Hong Kong Should Endeavor to Diversify Economy, Financial Secretary Chan Says

The transcript discusses Hong Kong's economic landscape, emphasizing the need for diversification beyond its service industries, which are vulnerable to global economic changes. It highlights Hong Kong's strengths in financial services and the importance of developing talent-intensive and high value-added industries. The text also outlines strategies to enhance financial resilience and maintain Hong Kong's position as a global financial center.

What percentage of Hong Kong's GDP in 2017 was accounted for by service industries?

• Over 57%

• Less than 50%

• Exactly 60%

• About 45%

Why is it difficult for Hong Kong to revert to labor-intensive production industries?

• Limited technological advancement

• Insufficient government support

• High land and production costs

• Lack of skilled labor

What is one of the key strategies suggested for Hong Kong's economic diversification?

• Investing in natural resource extraction

• Developing talent-intensive industries

• Expanding agricultural activities

• Focusing on low-cost manufacturing

Which of the following is NOT mentioned as a strength of Hong Kong's financial sector?

• Ample liquidity

• Sound legal system

• Free flow of information

• High taxation rates

What is a key focus for enhancing Hong Kong's financial services industry?

• Limiting investor protection

• Reducing international collaborations

• Decreasing market liquidity

• Strengthening regulatory frameworks