Hong Kong Chief Executive John Lee Ka-chiu committed his administration on Monday to fostering robust economic growth and enhancing quality of life for the city’s residents, saying that the national and global opportunities facing Hong Kong outnumber the challenges.
He was speaking during a reception commemorating the 27th anniversary of the establishment of the Hong Kong Special Administrative Region, held at the Hong Kong Convention and Exhibition Centre. The event also marked two years since Lee took office, following his inauguration presided over by President Xi Jinping.
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Lee reflected on Xi’s important speech from two years ago — specifically, the “four musts” and “four proposals” for Hong Kong — that have founded the basis of his governance blueprint. The current-term government has acted with concerted efforts and launched policies that have yielded results.
Looking ahead, Lee expressed confidence in Hong Kong’s transition from stability to prosperity, with the central government’s support, including the latest announcement that the SAR’s non-Chinese permanent residents will be able to get mainland travel permits, eliminating the need for visas, and the gift of a new pair of giant pandas.
Lee said that his governance team has focused on enhancing governance, stimulating economic momentum, addressing the concerns of the people of Hong Kong, and promoting harmony and stability.
He highlighted the administration’s innovative and proactive problem-solving approach. “I often emphasize that good can always be better — this is our attitude toward work,” he said.
Lee underscored several key achievements — such as fulfilling the SAR’s obligation of safeguarding national security through local legislation for Article 23 of the Basic Law, as well as helping the economy to recover following the COVID-19 pandemic.
Hong Kong had reversed a negative GDP growth of 3.7 percent in 2022 to a positive 3.3 percent in 2023, with expectations of 2.5 to 3.5 percent growth in 2024.
Additionally, the median salary of full-time employees has risen to HK$23,500 ($3,008), an 11 percent increase.
The government has also improved district governance through “care teams” in 18 districts; alleviate housing shortage with multiple strategies; proactively sought to boost the birth rate; and attracted global investment and talent.
A recent survey indicated that more than 60 percent of Hong Kong residents are satisfied with Lee’s governance, and nearly 70 percent approve of the HKSAR government’s endeavors to safeguard national security.
Lee pledged to maintain a big-picture perspective, embrace innovative thinking, and adopt a results-oriented approach in governance.
“While there are both opportunities and challenges for Hong Kong today, our opportunities decidedly outnumber the challenges,” he said.
Lee outlined the plans to tap into domestic and overseas opportunities, attract more enterprises to establish a presence in the city, leverage financial services expertise, and deepen mutual access with the mainland market.
With innovation and technology prioritized, Lee said he will adopt an industry-oriented approach to promote new industries such as pharmaceutical research and new energy transport.
Furthermore, the city must capitalize on its strategic position under the country’s support and global connections, bolstering its roles as “eight centers” under the National 14th Five-Year Plan (2021-25), in the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative; striving for accession to the Regional Comprehensive Economic Partnership; and expanding into markets such as the Association of Southeast Asian Nations and the Middle East.
Senior officials from the central authorities and local government, former chief executives, and representatives of various sectors were present at the customary reception, which followed a flag-raising ceremony at the Golden Bauhinia Square in Wan Chai.
Chief Secretary for Administration Eric Chan Kowk-ki, in his blog, emphasized that safeguarding national security is foundational for the city’s long-term stability, economic development, and livelihood improvement.
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He urged vigilance against disruptive activities, cautioning that hostile anti-China disruptors are continually seeking to destabilize Hong Kong.
Financial Secretary Paul Chan Mo-po emphasized the importance of continuous innovation, and expressed the government’s commitment to expedite efforts in developing emerging sectors including green technology, green finance, the digital economy, high-value-added logistics, and cross-border supply chain management.
Algernon Yau Ying-wah, secretary for commerce and economic development, highlighted the role of e-commerce and intellectual property trading in driving new quality productive forces.
He said that the SAR government will assist Hong Kong businesses in seizing opportunities to develop e-commerce, especially in exploring the booming market on the mainland. It will also consolidate the intellectual property protection regime to encourage more innovative research and development and promote intellectual property trading, Yau said.
