Chief Executive John Lee pledged in this morning’s 2024 Policy Address to promote the integrated development of culture, sports and tourism in Hong Kong, and to foster economic diversification in the city.

Mr Lee shared plans to enhance Hong Kong’s cultural soft power, promote sports development, build Hong Kong into a centre for international sports mega-events, and revitalise the city’s tourism industry. He also outlined initiatives to support small and medium enterprises (SMEs), develop the “silver economy”, and promote the sustainable development of Hong Kong’s agriculture and fisheries industries.

The Chief Executive said that in order to enhance Hong Kong’s role as the world’s East-meets-West centre for international cultural exchange and boost its cultural confidence, the Government would deepen institutional reforms to the city’s cultural system, and improve its cultural and economic policies.

Updating the community on the formulation of the Culture, Sports and Tourism Bureau’s (CSTB) Blueprint for Arts and Culture and Creative Industries Development, Mr Lee said the CSTB is due to consult the Culture Commission on it and will promulgate the blueprint later this year.

He added that the Cultural and Creative Industries Development Agency, established in June, is incubating cultural and creative projects with potential for commercialisation through the CreateSmart Initiative, and facilitating more registration of cultural and creative products on the Asia IP Exchange Portal. It is also turning Hong Kong Fashion Design Week into an annual signature event, with a view to establishing Hong Kong as a fashion design hub. 

Mr Lee also iterated that the West Kowloon Cultural District (WKCD) Authority is taking the lead on establishing an industry chain for Hong Kong’s arts, cultural and creative industries. He reported that it will promote the creation of a comprehensive arts trading ecosystem; host more major international cultural, creative and commercial events; export more performing arts programmes and exhibitions to the Mainland and overseas on a commercial basis; and brand the WKCD as a must-visit cultural landmark in collaboration with the Hong Kong Tourism Board (HKTB). 

On sports development, Mr Lee said the Government will continue to promote sports in the community, support elite sports, enhance the professionalism of Hong Kong athletes and sports teams, maintain Hong Kong as a centre for major international sports events, and develop sports as an industry.

He mentioned that the Hong Kong Sports Institute is reviewing the mechanism for direct financial support of athletes, including those with disabilities, and has set up a committee to oversee the development of sports medicine and sports science. He added that the Government will provide more sports and recreational facilities, including a new swimming complex suitable for hosting international competitions and a new sports arena with fencing facilities.

In terms of sports governance, the Sports Federation and Olympic Committee of Hong Kong, China will conclude its review of the governance and operation of national sports associations (NSAs). Mr Lee also outlined that the Government aims to develop Hong Kong as a host city economy and will make use of the new Kai Tak Sports Park (KTSP) and other existing venues to host large-scale international competitions so that Hong Kong athletes and teams can compete on home soil.

He added that the KTSP, due to open in the first quarter of 2025, will boost sports development and foster the synergistic development of major sports events, innovative entertainment, dining, conventions and exhibitions, and tourism activities.

With regard to tourism, the Chief Executive said the CSTB will publish its Development Blueprint for Hong Kong’s Tourism Industry 2.0 later this year. It will cover areas such as the development of eco-tourism, and the enhancement of tourism-support measures to encourage more visitor arrivals from the Middle East and Southeast Asia. There will also be efforts to create tourism products around specific themes, such as yachting, pandas and horse racing, build the city’s mega-event tourism economy, promote gastronomy tourism and cruise tourism, and develop “smart tourism” through the application of technologies such as AI (artificial intelligence).

In addition, Mr Lee said the Government will set up a Working Group on Developing Tourist Hotspots to co-ordinate with the community and develop new tourist hotspots in various districts. It has also proposed to the central authorities that the “multiple-entry” Individual Visit Endorsements for Shenzhen residents be resumed and that the “one trip per week” Individual Visit Endorsements pilot scheme be expanded to cover more cities.

Mr Lee added that starting from today the Government has relaxed the criteria for nationals of Cambodia, Laos and Myanmar in applying for multiple-entry visas for travel or business, and extended the validity period of the visas offered from two years to three.

The Chief Executive also unveiled a number of support measures to address challenges encountered by SMEs. These include re-launching the principal moratorium, meaning that enterprises that borrow under the SME Financing Guarantee Scheme will be allowed to apply for a principal moratorium for up to 12 months. Existing loans already granted under the 80%, 90% and special 100% guarantee products, as well as new loans under the 80% and 90% guarantee products, will be covered.

In addition, $1 billion will be injected into the Dedicated Fund on Branding, Upgrading and Domestic Sales to help SMEs upgrade their business operations and develop new markets, and the scope of Cyberport’s Digital Transformation Support Pilot Programme, which offers SMEs funding for digital transformation on a matching basis, will be expanded to cover the retail and food and beverage sectors.

Mr Lee said the Hong Kong Trade Development Council will formulate plans to set up more Hong Kong Pavilions at Mainland and overseas exhibitions, while an additional provision of $500 million will be allocated for the launch of the Incentive Scheme for Recurrent Exhibitions 2.0, which aims to attract large-scale international exhibitions to Hong Kong.

In terms of the development of a silver economy, the Chief Executive said new products and services must be developed in response to the rapid expansion of the elderly market. The Government will set up a “Working Group on Promoting Silver Economy”, led by the Deputy Chief Secretary, to implement measures to boost elderly-related consumption and support elderly consumers.

Mr Lee reported that the Government will also take forward the Blueprint for the Sustainable Development of Agriculture and Fisheries.