Representatives from several chambers of commerce met with government officials on Monday to submit their views towards the city’s inaugural five-year plan.

The session was hosted by Financial Secretary Paul Chan and Secretary for Commerce and Economic Development Algernon Yau.

Following the meeting, the Federation of Hong Kong Industries said it called on officials to promote the transformation of research and development into outcomes.

Vice chairman Alfred Ng said that more should be done to prepare the next generation of skilled workers.

“We also need to train up locals and students to prepare for the future,” he said.

“We all know that in the past maybe two decades, there are quite a lot of students not choosing science or engineering subjects. So we want the government to emphasise that.”

Ng added that a lot of talented individuals had come to Hong Kong for their studies over the years, but said it was crucial for the government to provide incentives for them to stay upon graduation.

The Hong Kong General Chamber of Commerce, for its part, suggested that authorities set up a “holistic and strategic” key performance indicator to promote the development of the Northern Metropolis.

“Also, for investment and financing, members suggested that we may consider having a cross-border renminbi bonds to issue, so they attract investment for the major infrastructure project at the Northern Metropolis," Wendy Lam, the chamber’s director of Policy and Research said.

Andrew Yao, a vice-chairman of the Chinese General Chamber of Commerce, Hong Kong said the government should continue to attract companies to set up shop in the SAR, particularly those that fall into sectors and industries which help the country’s development as outlined in the nation's 15th Five-Year Plan.

In this way, the SAR could produce new products, services as well as create employment opportunities, he added.

The Chinese Manufacturers’ Association of Hong Kong proposed that the SAR strive to join the Regional Comprehensive Economic Partnership (Rcep).

Given the city’s position as an international supply chain management centre, trade is crucial to Hong Kong, president Wingco Lo said, adding the city had signed free trade agreements with a majority of the economies under Rcep.



Edited by Tony Sabine