Chief Executive John Lee Ka-chiu is doubling down on wide-ranging reforms aimed at improving the economy and people’s livelihood. His determination to overcome the prevailing difficulties and build a brighter future under the national development framework is a positive response to the aspirations of the public and the country.
But the challenging geopolitical environment and slower-than-expected economic recovery mean many of these new measures may take a while to show results.
The midterm annual blueprint by the Hong Kong leader is heavy on economic initiatives. This is not surprising, as the need for repositioning the city in the wake of China’s economic reform and deepening international conflicts has become even more important.
Some of his new undertakings stretch beyond the coming year, so implementation will take time.
Lee also did not lose sight of his commitment to improving people’s livelihood in the near and longer term. From consolidating our institutional strengths and developing new quality productive forces to tackling the scourge of subdivided flats and building a more caring society, the relatively short 2½-hour speech was arguably no less comprehensive than his record-long address last year.
