Remarks by CE at media session before ExCo
Following are the remarks by the Chief Executive, Mr John Lee, at a media session before the Executive Council meeting today (April 21):
Reporter: Good morning, Chief Executive. First question on basketball betting: Is there a timetable to advance basketball betting following the review of the prediction market and whether such a policy U-turn implies a lack of thorough planning in policy making, and whether such a move is to align Beijing's efforts to crack down on gambling activities? And second question on Wang Fuk Court: Residents are returning home. Will the Government provide further flexibility and support, given that we see some cases of residents becoming unwell after climbing stairs, and how would the authorities follow up the suspected theft cases in the blocks and address the concerns of the residents? Thank you.
Chief Executive: The Government's established policy is not to encourage gambling. When the Government implements the Gambling Ordinance or its related policies, it is appropriate for the responsible bureau, which is the Home and Youth Affairs Bureau (HYAB), to regularly review the situation. If they have found risks they want to address so as to ensure that the risks will be properly mitigated, then it is important that they think thoroughly before they proceed further, so as to ensure that all these risks are properly controlled. I think that is a right approach, and it is also right to be cautious, because we never encourage gambling, and we will only do it if we, after assessing all the risks, consider it is really worth it; if we are not certain it is worth it, then it is better that we do not proceed before we are certain.
The rapid growth of the prediction market is really beyond anybody's expectation, if you look at it simply from the gambling point of view. But it is more than gambling; it is to do with a lot of speculation that sometimes makes use of virtual assets. We have to be very sure how it will impact the gambling scene in Hong Kong. The growth in two years - if you just look at the figures - is 130 times, and that is a very fast pace of growth. That pace is also growing. We will be seeing its market growing at such a scale that if we do not seriously look at the risks they will create, I do not think it is a right thing for the bureau to just blindly go ahead with what has been suggested. Also, the prediction market covers different kinds of activities, and statistics indicate that 40 per cent cover sports events. It is a worrying trend. I support the HYAB to seriously look at the risks and make sure that they address the risks appropriately before they proceed any further.
The other thing I have noted is the Hong Kong Jockey Club has been doing very well in offering legal gambling in areas such as horse racing, football betting and also Mark Six. They have been doing it very well and, at the same time, have been devoting a lot of resources to community and charitable activities. I recognise their contributions, and I recognise their efforts. I am confident that they will continue to run the existing legal gambling operations well and also remain fully committed to devoting resources to social and charity activities.
In regard to the arrangements that we are making for the families of Wang Fuk Court to go back to their houses to collect their belongings, particularly things that mean a lot to them, I think yesterday's arrangements went very smoothly. It was done in an orderly manner, and it was conducted without real issues, and it was conducted with several important principles in mind, which include safety, orderliness and compassion. I am very relieved to see that the 1 000 officials that we have deployed were all doing their job with full regard to the principles and considerations that I have mentioned, and they have voluntarily done a lot of extra things to ensure that the interests and conditions of the families who went up yesterday were well taken care of. I have heard from some who were involved in the arrangements, when they were interviewed by the media, by TV, that they actually considered the arrangements were helping them. I was also very relieved to know that some members indeed got what they had been hoping to find, and some even got some surprises, which was reassuring. We will continue to monitor the arrangements and, if there's anything we can do better, then of course we will consider them. Two things that we will do are, first of all, making the area for people to put on their gear larger, so that it will be less crowded and more convenient. The second thing: We will put up awnings in case it will be raining at some time. Any further arrangements that will help the people concerned, particularly from the angle of safety, orderliness and compassion, we will do our best to help.
Of course, people have to really consider their own conditions when they think of going back to their places, because there are no lifts; they indeed have to walk up high floors and staircases. They have to assess whether they can do it, and if they are really determined to do it, they have to do it in their own way. We are very willing to help, and we have arranged medical assistance at any time. We have also arranged for clinical psychologists to help anybody who thinks our services are needed. We do anything we can to ensure that things really meet the demands of the people involved.
Yes, there were several reports about property not being found. In fact, eight of them have been resolved, with four cases where the property was recovered, and another four in which the residents, after thinking more about it, considered that the property concerned might have been burnt. The remaining three will be investigated by the Police. Of course, they are very professional in this area; I will leave the investigation to them.
