Hong Kong leader vows to boost livelihoods and fast-track housing

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.

Hong Kong's Chief Executive John Lee Ka-chiu has vowed in his annual New Year's speech to prioritize improving livelihoods and expediting public housing construction while fostering growth in innovation and technology (I&T). Delivered and uploaded to social media on Wednesday night, the address reflects on 2025 as a year marked by challenges yet defined by perseverance.

Lee outlined two key objectives. The first focuses on enhancing livelihoods and well-being, including implementing a registration system for 'basic housing units' to replace poor-quality subdivided flats, bolstering healthcare and education resources, and offering more employment and entrepreneurship opportunities for youth.

The second objective is to strengthen I&T-driven development and align proactively with China's National 15th five-year plan, which spans 2026 to 2030. Keywords from the speech include Tai Po, Hong Kong-Shenzhen Innovation and Technology Park, Kai Tak Sports Park, Wang Fuk Court, public housing, Northern Metropolis, and East Kowloon Cultural Centre.

'We will focus on two key objectives. First, to enhance livelihoods and well-being, and to expedite the construction of public housing,' Lee said.

'Second, to strengthen I&T-driven development and proactively align with the National 15th five-year plan,' he added, referring to the national development plan for 2026 to 2030.

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Xi Jinping at podium delivering 2026 New Year address, with screen showing progress symbols.
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Xi Jinping delivers 2026 New Year message

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Chinese President Xi Jinping delivered his 2026 New Year message in Beijing on December 31, 2025, via China Media Group and the internet. He reviewed achievements from 2025 and outlined prospects for high-quality development in 2026.

Hong Kong's newly elected Legislative Council held its first meeting on January 15, led by president Starry Lee Wai-king, with Chief Executive John Lee outlining priorities for responding to the deadly Wang Fuk Court fire in Tai Po. Discussions centered on relief for displaced residents, rehousing, industry reforms, and anti-bid-rigging measures amid calls for accountability.

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Hong Kong's finance chief has expressed optimism about the city's economic outlook for 2026, while forecasting 2025 growth to accelerate to 3.2%, surpassing earlier projections. He attributed this positive outlook mainly to anticipated growth in mainland China and Asia, along with interest rate cuts.

South Korean Prime Minister Kim Min-seok stated on Friday that the government's focus for 2026 will be on fostering strategic industries, protecting lives from disasters, and promoting peace on the Korean Peninsula. He outlined these priorities during a ceremony marking the new year's first day of work at the government complex in Sejong, emphasizing pursuit under three key goals: an open government, one that listens to field voices, and a nation confident on the international stage.

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Guided by national five-year plans, the Hong Kong government is changing policies and offering attractive terms for the Northern Metropolis project. As the administration's major policy focus, it appears in the news almost every day and is shaping a new future for Hong Kong.

Following the deadly Wang Fuk Court fire, Hong Kong's Deputy Financial Secretary Michael Wong Wai-lun has outlined resettlement options, including building subsidised flats in Tai Po, while prioritising residents' input.

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Following the deadly November 26 Tai Po fire that killed 161 and displaced 5,000 at Wang Fuk Court, Hong Kong's Secretary for Development Bernadette Linn Hon-ho pledged stricter building safety laws, vowing no leniency for construction sector loopholes and government takeover of risky renovations.

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