For Immediate Release
The Hong Kong General Chamber of Commerce (HKGCC) welcomes Chief Executive John Lee’s fourth Policy Address today, which outlines a forward-looking blueprint to enhance Hong Kong’s competitiveness, stimulate economic growth and improve livelihoods.
“The Chief Executive’s focus on accelerating new industries such as AI and new energy, alongside bolstering Hong Kong’s strengths as an international hub for finance, trade, shipping and aviation, sends a strong signal to global investors,” said HKGCC Chairman Agnes Chan. “These policies will diversify our economy and reinforce Hong Kong’s role as an international hub for business, innovation and talent.”
Fast-tracking Northern Metropolis and Technology & Talent Development
The Chamber is pleased that many of the proposals in its Policy Submission have been adopted, particularly the accelerated development of the Northern Metropolis to promote long-term economic growth and regional integration. The creation of a high-level committee to oversee and expedite the project, including industry parks, university town planning and infrastructure coordination, reflects a strategic, action-oriented approach.
Among the key innovation and technology measures, a HK$3 billion injection into the Frontier Technology Research Support Scheme will attract top-tier researchers, supported by HK$1 billion to establish the Hong Kong AI Research and Development Institute, accelerating R&D and commercialization of AI applications. New policies to boost IP trading and financing will help strengthen our role as a global innovation hub and allow tech firms to leverage intellectual property for funding. Furthermore, developing the low-altitude economy through updated aviation regulations and a drone ecosystem will position it at the forefront of smart city development.
Providing HK$40 million for the city’s eight funded universities and promoting the “Study in Hong Kong” brand will expand our talent pool while building the city into a global education hub.
Support for SMEs and F&B Sectors
Among the 11 measures announced for SMEs, the Chamber is glad to see its proposal to extend the application period for the 80% Guarantee Product under the SME Financing Guarantee Scheme by two years, as well as extending the principal moratorium arrangement for one year. Additionally, earmarking HK$1.43 billion for the BUD Fund and the launch of a new “Economic and Trade Express” will help local businesses expand globally. Easing restaurant licencing and approval procedures for outdoor seating, while leveraging the lucrative pet economy, will help struggling retail and F&B businesses emerge from the current slump.
Enhancing Hong Kong’s International Status
Establishing new Economic and Trade Offices in Kuala Lumpur, Latin America and Central Asia, coupled with investment agreements with emerging markets, will significantly extend Hong Kong’s reach in global trade.
The address also lays out a clear path to strengthen Hong Kong’s status as a leading financial centre, with strategies to deepen equity and bond markets, expand fintech and green finance, and develop new growth areas such as gold trading and tokenized assets. Enhancements to the New Capital Investment Entrant Scheme and preferential tax regimes for funds and family offices will attract global capital and high-net-worth individuals, boosting market liquidity and strengthening Hong Kong’s role as a wealth management hub. The Chamber also lauds the decision to host the headquarters of the International Organization for Mediation, emphasizing the city’s status as a global legal and dispute resolution centre.
Revitalizing Tourism and Promoting Trade
Fresh tourism policies – including developing a yacht economy, commissioning the WestK Quay by the year-end and establishing the WestK Academy – aim to position Hong Kong as a premium destination. Measures such as enhancing major events, revitalizing cruise tourism and attracting more Muslim and ASEAN visitors through expanded Halal dining options and customized experiences will improve the overall visitor experience, supported by a new contactless immigration system using facial recognition to simplify entry procedures.
Enhancing digital trade with a new digital port system linking sea, land and air transport, and streamlined vessel registration, will improve efficiency and lower costs.
Embracing Sustainability
The Chamber also welcomes the emphasis given to building a green and sustainable city, a key element of its submission. Decisive steps to promote sustainable aviation fuel, hydrogen energy and EV battery recycling will improve our environment and accelerate infrastructure development. Expanding carbon trading platforms and collaboration with the Greater Bay Area (GBA) will further position Hong Kong as a regional leader in sustainable finance and environmental innovation. These efforts to deepen GBA integration include logistics corridor development and talent mobility schemes. Establishing a one-stop platform and the GoGlobal Task Force will further support Mainland enterprises expanding overseas, leveraging Hong Kong’s strengths in finance, logistics and professional services.
The Chamber backs the Chief Executive’s comprehensive strategy as a robust foundation for sustainable development and stands ready to actively partner with all stakeholders in building a more resilient, innovative and prosperous future for Hong Kong.
Media inquiries: Please contact Ms Ally Wan at 2823-1266 / ally@chamber.org.hk