Hong Kong doubles down on innovation and accountability for its future

In his most comprehensive policy address yet, Hong Kong Chief Executive John Lee Ka-chiu mapped out dozens of policy measures to boost Hong Kong’s hub economy, help small and medium enterprises, shore up the property market, promote tourism, develop new tech-based industries, raise fertility and train talent, just to name a few.

The first key reform concerns the development of the Northern Metropolis, an area comprising almost a third of Hong Kong’s total area. Providing land for the development of two tech parks near Shenzhen, Guangdong province – China’s renowned innovation hub – the Northern Metropolis is intended to be a hub for innovation and the growth of technology-based industries that will transform and enhance Hong Kong’s economy. However, if existing developmental procedures persist, it could take decades and cost trillions for the project to come to fruition.