Government must set direction for Hong Kong's economic development, says former financial secretary Antony Leung

Former financial secretary Antony Leung Kam-chung urged the government to do more to outline the direction of Hong Kong's economic development and be a "proactive market enabler".

His remarks came a day after Chief Executive Leung Chun-ying and Liberal Party chairman Felix Chung Kwok-pan exchanged fire over whether the city's laissez-faire economic policy was outdated and should be replaced by Leung's "proactive" principle. Chung warned the business sector was worried about intervention.

Antony Leung, who declined to say whether Chung or the chief executive were right, said: "When I was in government, I proposed that it should be a proactive market enabler … It means the administration should set a long-term economic orientation and direction for Hong Kong … and prepare the infrastructure and talents for Hongkongers to face changes in the [region]."

He said authorities should also help businesses to open new markets and remove red tape.

"When the external environment changes, the government has to be proactive … so I think the government should do more, and encourage discussion on the economic direction, as well as how we should grasp opportunities in global technological advancement."

The former minister warned that discontentment among the young could grow if the city continued to lack insight on how to further boost the economy.