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Financial Secretary John Tsang
With the way the news has spread around nowadays, you know quite well what is going on in Hong Kong. As you know that since the financial crisis in 2008, everything has slowed down, and even the growth of economy in Hong Kong has slowed down quite substantially. This year we are looking at a growth rate of about 1 to 2%, so it is really not a very fast growth rate. But fortunately, we have been able to keep unemployment at a low level. It is now at 3.4%. And we have been keeping that low level of unemployment for quite a long time. And we are extremely lucky that we have been able to do that.
And looking forward, I think we will need to work harder because competition is becoming keener everywhere. So we look forward to a lot of young people who are educated here with huge expertise to come join us somehow in Hong Kong. As there is plenty opportunity, as the economic centre of gravity has shifted to the East, I think more and more opportunities will be found in the East. And Hong Kong is one of the best platforms that you can find great opportunities.
We are the gateway, not just to the Mainland of China, but also to the rest of Asia. We will be completing Free Trade Agreement with the ASEAN (Association of Southeast Asian Nations) countries. They have 10 countries with 600 million population. So the potential is massive. And now with the vision of President Xi in building up the Belt & Road Initiative, this is another opportunity that we hopefully will be able to grab hold of, and I think that will pose a lot of opportunities.
So I look forward to talking with some of the young people here, some of the professionals here. And perhaps you can find an opportunity to see for yourself what is in Hong Kong, what opportunity is there for you all to see. So I am very glad to have an opportunity to meet everyone, and hope that I will have an opportunity to have a short chat with you later on.
Financial Secretary John Tsang gave these remarks at the New York Chinese Community Luncheon in New York.
