The Policy Address Promotes Prosperity and Stability in Hong Kong
2023-10-25
The Chief Executive, Li Ka chao, today (October 25th) released his second Policy Address during his term, entitled "Striving for Economic Development, Benefiting People's Livelihood and Adding Happiness", proposing a series of measures to enhance economic momentum, create opportunities, and ensure long-term prosperity and stability in Hong Kong. The government's governance philosophy is to implement the principle of "one country, two systems", develop the economy, improve people's livelihoods, and the governance goal is to ensure social care and integration, economic development is thriving, and citizens live and work in peace and contentment. The government will continue to improve the "governance system" and enhance society's national identity and patriotism. Implementing the principles of "one country, two systems" and maintaining national security, the government of the special zones will comprehensively, accurately, and steadfastly implement the principles of "one country, two systems", "Hong Kong people governing Hong Kong", and a high degree of autonomy, and maintain the constitutional order of the special zones as determined by the Constitution and the Basic Law. In order to implement the constitutional responsibility stipulated in Article 23 of the Basic Law regarding the prohibition of acts and activities that endanger national security through legislation, the SAR government will make every effort to seize the time, formulate effective legislative plans, and complete the legislative work within 2024. The government will also submit a legislative draft to the Legislative Council in 2024 to address the increasing risks of critical infrastructure cybersecurity. After taking office, the current government has been focusing on improving the governance system, governance capabilities, and governance effectiveness, focusing on improving the level of governance. In order to establish a culture of "results oriented" in the civil service team, the Policy Address introduced a total of 150 different indicators (including performance indicators (KPIs)), of which 73 were new indicators added this year. Li Jiachao said, "The overall work of each department meets expectations, and the indicators not only help me monitor the progress and effectiveness of work, but also more importantly, establish a government culture of 'results oriented'. The government has also announced the establishment of a 'Digital Policy Office' responsible for formulating digital government, data governance, and information technology policies. The Policy Address on Revitalizing the Economy elaborated on a series of measures to revitalize the economy and create development opportunities for advantageous industries. The government will drive development with infrastructure, strengthen transportation construction, continue to build land and expand economic development capacity. In order to strengthen Hong Kong's strength as an international business and financial center, the government will develop a "headquarters economy" to attract more domestic and foreign enterprises and talents to come to Hong Kong. The government will also introduce a company registration mechanism to facilitate the relocation of registered companies, especially those with the Asia Pacific region as their core business, to Hong Kong. The Investment Promotion Department and Hong Kong Exchanges and Clearing Limited will actively engage with major Hong Kong listed companies registered in other places and encourage them to relocate to Hong Kong. Other measures to attract talent and investment include allowing foreign personnel from qualified enterprises to apply for a "one visa, multiple travel" visa to mainland China. The government will also implement the "Capital Investor Entry Plan", allowing qualified investors who invest 30 million yuan or more in Hong Kong to apply for residency in Hong Kong. The government will establish a "New Industrial Development Office" to promote "new industrialization" and support the development of key enterprises in Hong Kong. The government will also establish a 10 billion yuan "New Industry Acceleration Plan" to provide more funding for enterprises in life and health technology, artificial intelligence and data science, advanced manufacturing and new energy technology. The government is promoting multiple large-scale development projects, including the "Northern Metropolis
Edit：Hou Wenzhe Responsible editor：WeiZe
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