HONG KONG, Feb. 25 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government intended to issue government bonds to promote the development of local bond market, Hong Kong's financial chief said Wednesday.

The development of the local bond market helped reinforce Hong Kong's position as an international financial center by offering more diversified investment products and avenues for financing, Financial Secretary John Tsang said in a budget speech.

HKSAR gov't continues managing public finances prudently

HONG KONG, Feb. 25 (Xinhua) -- Hong Kong's top financial official said here Wednesday that he would continue managing public finances prudently by keeping expenditure within the limits of revenues, and maintaining a low and simple tax regime.

John Tsang, financial secretary of the Hong Kong Special Administrative Region, said he had stated his principles of management of public finances in the 2008-2009 Budget, including managing public finances prudently by keeping expenditure within the limits of revenues, maintaining a low and simple tax regime, and following the direction of "Market Leads, Government Facilitates". 

HK to spend 300 bln HKD to create job opportunities

HONG KONG, Feb. 25 (Xinhua) -- Hong Kong would spend more than 300 billion HK dollars (about 38.46 billion U.S. dollars) to ease pressure of economic contraction, boost domestic demand and increase employment opportunities, said Hong Kong's top financial official here Wednesday.

"We will also introduce some targeted measures to provide various types of jobs and internship opportunities," said John Tsang, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, when delivering his second budget speech to the Legislative Council. 

HK gov't to create jobs, support employment

HONG KONG, Feb. 25 (Xinhua) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said here Wednesday that the budget for the fiscal year 2009-2010 was guided by principles including job creation.

Delivering his second budget speech as financial secretary at the Legislative Council here Wednesday morning, Tsang said that since his first Budget made in 2008, the global financial environment had changed dramatically. Therefore, in preparing this year's Budget, he had been guided by three principles. 

HK to provide additional funding to provide more jobs

HONG KONG, Feb. 25 (Xinhua) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said on Wednesday the government would provide additional funding to provide various types of jobs.

Delivering the budget for the fiscal year 2009-2010 at the Legislative Council, Tsang said he would provide an additional 1.1 billion HK dollars non-recurrent funding to provide various types of jobs. 

HK to foster cooperation with Guangdong, Macao

HONG KONG, Feb. 25 (Xinhua) -- Hong Kong's top financial official said here Wednesday that Hong Kong would foster its cooperation with neighboring Guangdong Province and the Macao Special Administrative Region.

"My confidence in Hong Kong's future is buttressed by our advantage in having the Mainland as our hinterland," said John Tsang, financial secretary of the Hong Kong Special Administrative Region, when delivering the 2009-2010-budget speech at the Legislative Council. 

HK to attract more Mainland tourists

HONG KONG, Feb. 25 (Xinhua) -- Financial secretary of Hong Kong John Tsang Wednesday proposed a string of measures to boost the city's tourism, including attracting more Mainland tourists through Individual Visit Scheme.

"In face of the current economic difficulties and competition from other regions, we should take proactive action to facilitate the continuous development of tourism," said Tsang while delivering his budget speech at the Legislative Council on Wednesday. 

HKSAR gov't supports full implementation of "Three Direct Links"

HONG KONG, Feb. 25 (Xinhua) -- Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) John Tsang said here Wednesday morning that the SAR government supported the full implementation of the "Three Direct Links" across the Taiwan Straits.

Tsang made the remarks when delivering the budget speech for the fiscal year 2009-2010 at the Legislative Council here Wednesday morning. 

HK to spend 61.7 bln HK dollars on education

HONG KONG, Feb. 25 (Xinhua) -- Hong Kong would spend about 61.7 billion HK dollars (7.9 billion U.S. dollars) for 2009-2010, accounting for the largest share of government expenditure, the top financial official of Hong Kong said here Wednesday.

"Human capital is the most valuable resource for our pillar industries and sustaining our economic edge," said John Tsang, financial secretary of the Hong Kong Special Administrative Region, when delivering the 2009-2010-budget speech at the Legislative Council.