Following is the translation of the speech made by the Chief Executive, Mr John Lee, in delivering "The Chief Executive's 2025 Policy Address" to the Legislative Council this morning (September 17):

Mr President, Honourable Members and fellow citizens,

Chapter I  

Deepen Reforms and Committed to People's Livelihood

1. This year marks the conclusion of the National 14th Five-Year Plan period and the preparatory year for the 15th Five-Year Plan. This Policy Address serves as a roadmap for Hong Kong to strive for a vibrant economy, pursue development, and improve people's livelihood – accelerating our advancement from stability to prosperity. It also outlines a strategic plan for Hong Kong to proactively align with national development strategies and achieve breakthroughs in forging a new landscape.

2. My ultimate objective in governance is to improve people's livelihood with better housing for members of the public, higher income for workers, enhanced care for the elderly, and greater prospects for young people. The well-being of our people is intimately linked to the health of our economy, making economic growth the key driver of livelihood improvement. Growth creates job opportunities and wealth, which will in turn generate additional resources for public services, enabling the Government to deliver more and better services. Improvement in people's livelihood will then spark new social demands that stimulate market development, further promoting economic growth. The economy and people's livelihood are mutually reinforcing: each strengthens the other.

3. Since taking office, I have been actively promoting reforms, both within the Government and in the wider community, thereby facilitating economic growth and improving people's livelihood. I have transformed and instilled in the Government a culture that is "result-oriented". We have been pressing ahead with public housing production and introduced Light Public Housing (LPH). Three years ago, applicants for public rental housing (PRH) waited an average of 6.1 years for a flat; the Composite Waiting Time is now 5.1 years, a reduction of one full year. Over the same period, the median household income rose by $3,000, an increase of 11%. Since I assumed office, the economy has rebounded – turning from negative to positive and gaining momentum. This year's growth is projected at 2% – 3%. In the past three years, Hong Kong has moved up one place to become the third-ranked global financial centre and has climbed four spots to rank third globally in overall competitiveness. In the last two years, we have risen 12 places to the fourth globally in talent competitiveness. Furthermore, Hong Kong is ranked seventh among the world's top 10 safest cities.

4. The Policy Address this year is anchored in two pillars: the economy and people's livelihood.

5. The Northern Metropolis is the new engine for Hong Kong's economic development and holds immense potential. I will accelerate its development and set up the Committee on Development of the Northern Metropolis under my guidance to formulate operational models for the various development areas therein. I will also expedite the development of the University Town, streamline administrative procedures by removing barriers and easing restrictions, adopt safe, efficient and cost-effective construction practices, and introduce dedicated legislation to fast-track the Northern Metropolis development. The Government will attract and cultivate industries to create jobs and enhance productivity. Preferential policy packages will also be formulated to improve efficiency and flexibility in negotiations with enterprises that are establishing and scaling up operations, thereby creating more high-quality, high income jobs and further boosting productivity.

6. Under "One Country, Two Systems", Hong Kong enjoys the unique advantages of attracting overseas enterprises and assisting Mainland enterprises to go global. In the past, we focused primarily on bringing in enterprises, achieving remarkable growth and success. The new opportunities ahead for Hong Kong, however, will come from helping Mainland enterprises expand abroad. This rapid shift in opportunities reflects the reshaping of the global trade order, prompting Mainland enterprises to shift from concentrating on a single market and towards proactively tapping into emerging markets. The Government will leverage Hong Kong's strength as a platform for going global to reinforce the role of Hong Kong as an international centre, capitalising on our advantages in areas such as finance, trading, professional services, supply chain management and professional networks, creating more jobs and higher income, further promoting the headquarters economy to unlock more business opportunities. We will also develop education, technology and talent in an integrated manner, and press ahead with the integrated development of culture, sports and tourism, enabling the people of Hong Kong to live in a community with thriving economy and vibrant culture.

7. To strengthen governance, I will establish an accountability system for Heads of Department (HoDs) by systematising and institutionalising their responsibility for their departments, and enhance the appraisal system for civil servants so that a culture of continuous improvement can take root. I will also set up the AI Efficacy Enhancement Team to drive technological reform, co-ordinating and steering government departments in the effective use of artificial intelligence (AI) technology and in the re-engineering of outdated workflows. Meanwhile, I will promote the development of AI+ with strong emphasis on safety risk prevention, and implement AI government services and facilitate the wide-scale application and development of AI across different sectors in the society to boost overall efficiency. I will also put into practice the philosophy of better integration of "an efficient market" with "a capable government", and introduce market-based business model to enhance the services of the Leisure and Cultural Services Department (LCSD).

8. This Policy Address concludes with the most extensive chapter concerning people's livelihood. It encompasses nine critical areas which are essential to the well-being of the community, covering land and housing, transport, healthcare, social welfare, labour protection and a caring and inclusive society, under which include continuously increasing public housing supply to enrich the housing ladder; creating land for large development projects, promoting long-term economic development and addressing housing needs while increasing government land reserve; continuing healthcare reform; implementing 11 measures to support local economy, continuing the work on targeted poverty alleviation, promoting the principle of "ageing in place as the core, with institutional care as back-up", supporting and protecting workers, and establishing the Working Group on Ageing Society Strategies to meet the challenges brought by ageing. These demonstrates my commitment to placing people's livelihood at the heart of governance. Indeed, economic development ultimately serves the well-being of our people, enabling them to enjoy better quality of life.

9. I would like to thank the public for their valuable opinions during the consultation exercise, and for their broad support of my policy directions and strategies. This Policy Address will elaborate on our policy objectives, key measures and key performance indicators (KPIs). A Supplement offering more details on the policy measures and related matters has also been compiled.

(To be continued.)

Ends/Wednesday, September 17, 2025
Issued at HKT 11:15

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