Chief Executive John Lee

Since taking up office, I have pushed ahead with many reform measures to transform government culture, strengthen the systems and improved various regimes. Our goal is to keep Hong Kong going, and make it a city in which people live in better homes, enjoy better education and cherish their lives. We strive for this goal.

I always take time to reflect and listen to views of others to ensure that our policies are working and our measurers are effective. I take a close look into the daily needs of our people while staying abreast from a global perspective of the world trend, our nation’s strategic outlook and the societal interests. While keeping our principles and being innovative when taking forward reforms, we have to look at the flip sides that a measure may bring other than its benefits. Reform is essential, but we should always be mindful that it is a means and not an end, that it should never undermine success factors that are well established and work effectively.

Having regard to various objective facts, I do believe that our overall policy directions are on the right course. Over the past two years or so, median monthly household income has risen by about $2,800, up over 10%, while over 100,000 jobs have been added. The waiting time for public housing has been shortened by six months, and the first batch of Light Public Housing will soon be completed for intake, filling the gap in the supply of public housing. District governance and Care Team services are firmly in place in all 18 districts across the city. Outcomes of our efforts to trawl for talent and enterprises are also well recognised.

Thanks to the concerted efforts of all concerned, Hong Kong’s status as an international financial centre has climbed up one place to restore the global third position, putting an end to the negative narratives of our city’s future. We moved up two places to rank fifth in world competitiveness, and rose seven places in talent competitiveness, to stand among the world’s top 10 once again. Hong Kong also retains the top spots in global ranking in investment environment, international trade, business legislation and air cargo throughput, etc.

That said, past performance is no guarantee of future success. We must not be complacent, but keep up our momentum for advancement and reforms. We must remain confident in ourselves and uphold our morale, standing firm against any efforts to downplay our success story.

This Policy Address deepens the reforms that I have introduced since I became Chief Executive. It presents enhanced measures to boost the economy and improve people’s livelihoods. It seeks to address the prevailing needs of our people, while mapping our vision and long term goals for building a brighter future for Hong Kong.

Amid the accelerating global changes not seen in a century and complex geopolitics, the uncertainties surrounding Sino-US relations have exposed Hong Kong to frontline external political forces. But while we are facing many challenges, they are outweighed by the opportunities available to us. Global economic gravity continues to shift eastward and investment is also shifting in the same direction to balance geopolitical risks. Hong Kong boasts a secure and stable investment environment, enjoys a favourable location at the heart of Asia, and is the only city in the world where China’s advantages and international advantages converge. Blessed with our linkage with our motherland and close connection to the world, as well as the solid backing of our country, including the central government’s support and measures benefitting our city, Hong Kong stands to prosper. We must seize every opportunity to make progress and renew ourselves. Indeed, with the wisdom and experiences of Hong Kong people, coupled with the 'dare to fight and win' spirit in us, I am confident that Hong Kong will continue to go from strength to strength and attain new heights. Through our united efforts to reform and innovate, our economy will go even stronger and our people will lead a better life, making Hong Kong a shining city.

This is an English translation of the closing remarks in Chief Executive John Lee’s 2024 Policy Address, which he delivered on October 16.