John Lee, the policy spokesperson of Hong Kong, pledges changes in the economy for 2025 - as history dictates
Hong Kong's Chief Executive, John Lee Ka-chiu, delivered his fourth policy address, outlining a wide range of measures aimed at driving the city forward.
In education, the non-local undergraduate quota will be increased at public universities, and semi-private primary and secondary schools will admit more non-local students on a self-funded basis. This move is expected to bring in fresh perspectives and broaden the city's international connections.
To support Small and Medium Enterprises (SMEs), a series of measures will be rolled out. The details of these measures are yet to be announced, but they are intended to provide a much-needed boost to this vital sector of the economy.
In the realm of civil service, an accountability system for senior civil servants will be set up, and underperforming officials may face consequences such as salary reductions, retirement, or dismissal. This new system has been unveiled to ensure that the civil service is effective and efficient.
John Lee Ka-chiu vowed to take personal charge of expediting the development of the Northern Metropolis. A dedicated legislation and a committee chaired by the city leader will be established to speed up work on this ambitious project. However, there is currently no information available about who will lead the new committee.
Recognising the importance of international recognition, measures will be taken to promote the international recognition of Hong Kong's public examinations. This move is expected to enhance the city's standing on the global stage.
In the economic sphere, an Economic and Trade Office will be set up in Kuala Lumpur, and the network will be expanded to Latin America and Central Asia. The stock and bond markets will be strengthened, and a gold trading market will be built up.
To address the issue of ageing society, a high-level working group will be set up to develop strategies for this challenge.
In an effort to improve people's livelihoods, more subsidised housing will be supplied to offer more home-buying options. The cash-for-residency scheme will be enhanced by lowering the residential property transaction price threshold from HK$50 million to HK$30 million.
A new initiative, developing a yacht economy, has also been proposed. John Lee Ka-chiu's ultimate objective in his governance is to improve people's livelihoods.
The policy address is crucial to John Lee as he has less than two years to deliver on his agenda before his term expires in mid-2027. New requirements will be imposed on employers applying to bring in imported labor.
In summary, John Lee's fourth policy address presents a vision for a dynamic and forward-looking Hong Kong, with a focus on education, civil service accountability, economic development, and improving people's livelihoods.
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