2025 Policy Address - Major Highlights
The Chief Executive, Mr John Lee, yesterday (September 17) delivered his fourth annual Policy Address entitled “Deepening Reforms for Our People Leveraging Our Strengths for a Brighter Future”.
Major highlights
Strengthen governance systems
- Establish the Heads of Department (HoD) Accountability System for civil servants
- Study developing more rigorous performance appraisal system
- Set up Artificial Intelligence (AI) Efficacy Enhancement Team to support government departments in applying technologies such as AI to promote reforms and efficacy
Accelerate the development of the Northern Metropolis
- Establish Committee on Development of the Northern Metropolis chaired by the Chief Executive to raise level of decision-making, under which:
set up Working Group on Devising Development and Operation Models
set up Working Group on Planning and Construction of the University Town
set up Working Group on Planning and Development
- Streamline the administrative workflows with new mindset
- Introduce dedicated legislation to empower the Government to devise simplified statutory procedures for accelerating the development of the Northern Metropolis
Foster industry development and reform
- Formulate preferential packages to attract enterprises to set up in Hong Kong
- Attract an aircraft recycling enterprise and train relevant talents
- Attract more top international and Mainland pharmaceutical companies to Hong Kong
- Promote the development of the life and health technology industry
- Set up Hong Kong Centre for Medical Products Regulation
- Promote the development of the AI and data science industries, and expand the application of the AI in government services and business operations
- Promote the development of a low-altitude economy ecosystem
Consolidate our strengths, integrate into overall national development
International Financial Centre
- Strengthen the stock market by exploring shortening the stock settlement cycle to T+1, support “homecoming” of China Concept Stocks; include RMB trading counter under Stock Connect Southbound trading
- Expedite the building of an international gold trading market: establish central clearing system for gold, establish gold storage facilities, develop new products such as tokenised gold
- Introduce a new RMB Business Facility supporting use of RMB in real economy
- Lower the transaction price threshold for residential property investment of the New Capital Investment Entrant Scheme from HK$50 million to HK$30 million
International Trade Centre
- Explore the signing of new investment agreements with Saudi Arabia, Bangladesh, Egypt and Peru
- Establish an Economic and Trade Office (ETO) in Kuala Lumpur and expand the ETO coverage to Latin America and Central Asia
- Promote digitalisation of trade
International Shipping Centre
- Establish a “rail-sea-land-river” transport network to promote cargo transport between Mainland and overseas markets through Hong Kong
- Drive the development of high value-added maritime services
International Aviation Hub
- Expand the Airport City development
take forward the construction works of AsiaWorld-Expo Phase 2
develop yacht bay and its ancillary facilities
establish an art industry ecosystem at the airport
- Move ahead with construction of the Hong Kong International Airport Dongguan Logistics Park in phases
Promote integrated development of education, technology and talents
- Increase number of places for non-local self-financing students to study in HK
- Set aside HK$2 billion in the Quality Education Fund to support digital education
- Expedite development of the third InnoHK research cluster, with the focus on sustainable development, energy, advanced manufacturing and materials
Integrated development of culture, sports and tourism
- Develop a premium arts trading hub
- Establish the WestK Academy to provide professional training
- Develop prime destination for yacht economy including new facilities, relaxing requirements for visiting yachts, improving immigration clearance procedures
- Encourage restaurant Halal certification to promote Muslim tourism
- Conclude a multi-year partnership arrangement with LIV Golf tour
Support small and medium enterprises (SMEs)
- Extend the application period for the 80% Guarantee Products under the SME Financing Guarantee Scheme for two years
- Streamline the restaurant licensing regime and expedite approval process for outside seating accommodation of restaurants
- Inject HK$1.43 billion into the BUD Fund and expand its geographical scope
- Set up the “Economic and Trade Express” to assist local SMEs in exploring business opportunities overseas
- Promote a pet-friendly business environment
Housing supply
- Overall public housing production in the next five years to reach 189 000 units, about 80% higher than the figure at the start of the current-term Government
- Complete 30 000 Light Public Housing units by the first half of 2027, with the Composite Waiting Time for Subsidised Rental Housing moving closer to the target of 4.5 years in 2026-27
Promote social development for a caring and inclusive society
- Inject HK$180 million to the Child Development Fund to reduce inter-generational poverty
- Set up six additional Community Living Rooms
- To promote childbirth, claim period of additional child allowance for newborns to be extended by one year to cover the first two years following childbirth
- Set up 15 new aided child care centres to provide approximately 1 500 day care places for children aged between birth and three years old
- Increase the service quota for assisted reproductive services under the Hospital Authority to 1 500.
Full details are available from the Policy Address Website:
https://www.policyaddress.gov.hk/2025/en/policy.html
