Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
HONG KONG, Sept. 18 (Xinhua) — Hong Kong Special Administrative Region (HSAR) Chief Executive Li Jiachao on Wednesday delivered his fourth work report, vowing to make improving people's livelihood the "ultimate goal" of the HSAR administration's work.
The nearly three-hour-long report, titled “Deepening Reforms to Improve People’s Livelihoods, Leveraging the Benefits to Jointly Create a Brighter Future,” was the result of three months of preparation and more than 40 consultation meetings.
In his report outlining the Hong Kong administration's strategic priorities for the coming year, Li Jiachao outlined a series of initiatives aimed at stimulating the economy and improving the quality of life of residents. Key measures include plans to create an international gold trading market, accelerate the development of the "Northern Megacity," strengthen Hong Kong's status as an international hub, and foster a more inclusive society.
The main point of his report was the announcement of the creation of a Committee for the Development of the “Northern Megapolis” under the leadership of the head of the SARS administration himself.
"The Northern Megacity Zone, which borders Shenzhen and covers one-third of Hong Kong's land area and population, is of strategic importance to the development of the SAR," Li Jiachao said in his report, adding that the zone has significant economic value and development potential.
Li Jiachao said the committee, which will include three working groups, will focus on streamlining administrative processes and eliminating unnecessary barriers and restrictions.
To accelerate the development of the "Northern Megacity," a special set of laws will be adopted that will empower the Hong Kong Special Administrative Region government to develop simplified legislative procedures on a number of issues, he added.
In an effort to stimulate the region's economic growth, Hong Kong authorities are stepping up the development of artificial intelligence (AI) and data processing industries. Li Jiachao detailed plans to promote the broad and deep integration of AI across various sectors, targeting both "industries for AI" and "AI for industries."
To promote scientific research and attract qualified personnel, the Hong Kong Special Administrative Region (HKSAR) government has allocated HK$1 billion (approximately US$128.62 million) to establish the Hong Kong Institute of Artificial Intelligence (HKI) in 2026, Li Jiachao said.
He also noted that Hong Kong, taking advantage of its advantages under the "One Country, Two Systems" policy, will promote the early establishment of a data exchange mechanism with China's interior for scientific research purposes and support the testing of artificial intelligence applications and innovation.
The use of AI will also be expanded. The Hong Kong Special Administrative Region (HKSAR) will establish an AI Effectiveness Enhancement Group to coordinate and guide departments across the administration to effectively utilize AI technologies in their work, explore process reorganization, and advance technological reforms within departments, Li Jiachao announced.
He also outlined plans to accelerate the development of new growth areas to strengthen Hong Kong's position as an international financial centre, including the creation of an international gold trading market.
In addition, Li Jiachao said the HKSAR will, through the technology enterprise pipeline, help companies from the Chinese mainland finance their investments in Hong Kong, strengthening financial support for the country's development into a leading global power in science and technology.
He also announced initiatives to improve schemes for attracting new investors, attracting qualified personnel and new capital, as well as strengthening the asset and property management sector.
The key chapter of the report was devoted to public welfare, reflecting Li Jiachao's priority. He announced a series of initiatives aimed at improving the quality of life of local residents, with a focus on education, employment, poverty alleviation, and family support.
"Improving people's living conditions is my ultimate political goal. The economy and the population's well-being complement each other," he emphasized.
To expand educational opportunities, Hong Kong universities will be allowed to admit non-resident students on a fee-paying basis starting from the 2026/27 academic year, where they will be able to take up to 50 percent of the places for local students, Li Jiachao announced in a report.
The current cap on non-resident student admission is 40% of the number of places available for local students. At the same time, the overcapacity ceiling for self-funded places in funded postgraduate research programs will be increased from 100% to 120%, he added.
To attract more international talent and students, the Hong Kong Special Administrative Region's Department of Education will establish a City-based Training Task Force. These measures aim to promote Hong Kong's high-quality resources in areas such as academic education, scientific research, and international cooperation.
Li Jiachao emphasized the government's focus on increasing local employment, strengthening labor protections, including protecting digital platform workers, and improving occupational safety and health.
The Hong Kong Special Administrative Region (HKSAR) government has agreed to a new formula mechanism for the annual review of the statutory minimum wage (MW), proposed by the Minimum Wage Commission. The first minimum wage determined under the new mechanism is expected to be implemented on May 1, 2026, Li Jiachao announced.
In its poverty alleviation plan, the Hong Kong Special Administrative Region (HKSAR) government will continue to pursue a targeted approach, directing resources to areas where needs are greatest. Key measures include allocating HK$180 million (approximately US$23.14 million) to the Children's Development Fund to continue implementing projects that support the long-term development of high school students from vulnerable backgrounds.
As part of a multi-pronged policy approach to boosting the birth rate, the Hong Kong government will implement additional measures, including extending the supplementary allowance for newborns from 1 year to 2 years, and further improving daycare services for infants and children.
Other measures to improve living conditions include increasing the supply of housing, improving care for the elderly and supporting people undergoing rehabilitation.
In the area of international cooperation, Li Jiachao announced plans to establish a task force aimed at helping inland enterprises enter overseas markets.
The SAR government will also create a comprehensive platform, mobilizing Hong Kong's representative offices in the domestic and international markets to encourage domestic businesses to use Hong Kong to expand their overseas operations. Among the measures to be adopted are encouraging banks to establish regional headquarters and encouraging domestic businesses to establish corporate treasury centers in Hong Kong, Li Jiachao stated.
Regarding global governance, he promised to fully support the work of the International Mediation Organization (IOM). The SAR government will organize international conferences, professional training, internships, and other programs to help Hong Kong youth and lawyers work with the IOM and thereby develop more specialists in the field of international mediation for Hong Kong. -0-
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