Hong Kong Special AdministrativeRegion (SAR) Chief Executive Tung Chee Hwa on Wednesday pledged toinsist on "substantial investment" in education to transit the SARinto a knowledge-based economy.

Tung said in his policy address for 2005 that from this year to2007, the government will begin to increase second and third year places in local universities to provide further opportunities for learning for those who complete their associate degree programs.

He added the overall participation rate of senior secondary school leavers in tertiary education has already increased from 30percent in 2000 to 53 percent at present, expressing hope that thetarget of 60 percent by 2010 can be achieved ahead of schedule.

Tung said Hong Kong's reforms for primary and secondary education have started to produce results as the education system has become more flexible and diversified, citing the recently released Trends in Mathematics and Science Study 2003 which reported a high ranking of Hong Kong students in both mathematics and science and an increasing proportion of "elite" performers.

As for teachers, Tung promised that with effect from the next school year, the government will allocate additional resources to enable them to continue learning and to participate in professional development activities.

In the policy address delivered at the Legislative Council, thechief executive also touched on Hong Kong's health care system andits population policy.

He said that with regard to concerns of the financial sustainability of the SAR's current public health care system, thegovernment will undertake studies within the next two-and-a-half years to help lay the foundation for the formulation of long-term strategies.

On preparation for dealing with an aging population, Tung stressed the importance for the government to take early plans on the financing of elderly care.

With a low fertility rate, Hong Kong's population is aging rapidly. By 2033, people aged 65 or above are estimated to accountfor more than a quarter of Hong Kong's population.

Source: Xinhua