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| November, 2020 |
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The Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mrs Carrie Lam, delivered her annual Policy Address on 25 November with measures to support Hong Kong to strive ahead with renewed perseverance, following last year’s social unrest and amid the ongoing global COVID-19 pandemic. The Chief Executive said that the Central Government had illustrated its unwavering determination in upholding the “One Country, Two Systems” principle and the Policy Address seeks to restore Hong Kong’s constitutional order, consolidate and enhance Hong Kong’s strengths and diversify its economic development, and build on our past efforts to continue to improve people’s well-being, with a view to resolving our immediate and long-term social problems. |
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The 2020 Policy Address covered the chapters of “Full support of the Central Government”, “Upholding ‘One Country, Two Systems’”, “Navigating through the epidemic”, “New impetus to the economy”, “Increasing housing and land”, “Building a liveable city,” “Continuously improving people’s livelihood” and “Nurturing Talents and youth development”. It revealed wide-ranging strategies to make full use of the city’s advantages under the “One Country, Two Systems” principle, reboot Hong Kong’s economy, create new opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and further promote innovation and technology (I&T). |
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Mrs Lam said that the Government would continue to support the consolidation and enhancement of the city’s role as a global financial centre. She also announced a new “bright spot” regarding mutual access between Hong Kong and Mainland financial markets. Mrs Lam said that the Central Government has agreed to include pre-profit biotechnology companies listed in Hong Kong under the new listing regime and stocks listed on the Mainland Sci-Tech Innovation Board meeting certain prescribed criteria into the stock universe of the mutual market access programmes. |
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To help develop growth opportunities overseas, Mrs Lam said Hong Kong would consolidate its position as the “prime platform and a key link” for the Belt and Road Initiative. Mrs Lam also expressed full confidence in Hong Kong’s role as an international aviation hub. She outlined major upcoming developments, including the commissioning of a third runway at Hong Kong International Airport in 2022 and the SKYCITY development projects to be completed in phases in the next few years. |
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Mrs Lam highlighted growing I&T collaboration with Shenzhen, including developing the Shenzhen/Hong Kong Innovation and Technology Co-operation Zone, comprising the Shenzhen Innovation and Technology Zone and the Hong Kong-Shenzhen Innovation and Technology Park at the Lok Ma Chau Loop. To attract more overseas I&T talent to Hong Kong, Mrs Lam proposed launching a Global STEM Professorship Scheme for a period of five years at an estimated cost of HK$2 billion (about AUD$350 million). |
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Please find the full document, supplement, highlights leaflets, and press releases of the 2020 Policy Address. |
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