Hong Kong Chief Executive John Lee to Present Upcoming Policy Address

Upcoming Policy Address by Hong Kong Chief Executive John Lee

On November 16, 2023, Hong Kong Chief Executive John Lee is set to deliver his third Policy Address. As the region aims for progressive development amidst changing global dynamics, this upcoming address serves as a crucial moment for outlining the government's strategic direction.

PwC's Three-Pronged Strategic Approach

PricewaterhouseCoopers (PwC) has provided a preview of what to expect from the Policy Address, recommending a comprehensive three-pronged strategy for the Hong Kong government:

• Rebuilding Confidence in the Capital Market: Fostering investor trust is essential for reviving the capital markets.
• Enhancing Attractiveness for Investment and Talent Acquisition: Making Hong Kong more appealing to both local and foreign investors and skilled professionals is crucial.
• Seizing Opportunities in the Digital Economy: The digital landscape continues to evolve, and leveraging this can significantly boost Hong Kong's competitiveness.

Focus on Global Competitiveness and Financial Resilience

These strategic recommendations aim to comprehensively enhance Hong Kong's global competitiveness and financial resilience, ensuring that the region remains a key player on the international stage.

Positioning Hong Kong as a Pioneer in Innovation

In a world characterized by rapid technological advancement, PwC emphasizes the importance of positioning Hong Kong as a leader in smart city development and digital innovation.

Key Components for Optimizing Digital Economy Opportunities

To capitalize on opportunities within the digital economy, two key components are essential:

1. Development of Robust Digital and Virtual Asset Platforms: Hong Kong should invest in creating secure and efficient platforms that foster innovation and growth in digital assets.
2. Strengthening Digital Economy Infrastructure: Upgrading the digital infrastructure will facilitate smoother operations and encourage more businesses to engage in the digital economy.

Conclusion

As Hong Kong gears up for the upcoming Policy Address, the insights provided by PwC shed light on vital areas that could shape the city's future. By adopting a strategic focus on rebuilding confidence in the capital market, attracting investment and talent, and enhancing digital capabilities, Hong Kong can solidify its standing as a global financial hub.