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Cathay Pacific welcomes budget speech principles given by Financial Secretary

22 Feb 2006

Cathay Pacific Airways today welcomed and strongly supports the financial policy principles expressed by Henry Tang, Financial Secretary of Hong Kong Special Administrative Region, in his Budget Speech "Market Leads, Government Facilitates".

The airline welcomes the Government's business facilitation measures to cut red tape and streamline procedures, therefore reducing the cost of doing business in Hong Kong and enhancing our competitive edge.

Cathay Pacific Chief Executive Philip Chen agrees with the Financial Secretary that the best foundation for business is to maintain an orderly market, a level playing field, and a favorable business environment that will enable Hong Kong companies to compete efficiently in global markets.

On growth opportunities, Cathay Pacific concurs with Mr. Tang that the Mainland has become the economic engine of the Asia-Pacific region, and that Hong Kong should identify those of its own strengths which can complement the motherland's development.

Mr. Chen said: "We fully agree with the Financial Secretary that this will be the key to the future of Hong Kong and the airline will fully support the Government's efforts to facilitate the use of Hong Kong as a gateway to the international market by Mainland enterprises."