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Hong Kong has presented its annual policy vision, with a dual focus on reviving the struggling property market and strengthening national security laws. This policy outline, the second one delivered by the Chief Executive since assuming office, is crucial for Hong Kong’s recovery following the recent years of instability.
The plan aims to address critical challenges, bolster its economy, and enhance the well-being of its citizens. This ambitious blueprint encompasses a wide range of initiatives, from strengthening national security to promoting cultural development, supporting businesses, and investing in education and healthcare.
Hong Kong reaffirms its dedication to the “One Country, Two Systems” principle and is steadfast in its commitment to enacting Article 23 of the Basic Law, ensuring the preservation of national security.
In response to growing cybersecurity concerns, efforts are underway to bolster the digital defences of Hong Kong’s critical sectors, including energy, telecommunications, transportation, and financial institutions.
A renewed emphasis on education is expected to enhance the development of the city’s youth, while governance improvements will be facilitated through specific indicators, a restructured district governance system, and the establishment of offices for major development projects.
Hong Kong’s strategy for economic strengthening and diversification involves solidifying its position as a global financial centre, expanding international economic networks, promoting modern logistics and green finance, and offering support to small and medium-sized enterprises, all while fostering innovation and technology.
The development of the Northern Metropolis will be driven by an industry-centred approach that aims to integrate closely with neighbouring cities, contributing to the revitalisation of the tourism industry.
Hong Kong is resolutely committed to attracting enterprises to establish headquarters and corporate divisions within the city, with additional measures designed to retain and draw in talented individuals, including expanded visa processing for expatriates and the establishment of talent nurturing centres.
Addressing the housing crisis is a top priority in Hong Kong, with plans for the construction of a substantial number of public housing units. Simultaneously, the city is focusing on urban renewal, sustainable energy solutions, and transportation improvements.
As an international hub for post-secondary education, Hong Kong is set to double admission quotas for non-local students in post-secondary institutions and actively promote the development of the Northern Metropolis University Town.
A significant transformation is anticipated in the regulation of medical products, complemented by initiatives aimed at digitising health records to enhance accessibility and efficiency in healthcare services
The Hong Kong Productivity Council (HKPC) welcomed the Chief Executive’s 2023 Policy Address, which focuses on enhancing Hong Kong’s innovation and technology (I&T) ecosystem and expanding its talent pool. HKPC sees these measures as forward-thinking and comprehensive for Hong Kong’s development.
HKPC supports the establishment of the New Industrialisation Development Office and the promotion of new industrialisation. They aim to make Hong Kong a global I&T centre and promote foreign investment. HKPC will provide talent training programs to support new industrialisation.
They endorse the government’s initiatives to enhance cyber security and encourage green technology and green transportation. In e-commerce, HKPC is ready to assist enterprises using government funding for cross-border e-commerce.
HKPC is committed to supporting the integration of the Northern Metropolis into the national development agenda. They aim to help Hong Kong become an international I&T centre.
Hong Kong’s comprehensive policy vision outlines a diverse range of initiatives aimed at addressing various challenges and fostering growth. From national security to economic diversification, education to healthcare, the plan represents a multi-faceted approach to ensure the city’s prosperity and well-being in the years to come.
