In the first place I would like to express my great gratitude to MISS, a prominent office in PolyU, provides us with such a fascinating tour. Definitely it is one of the best tours I have hitherto particpated in. Despite it is only a five-day tour, it gives us an all-dimensional view of Singapore's development in the areas of housing policy, education, finance and information technology. We are also very fortunate that the tour guide is erudite who helps us obtaining more in-depth perception of Singapore's local conditions and culture. After this tour, I have the reflection concering the followng two aspects:
Firstly, if Hong Kong is a popular place that enforces no intervention in market, then Singapore tells us how a government can provide the complement to free economy. During this tour, the guide emphasized a lot about the benefits concerning the policies implemented by the incumbent party. The housing policy of government-built apartments not only relieves the living pressure of Singaporeans but also is recognized as one of the grestest accomplishments in Asia. Such policy stabilizes the property market and confines the areas for property investors. In Hong Kong, the unregulated property market rose an amazing 19% during the year to the end of Q1 2011, the highest property price rise in the world. Property price increases in Hong Kong are now accelerating again, despite the economy slowing. It brings ponderous burden for local citizens to own a flat and creates unstability.
Besides housing policy, another great achievement of Singapore government is her determination in stimulating and promoting investment in high-technology research. The establishment of venture capital organizations, such as NRF and SPRING, reflects Singapore's heavy investment in such areas. Hong Kong government has, for a long time, devoted to provide technology development through different policy: the establishment of Science Park and specific funds for practitioners. However, such investment so far cannot make great impact and some end up into property assets. Unlike Singapore, Hong Kong does not provide adequate policies to attract global leaders in technology field to setup their regional headquarters in Hong Kong.
To sum up, this is one of the most significant tours I've experienced. The fruitful itinerary offers a wealth of visits to unveil the many perspectives of Singapore to us during her road of globalization. We also had a taste of Singapore culture and history. I really appreciate Mr Simon's efforts. Without his network, we would not have the chance to have face-to-face chat with the top elites in Singapore. Also many thanks to Mr Kings, he is such a nice guy who provides us with great care, and enlivens all the students to mingle in the tour. Last but not least, I want to give my warmest thank and appreciation to MISS.