HONG KONG Chief Executive John Lee Ka-chiu vowed yesterday to seek innovative ways to achieve greater prosperity for the city, following directions outlined by President Xi Jinping.

Last Friday, Lee reported on Hong Kong’s situation and the HKSAR government’s work to Xi during his duty visit to Beijing.

He said that the president fully recognized the SAR government’s work during the past year and reiterated the central government’s determination to uphold the “one country, two systems” principle.

Acknowledging that the SAR is in a favorable position for stable development, Xi called for proactive reform for the city to better align with national strategies and foster new economic momentum.

Under Xi’s guidance, Lee pledged to boost Hong Kong’s economic growth with a range of innovative approaches.

He mentioned that the Policy Address has received wide recognition from society,

highlighting measures to unleash the SAR’s advantages, such as building Hong Kong into an international hub for high-caliber talents, expanding economic and trade networks with Belt and Road countries, and building an international gold trading market.

He also outlined major achievements of his administration over the past 2.5 years, including the city’s rise in global rankings in the areas of finance and talent. He said he believes these results demonstrate the SAR’s correct policy direction and international society’s confidence in the city.

On attracting talent and enterprises, the number of overseas or Chinese mainland companies with offices in Hong Kong rose to 9,960 in 2024, a 10 percent increase from last year. The Office for Attracting Strategic Enterprises has successfully introduced 66 key enterprise offices, nearly half of which are industry-leading giants, Lee said.

With the assistance of Invest Hong Kong, the number of mainland or overseas companies that established or expanded operations in Hong Kong reached 535 during the first 11 months in 2024, which is 1.5 times the number in the same period last year, surpassing the target set in 2022, he added.                                                      

Xinhua