Developing Green Industry into one of the Pillars of Hong Kong

Running head: DEVELOPING GREEN INDUSTRY INTO PILLAR I

Developing Green Industry into one of the Pillars of Hong Kong

Dennis Yeung Hiu Fung (s106326)

Hang Seng Management College

DEVELOPING GREEN INDUSTRY INTO PILLAR II

Abstract

In recent years, the development of green industry has been discussed hotly in Society because SAR government has positioned the industry as one of the six pillar industries. This paper aims to find out what problem does green industry's owners face and evaluate the economic value of developing Green Industry in Hong Kong through analyzing the governmental policy and the scholars' argument. While the circumstance that developing Hong Kong Green Industry need to encounter is difficult, the government policy will conduce to the expansion of the industry. And potential market of mainland also provides great opportunities for local green companies to earn money. All in all, green industry will become one of the main impetuses to boost Hong Kong economy.

DEVELOPING GREEN INDUSTRY INTO PILLAR 1

Developing Green Industry into One of the Pillars of Hong Kong is a must

Introduction

Since handing over in 1997, Hong Kong has relied a lot on its financial industry and service industry to maintain the development of its economy. But with the development of China and Singapore, the development of financial and service do not have enough impetus to maintain the Hong Kong's competitive edge in Asia. At the same time, the pollution in the territory is quite serious. Thus, the green industries were suggested by many citizens for boosting the local economy and alleviating the pollution in Hong Kong simultaneously. This paper examines what difficulties green industries encounter and explain why green industry should be supported.

Cause of developing Green Industry

In reality, the so-called green industry did not appear in Hong Kong in the 20th century. But with the about 10% upsurge of the litter in Hong Kong, as stated by Zhu (2010), the green industry started to be focused in 1980s. The green industry finally is suggested to be one of the six pillar industries in Hong Kong by Donald Tsang (2009).

DEVELOPING GREEN INDUSTRY INTO PILLAR 2

Difficulties of operating Green Industry

But