Talent, tourists, new hubs: John Lee lays out ambitious HK revival plan

Given the myriad priority areas, analysts wonder if his economic measures lack focus

- Magdalene Fung

If there was one thing Chief Executive John Lee made abundantly clear in his annual policy address on Oct 16, it was the urgency of finding big new ways to inject fresh impetus into Hong Kong's struggling economy.

Ahead of his speech, Mr Lee had promised that the economy would be at the centre of his 2024 policy address, "so as to let our people enjoy better lives".

He kept his word. The third annual speech in his five-year term was firmly focused on deepening economic reforms and exploring new growth areas in the city.

"In the reform process, we have to decide what should be built from scratch, what should be overhauled to set things right, and what should be consolidated and bolstered," Mr Lee said in his 212-hour-long speech. "In taking forward reforms, we must have a systemic mindset.".

However, analysts interviewed by The Straits Times wondered if the government, in announcing its more than a dozen major initiatives, had carefully considered what levers it needed to pull in order to turn things around.

Mr Lee's ambitious blueprint for Hong Kong has wide-ranging plans to bring in fresh talent, boost tourism, strengthen trade and build ecosystems for new hubs in various industries.

They include:

(i) Introducing new scholarships, expanding a talent scheme, and easing some visa rules to attract more high-quality students and professionals, particularly from Asean and Belt and Road countries, to study and work in the city.

(ii) Instituting Muslim-friendly facilities and service information in Arabic, scrapping arrival and departure cards for international visitors, developing "yacht tourism" and the arts scene, and pursuing both "quality and quantity" in hosting mega events to draw more tourists to the city.