"Reinvent Heritage, Entrepreneurs in Action (承先革新、企業力行)

Speech by Mr Matthew CHEUNG Kin-chung, JP
Permanent Secretary for Economic Development and Labour
at the 40th National Convention of
the Junior Chamber International Hong Kong (JCIHK)
on 23 September 2005

Mr Cullinane, Ms Tsang, ladies and gentlemen:

It gives me great pleasure to be the Guest of Honour and address this Convention. The contribution of the Jaycee to Hong Kong is well recognized by the community since its establishment over half a century ago. Indeed, many of you have been the pillars of our society and the engineers of our socio-economic miracles in the past decades.

2. This year's National Convention has adopted the theme which underlies the success of Hong Kong and the Jaycee - that is: "Reinvent Heritage, Entrepreneurs in Action". From the humble beginnings of a fishing village, Hong Kong has skyrocketed into a leading and vibrant international business and financial centre. While we are a community rooted deeply in Chinese heritage, we are also a melting pot of international culture. We are a pluralistic, fair, open and upwardly mobile society. We are a place of opportunities where careers are always open to talent. We are, in effect, a world in a city, as much as Asia's World City.

3. Hong Kong has, for the past 11 years, ranked the freest economy in the world by the Heritage Foundation based in Washington, DC. This reputation is reinforced by the Fraser Institute of Canada and the Cato Institute of the United States, which have again recognised Hong Kong as the world's freest economy in their 2005 report released a fortnight ago. As a testimony to our business friendliness, apart from the overall top ranking, we come first in "freedom to trade internationally" and "regulation of credit, labour and business". To put it simply, our belief in free market economy, "small government, big market", "market leads, government facilitates", the rule of law and a level playing field for all has been well recognised and reaffirmed by the international community. These ingredients underpinned Hong Kong's success in the past and will continue to propel us forward robustly in the future.

4. Indeed, the development of Jaycee from a small group of civic-spirited and enthusiastic youngsters to an impressive network of 18 local chapters with 1,200 members in 55 years epitomizes the dynamism of modern Hong Kong. Today, Jaycee has firmly established itself as a leading local leadership development and community organization. It nurtures many of our young and talented leaders in business and the public sector. Its contribution to Hong Kong's socio-economic development has been notable.

5. To keep up with the increasingly globalised environment and to enable us to scale new heights, we must draw on our past experience and lessons. We must rely as much on the insight of our forbearers, as we do on our courage and foresight in meeting challenges in a fast changing world.

6. Hong Kong and its entrepreneurs have together weathered numerous storms in the past. Each time, we overcame all odds with our "can-do" spirit, our wisdom from the past, our vitality and our vision. Each time, we emerged with renewed vigour to charge ahead. I trust that this recipe, which has served Hong Kong well, will continue to make us tick. Working together, I am sure that we can build on this success and reinforce our economic vibrancy and unique cultural heritage.

7. Finally, I wish you all a most fruitful Convention, and Jaycee every success in the years ahead. I am confident that the Jaycee movement will go from strength to strength. Thank you.