Hong Kong’s Chief Executive John Lee—on the same day he announced the Five-Year Plan, also unveiled Hong Kong’s annual Policy Address.

The new Policy Address as a whole has concrete and pragmatic deployments in innovation and technology, the economy, people’s livelihoods, and regional development, which is encouraging; however, given the challenge of a declining birth rate, there is still room for improvement in attempts to deal with the baby shortage. We’ll get back to that.

As mentioned above, an AI city brain will make city’s operational systems smarter. But we also like solid, tangible developments, and the policy address featured five:

– Establishment of an International Gold Trading Market;

– Founding of a Maritime Academy;

– Launching of the Hong Kong Intellectual Property Academy;

– Boosting of the International Legal Talent Training Academy; and

– Establishing of the Hong Kong International Police Academy.

These will further consolidate Hong Kong’s leading international position in finance, law, and professional training, and increasing its substantial contributions to the international community.

As a tennis enthusiast, I am very pleased with the Policy Address’s measures supporting the development of culture, sports, and tourism, especially the study on redeveloping Victoria Park Tennis Court into an all-weather, multi-purpose venue.  

This not only optimizes local sports infrastructure but also lays a solid foundation for Hong Kong to host more international events and competitions in the future.

Now a criticism: The measures proposed to promote fertility policies remain insufficient. Faced with the severe challenges of an aging population and a declining birth rate, current incentives may not be enough to comprehensively reverse citizens’ willingness to have children.

It is suggested that the government consider more groundbreaking financial subsidies, and more comprehensive workplace childcare support. New housing priority policies to further increase efforts to truly encourage citizens to have children can be implemented to supplement a long-term demographic dividend for Hong Kong.

Still, that criticism aside, overall we would say that this is a Policy Address that balances Hong Kong’s international competitiveness with the well-being of local residents.