Chief Executive John Lee Ka-chiu speaks to the media ahead of an Executive Council meeting on March 26, 2024. (PHOTO / HKSAR GOVERNMENT)

Hong Kong Chief Executive John Lee Ka-chiu said on Tuesday that the HKSAR government will focus on economic development via four themes following the enactment of the Safeguarding National Security Ordinance.

Lee said the government plans to  implement the measures proposed in the Policy Address and the Budget to promote economic growth, seize emerging opportunities, enhance Hong Kong’s competitiveness, and develop the domestic economy.

The Safeguarding National Security Ordinance came into effect on Saturday after receiving unanimous support from the Legislative Council on March 19. The new law aims to prevent and punish five types of acts that endanger national security, including treason, theft of state secrets, and espionage.

Lee said by consolidating and developing Hong Kong’s “eight centers” positioning as set out in the nation’s 14th Five-Year Plan, particularly focusing on the Northern Metropolis — a new town planned in the northern New Territories — as a new engine for growth, Hong Kong seeks to enhance its competitiveness and establish a clear direction for industrial development

Speaking before a weekly Executive Council meeting, Lee said the completion of the legislation fulfil the government’s constitutional responsibility. With this milestone achieved, Hong Kong can now shift its focus towards comprehensive economic growth and development, he said.

Lee said the government will implement measures outlined in both the latest Policy Address and the Budget, which are aimed at promoting economic development.

He said by consolidating and developing Hong Kong’s “eight centers” positioning as set out in the nation’s 14th Five-Year Plan, particularly focusing on the Northern Metropolis — a new town planned in the northern New Territories — as a new engine for growth, Hong Kong seeks to enhance its competitiveness and establish a clear direction for industrial development.

As the world’s economic focus shift towards the East, Lee said that the government will actively explore business opportunities in the ASEAN and Middle East markets — two emerging economic engines — while strengthening financial and regional economic cooperation.

In the meantime, Lee plans to boost the city’s roles as super-connector and super value-adder by proactively integrating its development into the nation’s development, enhancing connectivity among cities of the Guangdong-Hong Kong-Macao Greater Bay Area.

In this Aug 16, 2023 photo, the skyline of Hong Kong Island can be seen across Victoria Harbour as tourists throng the Avenue of Stars in Tsim Sha Tsui to enjoy a sunny afternoon. (SHAMIM ASHRAF / CHINA DAILY)

Lee expressed the administration’s commitment to attracting talent and businesses, citing significant progress made in the past 18 months. Invest Hong Kong has already assisted 101 Chinese mainland and overseas companies to establish or expand their presence in Hong Kong, marking a three-quarter increase compared to the same period last year.

He also said that the city has successfully wooed nearly 50 key enterprises to establish a foothold in the city, creating over 10,000 job opportunities.

Domestically, Lee also stressed the importance of boosting sectors such as tourism, consumption, and investment. He said Hong Kong aims to welcome approximately 50 million visitors throughout the year, representing an increase of nearly 50 percent from the previous year

Domestically, Lee also stressed the importance of boosting sectors such as tourism, consumption, and investment. He said Hong Kong aims to welcome approximately 50 million visitors throughout the year, representing an increase of nearly 50 percent from the previous year.

Lee said the city’s attractions, including the arrival of international cruise ships and the creation of new tourism routes offering unique experiences, are expected to contribute to this growth.

Lee also mentioned that the government will continue to explain and promote national security education.

In response to a question from reporters, Lee stated that the government has arranged meetings with local and overseas chambers of commerce for external outreach to explain the law.

He pointed out that when government officials visit foreign countries, they also have opportunities to engage with the business community. Lee explained that the benefits brought by the national security legislation to Hong Kong society are stability and security, which encourage businesses to come to Hong Kong and alleviate any security concerns.