Chief Executive John Lee Ka-chiu has highlighted plans to introduce high-end, competitive industries to Hong Kong, which are likely to create thousands of jobs, as the new Policy Address reinforced the administration’s determination to improve both the city’s economy and livelihood.

Lee was speaking during a Legislative Council session in response to lawmaker Dennis Leung Tsz-wing, who raised concerns about supporting local workers and making better use of the domestic labor force.

Following a long-standing tradition, Lee, who delivered his fourth Policy Address on Wednesday, visited the legislature on Thursday morning to answer lawmakers’ questions over the newly released policy blueprint.

Lee noted that Hong Kong’s industrial structure “has not undergone surgery” for years, stressing the need to diversify the industrial structure and move beyond its heavy reliance on the services sector.

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The Policy Address sets out a separate chapter for industry development and reform, emphasizing the introduction and cultivation of emerging industries while consolidating traditional strengths such as finance.

Key measures include promoting the development of the life and health technology industry by encouraging more pharmaceutical companies to establish operations in Hong Kong, exploring the potential of the space economy, as well as attracting aircraft recycling enterprises and training relevant talents.

Lee said he expects these measures to significantly improve Hong Kong’s overall industrial landscape.

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Several other legislators expressed their concerns over various issues, including the civil service department head accountability system, the importation of non-local labor, the yacht economy, and the allocation of social welfare resources.

In Lee’s concluding remarks, he emphasized that the governing philosophy and ultimate goal of his administration are “the economy and people's livelihood”, which complement each other.  

“Economic growth improves people's livelihood; improving people's livelihood can stimulate new vitality in the market, create more high-quality jobs, and drive wage increases; in turn, the government will increase fiscal revenue, build more infrastructure, and provide more public services.”

Contact the writer at stacyshi@chinadailyhk.com