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Hong Kong's 2024 Policy Address: Boosting Economic Growth and Innovation
The 2024 Policy Address by Hong Kong SAR Chief Executive John Lee focuses on promoting high-quality economic growth. Key initiatives include the establishment of the third InnoHK research cluster, which targets advanced manufacturing and sustainable development. A notable project involves participation in the Chang'E-8 space mission, enhancing aerospace advancement.
The government plans to boost investment in innovation and technology (I&T) with a HK$10 billion I&T Industry-Oriented Fund and the launch of an I&T Accelerator Pilot Scheme. Additionally, to contribute to environmental goals, HK$750 million is allocated to support electric vehicle adoption in public transport.
Efforts to position Hong Kong as a health and medical innovation hub are underway, alongside reforms to talent admission mechanisms, including extending visa validity for high-income professionals. The Northern Metropolis development is seen as a new economic catalyst.
R. H.
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