Financial Secretary Henry Tang hopes ministers at the WTO 6^th Ministerial Conference will agree on a platform on which the final stage of the Doha Development Agenda negotiations will be based, making the conference a success.

This is essential for achieving the goal of successfully concluding the negotiations by the end of 2006, he added.

Speaking on a radio talk show today, Mr Tang said a draft Hong Kong Ministerial Declaration has been prepared for WTO members' discussion next week. It sets out the crucial elements under the five key negotiating items of the Doha Development Agenda and ministers will decide, among other things, whether more elements could be agreed.

Mr Tang stressed hosting the conference can underline the successful implementation of 'One Country, Two Systems' in Hong Kong as well as the autonomy the city enjoys in trade and economic matters.

Turning to Hong Kong's financial situation, Mr Tang said the economy has been performing better than expected, with 8.2% growth recorded in the third quarter.

Government revenue fluctuates

He pointed out government revenue fluctuates often. The income from investments in the first nine months of this financial year only reached half of the Government's target while income from land sales is lower than expected.

Noting the public's aspiration for tax cuts, Mr Tang said the potential impact of other factors, such as the global economic climate and bird flu outbreaks, must be considered when preparing his budget, adding next year's economic growth may slow down.

When asked whether there will be any salaries tax reduction, Mr Tang said a decision will be made in February when he presents his budget proposals.