The Chief Executive, Mr John Lee, set out his vision for Hong Kong and outlined his initiatives for the city’s development in the next five years through his inaugural Policy Address today (October 19).

     Mr Lee said the Policy Address, entitled "Charting a Brighter Tomorrow for Hong Kong", was a "Policy Address for Hong Kong citizens".

     "In the next five years, I will lead the government team to unite and motivate all sectors of the community, and give full play to our fine traditions of inclusiveness, unity and respect for different viewpoints," Mr Lee said.

     "We will make our best endeavour, all for better serving our people and better developing Hong Kong, so that the Pearl of the Orient will shine brighter than ever." 

"One Country, Two Systems"

     The Chief Executive said that the full and faithful implementation of the "One Country, Two Systems" principle would help to ensure Hong Kong’s long-term prosperity and stability, while also safeguarding national sovereignty, security and development interests. 

     The Chief Executive said that under the "One Country, Two Systems" principle, Hong Kong has "the distinctive advantages of enjoying strong support of the Motherland and being closely connected to the world".

     "Having direct access to the huge Mainland market and strong international connectivity at the same time, Hong Kong serves as a bridge linking the Mainland and the rest of the world.

     "Key national strategies including the 14th Five-Year Plan, the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and the Belt and Road Initiative provide Hong Kong with unlimited opportunities."

     Referring to impacts from previous social unrest in the city as well as the changing external environment and the COVID-19 epidemic, the Chief Executive said the "prosperity and stability we now enjoy cannot be taken for granted."

     "Having restored order from chaos, we must stay alert to threats and dangers, adopt bottom-line thinking, and sustain our efforts in safeguarding national sovereignty, security and development interests in order to guard vigilantly against the recurrence of threats," Mr Lee said. 

     "We fully support the Judiciary in exercising its judicial power independently in accordance with the law, and protect and support judges, prosecutors and legal practitioners in discharging their duties in accordance with the law. We will safeguard due administration of justice and the rule of law to enhance the confidence of the public and the international community in our rule of law."

Enhancing governance systems

     The Chief Executive pledged to take a result-oriented approach to policy-making while also enhancing governance systems, capability and efficacy. 

     "I will improve our governance systems on various fronts, including the decision-making structure, institutional objectives, leadership roles, distribution of powers and responsibilities, as well as execution mechanisms," Mr Lee said. 

     He added that he would set up the Chief Executive's Policy Unit within this year to enhance capabilities in research and advocacy on long-term and strategic issues. 

     "In respect of the governance system on government investments, I have asked the Financial Secretary to set up a new Hong Kong Investment Corporation Limited to further optimise the use of fiscal reserves for promoting the development of industries and the economy," Mr Lee said. 

Creating strong impetus for growth

     To create strong impetus for growth, the Chief Executive announced that he had set aside $30 billion to establish a Co-Investment Fund aimed at attracting non-local enterprises to set up operations in Hong Kong. 

     He added that, to support the convention and exhibition industry, a new $1.4 billion scheme would be launched next year to subsidise over 200 exhibitions to be staged in Hong Kong in three years. 

     To attract investment and new talents to the city, Mr Lee announced the setting up of an Office for Attracting Strategic Enterprises as well as a new Talents Service Unit which would co-ordinate work for attracting enterprises and recruiting talents and provide them with one-stop support. 

     A Mega Arts and Cultural Events Fund would also be set up to support the staging of international arts and cultural events. 

     The Chief Executive said he would tackle the public housing shortage by enhancing the quantity, speed, efficiency and quality of housing.

     Mr Lee unveiled a new Light Public Housing (LPH) initiative, which would provide some 30 000 units within five years, to help reduce the waiting time for public rental housing units. Together, LPH and traditional public rental housing would produce about 158 000 units in the next five years, about 50 per cent more than the amount in the previous five-year period.

     The Chief Executive also announced plans to revamp the healthcare system by placing greater emphasis on prevention and early treatment as well as enhancing the role of Chinese medicine.

     "Guided by the important speech delivered by President Xi on July 1 as the governance blueprint for the current-term Government, it is our hope to better serve our people and better develop Hong Kong, so that everyone can share the fruits of our achievements," Mr Lee said.

Ends/Wednesday, October 19, 2022
Issued at HKT 14:18

NNNN