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The National Two Sessions currently taking place in Beijing have attracted significant attention. Despite the multiple challenges in a complex external environment, the Mainland’s economy has moved forward steadily, and high-quality development has continued to progress. Last year, the Mainland registered an economic growth of 5%, with its gross domestic product (GDP) reaching RMB135 trillion. Notably, technological innovation and its applications have gradually become the core driving forces of our country’s economic growth. The value added output of the core industries in the digital economy accounted for around 10% of GDP. Moreover, the added value of the “Three New” economy – namely new industries, new business models and new business formats – rose to over 18% of GDP. These indicators fully reflect the steady growth and solid momentum of our country’s economy.

Last week, I delivered the 2025-26 Budget, in which I highlighted the need for Hong Kong to lead its future development through reform and innovation. Central to this vision is the strategic use of artificial intelligence (AI) to accelerate the development of new quality productive forces. We must strive to establish AI as a core industry to empower the transformation of traditional sectors.

The Budget for the 2025/26 financial year will be delivered this Wednesday. Thank you all for sharing your valuable insights and suggestions for the Budget over the past period.