Policy Address

Mr President, Honourable Members and fellow citizens,

I. Introduction

1. The current-term Government upholds the vision of “Developing the Economy and Improving People’s Livelihood”. We believe that only through economic development can we improve people’s livelihood and promote social harmony and inclusion.

2. The Heritage Foundation of the United States has rated Hong Kong as the world’s freest economy for 22 consecutive years. According to the Human Freedom Index 2016 published by the Cato Institute of the United States, Hong Kong has topped the ranking for six consecutive years. The index measures the state of freedom in 159 jurisdictions based on 79 indicators covering such areas as the rule of law, freedom of movement, civil liberties and economic freedom.

3. Over the past four years, Hong Kong’s economy has seen moderate growth and receding inflation. The Government maintains a sound fiscal position. The working population increased in total by 160 000 while the unemployment rate remained at a very low level. Apart from reinforcing the competitive edges of traditional industries, the Government also strives to promote the development of emerging industries.

4. Land and housing supply for the short and medium terms has increased significantly while medium and long-term planning is actively pursued. Many infrastructure projects are underway.

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