Livelihoods
Hong Kong's Chief Executive John Lee has pledged in his New Year's speech to improve livelihoods, accelerate public housing projects, and bolster innovation and technology development in alignment with China's 15th five-year plan. He described 2025 as a year of challenges that demonstrated perseverance. The speech was uploaded to his social media account on Wednesday night.
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Srinagar, often called paradise on earth, is grappling with weakening traditional sectors like horticulture, tourism, and artisan trades following the 2019 dilution of Article 370. Ecological vulnerabilities, supply chain disruptions, and high unemployment have intensified economic fragility in the city. Governance shifts and capital-heavy development models are displacing local economies without providing sustainable alternatives.