Today we will start the second day of the arrangements. I know that another 10 floors will be open for residents to go up to. They are higher floors. The first day was below the 10th floor. Now it's above the 10th floor. We will do our best to assist those who need our assistance, and we will be proactively offering our assistance wherever we can. Thank you.
(Please also refer to the Chinese portion of the remarks.)
The Chief Executive, Mr John Lee, Photo source: reference image
Speech by CE at Welcome Dinner for Global Prosperity Summit 2026 (with photos/video)
Following is the speech by the Chief Executive, Mr John Lee, at the Welcome Dinner for the Global Prosperity Summit 2026 today (May 18):
Vice President Han Zhiqiang (Vice President of the China Public Diplomacy Association), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), Mrs Regina Ip (Chairperson of Savantas Policy Institute and Convenor of the Non-official Members of the Executive Council), distinguished guests, ladies and gentlemen,
Good evening. It's a pleasure to join you, tonight, for the welcome dinner of the third Global Prosperity Summit.
This annual summit is dedicated to fostering cross-cultural dialogue and, in turn, advancing sustainable prosperity worldwide.
China, our country, certainly shares these goals.
The Global Governance Initiative, unveiled last year by President Xi Jinping at the "Shanghai Cooperation Organization Plus" Meeting, highlights the importance of abiding by international rule of law, practising true multilateralism, advocating a people-centred approach, and other principles in line with the United Nations Charter.
It adds to our country's Global Development Initiative, Global Security Initiative and Global Civilization Initiative. Together, they underscore China's commitment to building a community with a shared future for humanity.
As a special administrative region of China, Hong Kong upholds these important values, and endeavours to realise them. A champion of free trade and multilateralism, Hong Kong's doors have long been open – wide and welcoming to all.
In a world riddled with geopolitical and economic ruptures, Hong Kong stands out as an economy, and a society, built on stability, certainty and trust. Call them our natural resources, entrusted to us by the "one country, two systems" principle. And know that they are in great demand, because they instil confidence, encourage co-operation, and the rewarding opportunities co-operation enables.
In its latest assessment on Hong Kong's economic and financial situation, published last week, the International Monetary Fund reaffirms Hong Kong's role as an international financial centre and "super connector", particularly as a leading fundraising hub and premier offshore Renminbi centre. It notes that Hong Kong's economy has continued to recover, supported by robust technology-related exports, improving private demand and a rebound in financial market activity.
Indeed, the Hong Kong economy, I'm pleased to note, has expanded robustly in the first quarter of 2026 – growing 5.9 per cent year-on-year. That's a significant acceleration from the 4.0 per cent growth in the preceding quarter. Last year, Hong Kong became the world's fifth-largest trading entity in merchandise trade, achieving a 17.5 per cent year-on-year increase.
These are all backed by Hong Kong's unique edge under the "one country, two systems" principle, which brings together the China advantage and the global advantage in this world city. It ensures our established tradition of the rule of law, and a common law system that resembles most global financial hubs. It ensures our low and simple tax regime. It ensures the free flow of information, capital, goods and talent.
More than that, it ensures our city continues to thrive as a conduit of cultures, a platform for exchange, and an engine of sustainable innovation.
This Global Prosperity Summit is a compelling illustration of that. Tomorrow morning's opening session puts a bright spotlight on APEC, the Asia-Pacific Economic Cooperation. This year, China, our country, is APEC's host economy, with the APEC Economic Leaders' Meeting taking place in Shenzhen in November and Hong Kong hosting, for the first time, the APEC Finance Ministers' Meeting in October, thanks to the unwavering support of our country.
Finance ministers and senior officials from APEC's 21 member economies are expected to attend the meeting. We anticipate that representatives of international organisations such as the World Bank, the International Monetary Fund and the Asian Development Bank will also be there.
For Hong Kong, it is a precious, and much welcomed, opportunity to deepen international co-operation and exchanges, while showcasing our formidable strengths as a global financial centre and much more.
Of course, APEC and the world at large are well aware of Hong Kong's stature and structure as an international financial centre – ranked third in the world, and topping the Asia-Pacific rankings, in the latest Global Financial Centres Index. But the Finance Ministers' Meeting gives APEC leaders the chance to see, firsthand, why Hong Kong is also the world's leading offshore Renminbi centre, gateway to China's capital markets and magnet for Mainland and international IPOs – with more and more listings coming from rising technology industries.
