Hong Kong Special Administrative Region Chief Executive Carrie Lam Cheng Yuet-ngor displays copies of her policy address at a news conference on Wednesday in Hong Kong. (CALVIN NG / CHINA DAILY)
The steadfast support of the central government will add fresh impetus to Hong Kong’s economy and help the city better integrate into national development, Chief Executive Carrie Lam Cheng Yuet-ngor said on Wednesday when delivering her fourth Policy Address.
The address, which came after Lam’s visit to Beijing and Guangdong to seek support for economic revival, highlighted the central government’s backing for Hong Kong’s deeper involvement in national development.
Benefiting from its proximity to the mainland and the central government’s firm support, Hong Kong can continue to capitalize on its strengths to serve the country’s needs, with proactive participation in dual circulation, CE Carrie Lam said
The support was shown in various areas, such as further integrating the Hong Kong Special Administrative Region into development of the Guangdong-Hong Kong-Macao Greater Bay Area, maintaining Hong Kong’s status as a global financial and aviation center, and boosting its innovation and technology development.
The measures also include facilitating Hong Kong enterprises to tap into the mainland domestic market; offering vaccines for the city to fight the COVID-19 pandemic; and improving the infrastructure of land boundary control points between Hong Kong and Shenzhen, Guangdong province.
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The road to recovery for Hong Kong, which was severely battered by the pandemic and social unrest, is fraught with difficulties, Lam said. In comparison, the mainland has seen a quick economic rebound and put forward the new “dual circulation” development pattern, which features the domestic market as the mainstay and the domestic and foreign markets supporting each other.
Benefiting from its proximity to the mainland and the central government’s firm support, Hong Kong can continue to capitalize on its strengths to serve the country’s needs, with proactive participation in dual circulation, she said.
Given the advantages under “one country, two systems”, Hong Kong can take Greater Bay Area development as an entry point to become a participant in domestic circulation and a facilitator in international circulation, Lam added.
To drive forward these favorable policies, the city needs to comprehensively and accurately implement the principles of “one country, two systems”, “Hong Kong people administering Hong Kong” and a high degree of autonomy, she emphasized.
Given the political challenges that Hong Kong encountered in recent years, one of the society’s urgent priorities is to restore constitutional order and rid the political system of chaos, Lam said. After implementation of the new National Security Law for Hong Kong in June, the city’s stability has been remarkably improved, with a decrease in activities that undermine national security, she added.
READ MORE: Lam praises National Security Law for restoring stability
The government is drawing up plans to conduct large-scale public education through the annual Constitution Day and National Security Education Day to correct the fallacies caused by inadequate understanding of national security and the Constitution.
Lam's Policy Address comprised about 200 new measures, including initiatives targeting housing shortage and youth development
The address, comprising about 200 new measures, also noted efforts to promote the city’s long-term development.
Lam announced that to satisfy the demand for public housing in the next decade, the government has identified 330 hectares of land to build 316,000 public housing units.
In addition, for youth development, the government has earmarked HK$100 million (US$12.9 million) to subsidize 200 start-ups by young people via a new funding program. It will also launch another program to encourage enterprises operating in the Greater Bay Area to recruit local university graduates, with a quota of 2,000.
It also will launch a five-year, HK$2 billion program to attract outstanding overseas talent to boost innovation and technology.
READ MORE: Highlights of CE's 4th Policy Address
Political parties and social leaders supported the policy address, saying it was the right direction for solving Hong Kong’s mounting economic and political challenges.
Starry Lee Wai-king, chairwoman of the city’s largest political party, the Democratic Alliance for the Betterment and Progress of Hong Kong, said Lam’s emphasis on mutual connections with other cities in the Greater Bay Area will fortify and enhance Hong Kong’s development in innovation and technology, as well as offer new opportunities for young people.
Lawmaker Christopher Cheung Wah-fung, who represents the financial services sector, welcomed the central government’s support in financial services and expressed hope for expansion of mutual connections in finance between Hong Kong and other Greater Bay Area cities.
