Today marks the 29th anniversary of the establishment of the Hong Kong Special Administrative Region of the People’s Republic of China and the fourth anniversary of the current-term Government.
Four years ago, President Xi Jinping delivered an important speech at the inaugural ceremony of the current term of the Hong Kong SAR Government. In it, he put forward “four musts” and “four proposals” for Hong Kong. These have become the heart of my governance blueprint. Over the past four years, I have changed the culture of the Government and formed a “result-oriented” Government, focusing on tackling long-standing issues. We have built a safe and stable Hong Kong by fulfilling the historic task of enacting local legislation under Article 23 of the Basic Law and strengthening the shield of national security. We have improved the electoral system and strengthened district governance, fully implementing the principle of “patriots administering Hong Kong”. We have deepened the reform of governance systems, and are steadily seeing results.
We have rationalised traffic among the three road harbour crossings to alleviate the long-standing congestion common to the crossings. We have formulated the Basic Housing Units Ordinance with the aim of eradicating, in an orderly manner, substandard subdivided units that have emerged over the past 10 years or so. We have made much effort to shorten the waiting time for public rental housing, including expediting and increasing public housing production, and filling the supply gap during construction stage with the innovative Light Public Housing. The Composite Waiting Time for Subsidised Rental Housing has reduced by 1.5 years, down from 6.1 years to 4.7 years, the shortest time recorded in over eight years. In addition, through cracking down on public rental housing tenancy abuse, we have recovered about 10,000 units. That’s equivalent to a medium-sized housing estate, enabling earlier flat allocations for some 10,000 families while saving about $10 billion in public rental housing construction costs.
As for the economy, it has shifted from negative growth of 3.7%, when the current-term Government took office, to positive growth of 3.6% in 2025. The economic growth momentum has continued over the year, with a significant rise of 5.9% in the first quarter, the strongest quarterly growth in five years. Hong Kong has secured third place in the Global Financial Centres Index. In the latest World Competitiveness Ranking, Hong Kong’s position has risen one spot further to rank second globally. And in the World Talent Ranking, Hong Kong has moved up 10 places to rank the fourth globally. Hong Kong also continues to come first as the world’s freest economy.
Faced with a competitive external environment and rapid technology changes, it is imperative that we drive reform and innovation from a longer-term perspective, coupled with more systematic planning. I am leading the Hong Kong SAR Government in formulating Hong Kong’s First Five-Year Plan, the public consultation for which has begun. Consultation for my Policy Address also commenced this week. Hong Kong’s Five-Year Plan is a strategic, forward-looking and directional guiding document providing clear directions for Hong Kong’s economic and social development. In line with the directions and requirements of the plan, the annual Policy Address of the Chief Executive will establish a number of specific targets, report on progress, and introduce policy measures having regard to the actual situation of the year. Hong Kong will seize the opportunities brought by national development, and leverage its advantage of being connected to both the Mainland and to the world, as well as its international prospects, to bolster economic development and enable the public to better share the benefits of development.
Looking ahead, we will focus our efforts in three main areas.
First, we will press ahead with the formulation of Hong Kong’s Five-Year Plan. Hong Kong’s Five-Year Plan is taken as a vital step towards ensuring economic and social advancement. As an important vehicle for pursuing the vision of “people-oriented” governance, it covers a wide range of areas concerning people’s livelihoods and well-being, including the economy, infrastructure, healthcare, education, housing and so on. We will actively integrate into and serve the overall national development through further reinforcing and enhancing Hong Kong’s status as a premier international hub in finance, shipping, trade, and innovation and technology; promoting the development of Hong Kong as an international aviation hub; strengthening Hong Kong’s functions as a global offshore renminbi business hub; fostering the establishment of a commodity trading ecosystem; developing Hong Kong into an international hub for high-calibre talent; deepening international exchanges and co-operation; and opening up new markets to consistently promote Hong Kong’s competitiveness.
Second, we will fast-track the development of the Northern Metropolis with the vision of incorporating industries, technology and a university town, and creating an environment ideal for living, working and travelling – marking a breakthrough in Hong Kong’s development. The Northern Metropolis development has progressed from the blueprint phase to maturity. The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone was officially opened last year, with two wet laboratory buildings already completed and fully leased. Construction of five other buildings will be completed within the year, and the Government will put up the remaining land for tender. University Town, another key component of the Northern Metropolis, will comprise university town areas bearing five major elements: education, technology, talent, industries and urban development. The University Town development has expanded in scale and vision from campus sites of just 100 hectares to university town areas spanning over 1,000 hectares. This will further promote the integrated development of industry, academic and research sectors, while bringing together more high-calibre talent.
Third, we will further improve people’s livelihoods. My vision for governance has all along focused on enhancing people’s well-being, particularly in such areas as housing, transport, healthcare, education, welfare, youth development and so on, aiming to provide a better living environment for our citizens, greater prospects for young people, and enhanced care for the elderly as we work towards building an inclusive and caring community where everybody can enjoy social harmony and stability.
July 1 this year also carries another significance – for today marks the special occasion of the 105th anniversary of the founding of the Communist Party of China. As stated in the Constitution of the People’s Republic of China, leadership by the Communist Party of China is the overriding principle of the political system of the People’s Republic of China. The Hong Kong SAR, established under the Constitution, has maintained the previous capitalist system and way of life. Our common law system continues to operate, and we enjoy the free flow of people, capital, data, goods and more. The vibrancy and prosperity of our country has always been Hong Kong’s strongest backing. Later this morning, the Hong Kong SAR Government will host the launch ceremony of activities in celebration of the 105th Anniversary of the Founding of the Communist Party of China, celebrating this extraordinary and meaningful occasion with all sectors of our community.
Distinguished guests, fellow citizens, we have long braved the strong winds and waves together, and today we will set sail for new horizons. I believe that, with our unique advantages under “one country, two systems”, coupled with the resilience and drive to succeed of our citizens, Hong Kong, the Pearl of the Orient, will ride the wave of flourishing national development and sail with the wind, steering towards a brighter and more prosperous future!
This is a translation of Chief Executive John Lee’s speech delivered at the reception in celebration of the 29th anniversary of the Hong Kong Special Administrative Region’s establishment on July 1.
