The Chief Executive’s, John Lee Ka-chiu, annual policy address painted a bright future for Hong Kong with his opening remarks concentrating on the Northern Metropolis development and advancement of artificial intelligence (AI).
His address was very bullish despite the world being in a state of turmoil due to the on-off-on policies of the US administration. But undaunted, Lee closed his speech with “the Pearl of the Orient will keep shining brighter than ever before.”
Hong Kong has achieved many accolades for its accomplishments in 2024 and Lee is determined that the city will not sit on its laurels and will move forward with even more ambitious plans for the years ahead.
In his eyes the future for Hong Kong lies in artificial intelligence which will come with the development of the Northen Metropolis along the boundary with Shenzhen. He appears to have been concerned by the progress of the development and has set up a series of initiatives to speed up progress. The plan is massive with the land area and planned population intake accounting for about one-third of Hong Kong’s total.
He plans to set up a working group on devising development and operation models, and another on planning and construction of the proposed university town in Hung Shui Kiu (near Yuen Long) next year. Another site available will be in Ngau Tam Mei in 2028 which can dovetail with the overall I&T development of the San Tin Technopole and life and health technology industries. It will also be used for joint development with a third medical school and an integrated medical teaching and research hospital.
The overall project will be under a committee on development of the Northern Metropolis chaired personally by the CE while the two working groups will be led by the Financial Secretary, the Chief Secretary for Administration respectively. A third working group on planning and development will be led by the Deputy Financial Secretary.
He also plans to remove barriers and ease restrictions to streamline administrative procedures by introducing a fast track processing system and implementing a phased development approach. This will include pilot low-density facilities, such as retail, entertainment and convention and exhibition facilities to be developed initially to attract businesses, by bringing income to the area to create momentum before long-term development is rolled out.
Straddling the Shenzhen River (the boundary between Hong Kong and the mainland) is the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone comprising the Shenzhen Park and the Hong Kong Park. The two parks will promote collaboration in the development of I&T. Three buildings in the Hong Kong Park have been completed and tenants from life and health technology, microelectronics, new energy, AI and other pillar industries are gradually moving in.
Lee said that AI is the key driving force of a new round of scientific and technological revolution, as well as industrial transformation. “With our advantages in scientific research, capital, data and talent, together with abundant use cases, Hong Kong is poised to become a global hub for AI development,” he said.
The government has earmarked HK$1 billion for the establishment of the Hong Kong AI Research and Development (R&D) Institute in 2026, to facilitate upstream AI R&D. Earlier, the Government launched the $3 billion Frontier Technology Research Support Scheme which will help fund universities to attract international top-notch scientific researchers in AI.
Lee highlighted the many advantages of AI as well as its efforts to nurture local and attract overseas and Mainland AI professionals. These include setting up the AIR@InnoHK research cluster that has pooled over a thousand experts. And, combined with nearly a thousand AI companies that have gathered in our I&T parks, this helps enhance our AI R&D capabilities and lay the foundations for wide-ranging AI applications.
AI is everywhere in today’s modern world and to further enhance the efficacy of the Government, he has set up an AI Efficacy Enhancement Team to coordinate and steer government departments to apply AI technology effectively to their work and promote technological reform in departments to improve efficacy.
The CE’s address was long (two hours and 40-minutes) and very detailed but covered every aspect of life in Hong Kong. It was all good news and when all policies are implemented Hong Kong will maintain its position on the top rung of superlatives.
Mark Pinkstone
** The blog article is the sole responsibility of the author and does not represent the position of our company. **
