Hong Kong people are better prepared than ever to handle economic difficulties, according to Financial Secretary Antony Leung, speaking in Cantonese to Hong Kong reporters.

He said that the economy emerged stronger from the last financial crisis and that it would be easier to cope with the current problems. Hong’s Kong’s key industries needed a “stronger push” Mr Leung added, and the government would focus on improving the business environment and enhancing the quality of the people in a bid to stabilise the economy.

Mr Leung said that vast opportunities would open up to Hong Kong’s financial sector as a result of China’s entry to the World Trade Organisation, and that Hong Kong as Asia’s financial sector should make good use of this chance to buoy the economy. He added that the Government would not make any change to Hong Kong's currency link to the US dollar.

Mr Leung highlighted a series of measures to boost tourism that have been introduced including improving Hong Kong's scenic areas and granting more visas to mainland tourists. The Government was studying ways to combine development of the shipping sector with the traditional import, export and manufacturing sectors.

He said that Hong Kong had great potential to develop into an international fashion centre. A report would soon be submitted to the Government by the textiles and garment sector on how to promote Hong Kong as a fashion hub for the region.

Information technology development would be in the form of propelling the traditional sectors by equipping them with the latest technology, Mr Leung explained.