And that creates another splendid prospect – the opportunity to showcase the Northern Metropolis. We're eager to welcome international financial and business leaders, investors and entrepreneurs, here for the APEC meetings and more, to take a close-up look at Hong Kong's future economic engine and innovation and technology hub.
The National 15th Five-Year Plan, approved in March, supports the fast-track development of the Northern Metropolis. Spanning one-third of Hong Kong's area, the Northern Metropolis borders Hong Kong's boundary with the Mainland city of Shenzhen.
It provides valuable land for innovative development, and will boost our contributions to the country's overall development and our integration with the Guangdong-Hong Kong-Macao Greater Bay Area. In cutting-edge technology, in global finance, and in many more areas.
Take education, for example. Hong Kong is the only city that boasts as many as five universities in the world's top 100. Subjects like dentistry, nursing, and education offered by our institutions are ranked among the global top 10. Our two medical schools are both in the world's top 50.
To build on the strengths of our world-class education sector, the HKSAR (Hong Kong Special Administrative Region) Government will develop the Northern Metropolis University Town. It will provide fresh pieces of land for post-secondary institutions to introduce signature programmes, research collaborations and exchange projects.
Hong Kong's third medical school will admit its first students in two years' time. It will eventually move to a permanent site in the Northern Metropolis, together with an integrated medical education, research and patient-care hospital.
There it will take its place as a pillar of the Northern Metropolis University Town, supporting Hong Kong's rise as an education hub and medical research and innovatin centre, attracting a world of teaching, research and medical talent.
The Greater Bay Area Clinical Trial Collaboration Platform was launched at the end of last year, in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, a vast area that covers both sides of our boundary with Shenzhen. There, we work together with our Shenzhen counterpart in co-ordinating multi-centre, cross-boundary clinical trials that meet both national and international standards.
Later this year, we will set up the Hong Kong Centre for Medical Products Regulation, focused on its emergence as an internationally recognised regulatory authority for medical products. The Centre, let me add, will emphasise both Western and Chinese medicine and medical devices.
And, in late March, we began implementation of primary evaluation for new drug registration. It will allow for the faster approval of innovative drugs in Hong Kong, while encouraging local R&D (research and development).
In September, we will host the World Cancer Congress, welcoming medical specialists and researchers from all over the world to Hong Kong.
Deepening international exchanges and co-operation through such mega events allows the world to see Hong Kong as the free and open economy, and society, it is – one committed to creating rewarding opportunities for all concerned.
I'm also pleased to add that the 94th INTERPOL General Assembly will be held in Hong Kong in November. That, ladies and gentlemen, speaks of Hong Kong's growing prominence in international law enforcement. Delegates from some 190 law enforcement bodies worldwide will gather here – to see that our law enforcement agencies are highly regarded, that we are home to a globally recognised anti-corruption commission, and that Hong Kong is one of the world's safest cities.
We are among the world's leading sports and entertainment cities, too, let me add. Last month, the Hong Kong Sevens celebrated its 50th anniversary in style, at our world-class Kai Tak Sports Park. The event was said to have generated economic benefits of more than HK$100 million. And the organisers have plans to expand it from a three-day tournament to a week-long festival of sports and entertainment.
In December, Hong Kong will host the Association of National Olympic Committees General Assembly, one of the sports world's major events.
The international gathering is expected to attract over 1 200 sports leaders, dignitaries and representatives from over 200 National Olympic Committees, as well as the International Olympic Committee and the Organising Committees of the Olympic Games.
There's more, much more to tell, ladies and gentlemen. And in so many sectors, industries and areas, each and every one reflecting, in its own inimitable way, Hong Kong's singular status as a multi-level bridge connecting economies, cultures, peoples and opportunities.
My thanks to the organisers – the Savantas Policy Institute, the Shanghai Institutes for International Studies and the European Chamber of Commerce in Hong Kong – for once again bringing the world to us.
Ladies and gentlemen, I wish you all the best of business at the Global Prosperity Summit, and a memorable stay with us in Hong Kong.
Thank you very much.
Speech by CE at Welcome Dinner for Global Prosperity Summit 2026 (with photos/video) Source: HKSAR Government Press Releases
Speech by CE at Welcome Dinner for Global Prosperity Summit 2026 (with photos/video) Source: HKSAR Government Press Releases
