enterprises facing industrial relocation and restructuring problems in the Mainland.

Speaking to the press in Wuhan, Hubei Province at the weekend, Mr Tsang expressed the hope that his visit to the city can help Hong Kong enterprises to have a better understanding of the development opportunities in Hubei and the Mainland's central region.

Mr Tsang also met Chinese Vice Premier Wang Qishan during his stay in the province. They discussed global economic issues, including global financial challenges and the opportunities and challenges Hong Kong and Asia in general are likely face in future.

When asked how he was planning to tackle the inflation problem in Hong Kong, Mr Tsang said that the Government attaches great importance to the issue, adding that the 2008-09 Budget has outlined measures to alleviate the grass roots' burden. More tailor-made initiatives may be introduced for individual sectors, if necessary, he revealed.

On the Wage Protection Movement, the Chief Executive announced that a final review will be conducted when the movement comes to an end, reiterating that the Government will prepare for the introduction of legislation for a minimum wage if the campaign fails to yield satisfactory results.

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