HONG KONG, Sept 17 — In a bold and forward-looking policy address, Hong Kong Chief Executive John Lee laid out a vision to reinvigorate the city’s economy and enhance the everyday lives of its people — from housing to jobs, from healthcare to opportunities for the youth.
Speaking in his fourth annual address, Lee, a former top police official turned city leader, emphasized that the heart of his governance is people-first reform. His words were firm yet empathetic: “Our ultimate objective is simple — better housing, higher income, enhanced elderly care, and stronger hope for our youth.”
Despite headwinds from a sluggish global economy and the lingering effects of China’s property crisis, Lee maintained a steady outlook, reaffirming Hong Kong’s 2025 economic growth forecast of 2% to 3%.
His focus wasn’t just on numbers. It was about rebuilding trust, igniting ambition, and restoring confidence.
Key Highlights from the Policy Address:
- A Gold Standard Future: A new international gold trading market will be developed to reinforce Hong Kong’s position in global finance.
- Green and Fintech Growth: Investments in sustainable finance and financial technologies are on the horizon.
- Stronger Global Links: The HKMA will support banks, especially Chinese ones, to base regional operations in Hong Kong and expand into Southeast Asia and the Middle East.
- Aviation Evolution: Plans to recycle and trade high-value aircraft parts and build a sustainable aviation fuel industry.
- Healthcare Leap: The city will attract pharmaceutical firms for clinical trials, particularly in rare diseases and cancer.
- Northern Metropolis Push: This massive project will bring homes to 2.5 million people and create a modern business district near Shenzhen, integrating deeply into the Greater Bay Area vision.
- Education Hub: Increasing the non-local student intake from 40% to 50% signals Hong Kong’s intent to become a global education magnet.
- Pet-Friendly Policies: Licensing of eateries to allow pets taps into a growing market — with over 400,000 pets in 240,000 homes, this move merges lifestyle with economy.
- Family Incentives: In a bid to tackle declining birth rates, parents will now enjoy up to HK$260,000 in tax allowances per child during the first two years after childbirth.
A City Reconnecting With Its People
Though some critics noted the lack of new large-scale housing announcements, the address revealed a deeper intent: to listen, care, and act. Rather than overloading the public with grand yet distant ideas, Lee’s address signaled an effort to strengthen the foundations — people’s homes, incomes, care systems, and futures.
In the end, this wasn’t just a speech. It was a recommitment — to the people of Hong Kong, to their struggles, and to their dreams.
And perhaps, above all, it was a call to remember: prosperity means little without dignity, and growth is hollow without community.
