Blog

Hope for the Future

On this Christmas Day, may I wish you and your family and friends a joyful and relaxing holiday with peace and bliss!

Speaking of our wishes for the future, I met with nearly 100 secondary students last week. Apart from listening to their views about the upcoming Budget as well as their suggestions on allocation of public resources, I hoped to learn more about our young people’s thoughts and expectations for Hong Kong’s future.

I met nearly 100 secondary students last week to gauge their views on the upcoming Budget.

"How should we paint this picture?" This is the question I have raised in the Announcement of Public Interest on the public consultation for the upcoming Budget. During the meeting, the students were asked to express through painting their own expectations for the future of Hong Kong. I was truly touched by the pictures they painted: some showing concerns over the wealth gap in the community and hoping that the underprivileged would receive better care and support; some longing to see greater diversity, inclusiveness and love in our society; and some hoping that greater efforts be made by Hong Kong in environmental protection and decarbonisation to contribute to the mitigation of the impact of global climate change. Each painting, so to speak, carries a wish; when all of these paintings are put together, they portray our common vision and goals which we should work together to realise and achieve.

Having gone through the ups and downs in 2022, we will definitely cherish the hard-earned momentum of steady recovery. With social sentiment turning positive and optimistic, we have great expectations for the coming year. As a matter of fact, viewing Hong Kong from various perspectives, I am highly confident about its future.

First of all, with the concerted efforts of the Government and different sectors in society, Hong Kong has gathered pace on its road to normalcy in this quarter. The successful hosting of various mega events, including the Global Financial Leaders’ Investment Summit and the Hong Kong Sevens, has displayed Hong Kong’s vibrancy and huge potential, making it the centre of attention again in the international arena. In fact, the top management of a number of international financial institutions has expressed full confidence in the future of Hong Kong after the Global Financial Leaders’ Investment Summit, citing that Hong Kong’s unique role enabled us to leverage support from its motherland while enjoying close connection with the world as well as opportunities offered by the Guangdong-Hong Kong-Macao Greater Bay Area. Some of them are actually planning to expand their operations in Hong Kong by sending more top management personnel to the city and recruiting more local staff here.

Embracing a new mindset in governance, which is characterised by active planning and a proactive attitude, the current-term Government has broken new ground for Hong Kong through better integration of a capable government and an efficient market to foster and expedite the development of a diversified economy. For instance, on “competing for enterprises” and “competing for talents”, we have introduced quite a number of out-of-the-box and ambitious measures, such as establishing the Office for Attracting Strategic Enterprises and the Co-Investment Fund, setting up the Talents Service Unit and forming the Dedicated Teams for Attracting Businesses and Talents in the Mainland and overseas offices. These measures have received overwhelming response since their announcement in the Policy Address in October. Numerous enquiries and requests for meeting were received in this regard. Some of them were from top-notch enterprises in major industries, while some came from smaller-sized enterprises engaging in cutting-edge technologies. These enterprises are actively considering establishing operations in Hong Kong.

Earlier on, we issued a policy statement on the development of virtual assets in Hong Kong and a development roadmap for the insurance sector in Hong Kong. Enthusiastic response was also received from the industries, and quite a number of companies are planning to set up business in Hong Kong. They have casted their votes of confidence in the future of Hong Kong by making actual investment here.

In order to attract enterprises, investment and talents in a more efficient and effective manner, we are stepping up our external promotion work by publicising the unique advantages of Hong Kong and the opportunities offered in the city. In the past two months, I visited the Middle East and Indonesia to introduce to the local political and business communities Hong Kong’s latest development and potential while establishing more connections and friendships with local counterparts. Coincidentally, the governments and enterprises of these countries are very interested in developing their infrastructure and economies by leveraging the advantages of Hong Kong as an international financial centre and are eager to explore further with us room for co-operation. We will continue to strengthen external promotion of Hong Kong in the coming year.

There is one thing I can be certain about: Hong Kong has a bright and promising future. That said, we should remain cautious about the inevitable fluctuations in the course of economic recovery, and be ready to provide adequate care and support for those, particularly the underprivileged, who may still be living under greater pressure. Nevertheless, given the need to maintain sustainability of public finance in the light of limited public resources, we should strike a balance among the needs of different sectors. We, therefore, welcome any views and suggestions for the upcoming Budget.

In less than a week, we will bid farewell to the turbulent year of 2022. As pointed out by President Xi Jinping, Hong Kong will see abundant opportunities and broad prospects in the new era while embarking on a new journey. Heading towards 2023, I wish that Hong Kong will take on a new look and achieve new progress. May I wish you every success and happiness in the days to come!

December 25, 2022