Building a Bright Future Together

The Chief Executive, Mrs Carrie Lam, delivered her annual Policy Address themed “Building a Bright Future Together” on October 6, 2021. The Policy Address sets to position Hong Kong as a leading innovation and cultural hub.

Following a series of challenges the city faced during the last two years, including the COVID-19 pandemic, the HKSAR Government has maintained the spirit of overcoming all challenges and proactively serving the people, advocating policy breakthroughs and striving to resolve society’s most pressing problems. This year’s address focused on wide-ranging strategies to advance Hong Kong as an international gateway and make the city fit for the future.

With the implementation of the National Security Law and the improvement to its electoral system, Hong Kong is more ready than ever for a new start for economic development. Not surprisingly, innovation and technology (I&T) is the driving force for Hong Kong’s next era of economic growth. The policy address outlines a number of concrete forward-looking measures that will help drive I&T development and re-industrialisation in Hong Kong to capture the abundant opportunities arising from the 14th Five-Year Plan. These initiatives, which includes forming a spatial framework of “Twin Cities, Three Circles” with Shenzhen, will enhance the flow of talent, capital, technology and research across the Guangdong–Hong Kong–Macau Greater Bay Area (GBA).

The Chief Executive announced the earmarking of several strategic sites for I&T uses. While the increase of land supply for I&T will help further support its fast-growing ecosystem and contribute to the development of the GBA as an international I&T hub, another essential element is the attraction of key talents. Mrs Carrie Lam announced to double the annual quota of the Quality Migrant Admission Scheme (QMAS) to 4 000 from 2 000 last year to attract more talents from all over the world to work in Hong Kong.

The QMAS has attracted tens of thousands of applications from around 100 countries and territories since its introduction in 2006. Unlike other general admission schemes, successful applicants for QMAS are not required to have secured an offer of local employment before their entry to Hong Kong for settlement. These measures are a clear commitment that Hong Kong remains open to global talents under the “One Country, Two Systems” principle with unique opportunities in the GBA. In addition, two new professions - financial professionals in compliance in asset management and professionals in environmental, social and governance – were added to the Talent List of Hong Kong. The QMAS will help to attract young professionals in finance, law, aviation, art and culture, and sci-tech scholars to enrich the city’s talent pool. With Hong Kong’s high quality of living, a year-round calendar of cultural, arts and sports events as well as stunning nature just around the corner, it offers the ideal conditions for those looking to work and live in a multicultural place in Asia.

Another major initiative not to be missed is the Chief Executive’s vision for a new Northern Metropolis in Hong Kong, a flagship initiative that will drive the city’s future growth. It will be an area spanning over 300 sq km (30,000 hectares) from west to east and will be developed as an international I&T hub. Thus, the Northern Metropolis is expected to facilitate the city’s development and integration with Shenzhen as well as connection with the GBA.

On the other hand, the Chief Executive highlighted the importance of strengthening the arts and culture industries to develop Hong Kong into an East-meets-West centre for international cultural exchange. With its unique creative atmosphere, where Chinese and Western cultures meet, Hong Kong is best positioned to become Asia’s city of culture and creativity. The first global museum of visual culture in Asia, M+, opened its door on November 12. Together with the creation of the Hong Kong Palace Museum, the Lyric Theatre Complex, as well as the East Kowloon Cultural Centre, Hong Kong is building world-class cultural facilities and is expanding its vision in becoming a metropolis for arts and culture.

Capitalising on the rapid economic development of the Mainland including the vast opportunities brought about by the GBA, Mrs Carrie Lam stressed that Hong Kong should play the role of a “facilitator” and a “promoter” to keep connecting with the world to open up markets and explore business opportunities. Another major endeavour will be to enhance Hong Kong’s status as an international transportation centre. With over 150 years of maritime heritage and robust international connectivity, Hong Kong is one of the top 10 container ports in the world and a transshipment hub in the region. Some 280 weekly container vessel sailings connect to over 600 destinations worldwide. For Hong Kong’s port to remain competitive and fit for the future, the HKSAR Government will explore concrete initiatives to drive the development of a “Smart Port” in collaboration with the industry.

Even though the COVID-19 pandemic particularly hit Hong Kong’s aviation industry, Hong Kong’s status as an international aviation centre will be enhanced and remain competitive. To this end, Hong Kong will establish an aviation industrial cluster in Zhuhai in southern China that deals with aircraft maintenance, parts manufacturing and research on aircraft engineering.

In terms of green transport, the Chief Executive reiterated her pledge to cease the new registration of fuel-propelled and hybrid private cars in 2035 or earlier and install more electric-car charging facilities. Local authorities will also work with bus companies to conduct trials of hydrogen-fuel-cell buses to formulate a specific roadmap and timetable for using new energy public transport in 2025.

The Policy Address demonstrates that Hong Kong is back in business and can play its full role in national development.

Full details of the Chief Executive’s 2021 Policy Address can be found here.