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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Hong Kong Financial Secretary Paul Chan presents the 2026 budget at the Legislative Council, highlighting AI and infrastructure investments amid fiscal surplus charts and public criticism over no cash handouts.
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Hong Kong budget stresses long-term investments amid public criticism

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Hong Kong Financial Secretary Paul Chan unveiled the 2026 budget on Wednesday, emphasizing investments in artificial intelligence and infrastructure while facing criticism for the absence of direct cash handouts to residents. The budget projects a surplus and includes a rare transfer from the Exchange Fund.

Hong Kong’s leader has pledged to align the city with national strategies in China’s latest five-year plan and turn Beijing’s assigned “new positionings, functions and missions” into tangible outcomes to drive economic growth. Chief Executive John Lee Ka-chiu said he would lead the government in uniting society to proactively align with the 15th five-year plan, which sets China’s economic and social development targets for 2026 to 2030. His comments followed the approval of the plan’s outline by China’s top legislature.

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An opinion piece in the South China Morning Post suggests that Hong Kong's 2026-27 budget speech should clarify how the city's economic direction aligns with global and national trends, defining its place in future industries. It urges Financial Secretary Paul Chan Mo-po to explain the macroeconomic rationale behind Hong Kong's new industrial policy: large-scale investment in innovation and technology to broaden the economy.

At the opening of China's National People's Congress, Premier Li Qiang pledged to champion orderly multipolarism and inclusive globalisation. President Xi Jinping urged major provincial economies to lead in technological innovation and risk control. The government work report outlined priorities for the economy, innovation and military this year.

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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 Finance chief Paul Chan says the city will channel capital and innovation into the global green transition for carbon-neutral development. Speaking at a symposium on low-carbon transition and sustainable development, he highlighted Hong Kong's role in green finance and technology.

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Hong Kong's finance chief Paul Chan has confirmed an early operating account surplus, driven by strong financial markets, and vowed more support for the elderly. Speaking at a public forum, he addressed welfare demands while noting that social spending was not cut despite last year's deficit.

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