Hong Kong's Bold Vision: Revamping Economy and Ensuring National Security

John Lee, Hong Kong leader, in his third annual policy address, promised reforms aimed at livelihood issues and boosting Hong Kong's global influence. Key reforms include developing an international gold trading market, enhancing maritime services, and promoting green bonds, alongside advancing national security protocols and public housing supply.

Hong Kong leader John Lee, in his third annual policy address on Wednesday, outlined significant reforms targeting livelihood issues while aiming to strengthen the city's position as a global hub.

Focused primarily on deepening economic reform, Lee's plan encompasses developing an international gold trading market, fostering high value-added maritime services, and establishing a commodities trading ecosystem alongside internationally-accredited metal warehouses. Additionally, a working group has been formed to explore the low-altitude economy.

Efforts will also be directed towards streamlining procedures for companies striving to list on Hong Kong's stock exchange, boosting international listings, and enhancing the fixed income market infrastructure, especially with renminbi bonds. On the political front, Lee emphasised the importance of national security, mandating civil servants to comply with national security laws and promising collaborative civil service exchange programmes with Mainland cities.

(With inputs from agencies.)