Policy Address

4. The Policy Address this year is anchored in two pillars: the economy and people's livelihood.

5. The Northern Metropolis is the new engine for Hong Kong's economic development and holds immense potential. I will accelerate its development and set up the Committee on Development of the Northern Metropolis under my guidance to formulate operational models for the various development areas therein. I will also expedite the development of the University Town, streamline administrative procedures by removing barriers and easing restrictions, adopt safe, efficient and cost-effective construction practices, and introduce dedicated legislation to fast-track the Northern Metropolis development. The Government will attract and cultivate industries to create jobs and enhance productivity. Preferential policy packages will also be formulated to improve efficiency and flexibility in negotiations with enterprises that are establishing and scaling up operations, thereby creating more high-quality, high income jobs and further boosting productivity.

6. Under "One Country, Two Systems", Hong Kong enjoys the unique advantages of attracting overseas enterprises and assisting Mainland enterprises to go global. In the past, we focused primarily on bringing in enterprises, achieving remarkable growth and success. The new opportunities ahead for Hong Kong, however, will come from helping Mainland enterprises expand abroad. This rapid shift in opportunities reflects the reshaping of the global trade order, prompting Mainland enterprises to shift from concentrating on a single market and towards proactively tapping into emerging markets. The Government will leverage Hong Kong's strength as a platform for going global to reinforce the role of Hong Kong as an international centre, capitalising on our advantages in areas such as finance, trading, professional services, supply chain management and professional networks, creating more jobs and higher income, further promoting the headquarters economy to unlock more business opportunities. We will also develop education, technology and talent in an integrated manner, and press ahead with the integrated development of culture, sports and tourism, enabling the people of Hong Kong to live in a community with thriving economy and vibrant culture.