Supporting SMEs to tide over the financial tsunami (November, 2008)

I am highly concerned about the difficulties of small and medium-sized enterprises at times of sever credit crunch like this. The Government has taken some initiatives and announced that a HK$ 10 billion loan scheme will be provided for SMEs to tide over tough times, and that the Export Credit Insurance Corporation will introduce new enhanced measures. Nevertheless, the SMEs still badly need help at this difficult time, in my view. In the Legco meeting of November 12, there was a motion debate on this topic. I had highlighted three issues in my speech:

1. The SMEs should be given more flexibility and convenience in obtaining necessary cash flow to maintain their operations;
2. It is equally important for the government to help SMEs to develop new markets;
3. The SMEs should also be encouraged to make use of Intelligent Capital to create new value for their businesses.

Issues arising from Lehman Brothers-related minibonds (November, 2008)

After eight hours of heated debate, the Legislative Council passed a motion on November 12 to invoke the Powers and Privileges Ordinance to probe into the Lehman Brothers saga. I also voted in support of the motion.Although there are reservations or opposition from the government and the banking sector, I think special power is necessary for the Subcommittee to find out more truth: Whether there are any flaws in our banking regulatory system? Whether any officials had neglected their duties? Whether local banks had used unfair or misleading sales tactics?

Panel inquiry on Mr. LEUNG Chin-man (November, 2008)

The Legislative Council plans to vote on Dec 10 on whether a Select Committee should be set up to investigate the post-service employment of former housing chief Mr. Leung Chin-man.Shall the motion be carried, the Select Committee, which consists of 12 members to be nominated on Dec 12, will be granted the Powers and Privileges Ordinance to start investigating. The Committee will look into important decisions on housing or land policies that Mr. Leung had made during his services in the government, and whether any of them was related to his post-retirement job offer. The Committee will also recommend policies governing the post-service work of directorate civil servants. Thus, I plan to join the Committee.