Speech by CE at InvestHK International and Mainland Businesses Welcome Reception
Following is the speech by the Chief Executive, Mr John Lee, at the InvestHK International and Mainland Businesses Welcome Reception today (June 25):
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Ladies and gentlemen, good evening. I'm delighted to welcome enterprising companies from the Chinese Mainland and around the world to Hong Kong.
You bring to Hong Kong strategic expertise in innovation and technology, financial services and fintech, tourism and hospitality, transport and logistics, business and professional services, and more. In choosing Hong Kong for your Asian and global business expansion, you share my belief in Hong Kong's flourishing future. And your critical role in realising it.
You have made a wise choice. Hong Kong is one of the world's best economies to do business in and with.
Last year, Hong Kong once again topped the Fraser Institute's ranking of the world's freest economies. Last month, the Global Wealth Report ranked Hong Kong the world's largest cross-boundary wealth-management centre. And, just last week, we were named second, overall, among the world's most competitive economies, in the latest World Competitiveness Yearbook.
These, and other international laurels, are a tribute to our "one country, two systems" framework and the resourceful, resilient Hong Kong companies that make it work. They have made Hong Kong the world's "super connector" and "super value-adder". That includes serving as a two-way springboard for Chinese Mainland enterprises to go global and overseas enterprises to explore the vast Mainland market.
And our investment promotion results are more than reassuring. In the first half of this year, we welcomed 413 companies establishing or expanding their operations in Hong Kong - a year-on-year increase of some 10 per cent. Together, they are expected to bring in over HK$53 billion in foreign direct investment and create more than 8,600 new jobs.
We are expediting development of the Northern Metropolis, our new economic engine destined to rise as an international I&T and business hub. This will unlock abundant opportunities and shape a prosperous future for Hong Kong.
To take full advantage of the opportunities Hong Kong has been given through the National 15th Five-Year Plan, we are creating Hong Kong's first Five-Year Plan, a strategic blueprint that will focus on long-term economic momentum, advancing technology and improving livelihoods. A two-month public consultation is already underway.
We are also launching the public consultation for the 2026 Policy Address next Monday. Running both consultations at the same time makes it easier for everyone to weigh in on both. I invite you to share your views on both the FiveYear Plan and the Policy Address. Your insights will help shape policies that directly affect your business environment.
Ladies and gentlemen, for your confidence and investment in Hong Kong's future, my thanks to you all. I wish everyone of you a memorable evening and the best of business in the coming year. Thank you.
The Chief Executive, Mr John Lee (front row, second right); the Secretary for Commerce and Economic Development, Mr Algernon Yau (front row, third left); the Director of the Chief Executive's Office, Ms Carol Yip (front row, first right); and the Director-General of Investment Promotion, Ms Alpha Lau (front row, second left), are pictured today (June 25) with guests, including more than 380 senior executives from global enterprises, at the annual International and Mainland Businesses Welcome Reception, organised by Invest Hong Kong. Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee (second left); the Secretary for Commerce and Economic Development, Mr Algernon Yau (second right); the Director of the Chief Executive's Office, Ms Carol Yip (first left); and the Director-General of Investment Promotion, Ms Alpha Lau (first right), toast the continued success of the enterprises setting up or expanding their businesses in Hong Kong at the annual International and Mainland Businesses Welcome Reception organised by Invest Hong Kong today (June 25). Source: HKSAR Government Press Releases
The Chief Executive, Mr John Lee, speaks at the annual International and Mainland Businesses Welcome Reception organised by Invest Hong Kong today (June 25), thanking enterprises for their trust and confidence in Hong Kong. Source: HKSAR Government Press Releases
Government makes long-term housing arrangement plan available to Wang Chi House
The Government said today (June 26) that it has received the duly signed "Letter of Acceptance" from over three quarters (75 per cent) of owners of Wang Chi House (Block H) of Wang Fuk Court in Tai Po (a total of 193 units) (77.8 per cent), confirming their intention to sell their titles to the Government. According to the follow-up arrangements for Wang Chi House announced earlier, with the strong consensus reached among owners of Wang Chi House, the long-term housing arrangement plan currently applicable to Blocks A to G of Wang Fuk Court will be formally available to Wang Chi House.
A Government spokesman said that the feedback from Wang Chi House owners has been encouraging and positive, reflecting that the long-term housing arrangement plan offered by the Government is attractive and can effectively assist owners in resolving the various uncertainties and complexities that they are facing. These include the difficulties in estimating the time needed before they can move back, handling the modification of the land lease and deed of mutual covenant, the burden of hefty maintenance costs and a potential sharp increase in management fees due to the possible need to source alternative contractors and management companies, the reluctance to move back to Wang Chi House as a result of the psychological distress caused to some owners by the fire, as well as the depreciation of the property values and the hurdles in future property transactions. The plan offered by the Government allows owners to rebuild their long-term homes and start their new lives.
As for Blocks A to G of Wang Fuk Court, the spokesman said that a total of1 361 duly signed "Letters of Acceptance" have been received from the owners as of today, representing approximately78.4 per cent of the total number of units in the seven blocks. The acquisition work has been making good progress.
After selling their titles to the Government and receiving cash payments, owners of the eight buildings of Wang Fuk Court (Blocks A to H) can purchase their home in the market right away, or participate in the Special Sales Exercise dedicated for Wang Fuk Court owners and purchase a new subsidised sale flat (SSF) either through cash or the "Flat-for-Flat" arrangement. The flat selection priority under the Special Sales Exercise will be determined in batches according to the date on which the duly signed "Letter of Acceptance" from the owners is received by the Government. The deadline for the first batch is June 30, while that for the second batch is August 31. The flat selection priority for applicants within the same batch will be further determined by their sequence as drawn in a ballot.
The spokesman encouraged owners of Wang Fuk Court to sign and submit the "Letter of Acceptance" as soon as possible to secure the flat selection priority under the Special Sales Exercise. The spokesman also reminded owners who intend to sell their titles to return the duly signed "Letter of Acceptance" on or before August 31.
As the long-term plan is formally available to Wang Chi House, there will be slight adjustments to the Special Sales Exercise. On top of the approximately 3 900 units currently reserved, an extra 496 units will be added.
Those 496 additionally reserved units all come from the SSF projects of the Hong Kong Housing Society announced under the Special Sales Exercise. Among these, the number of units at the Pak Wo Road project in Fanling will increase by 200, bringing the total from 100 to 300, while the number of units at the Anderson Road Quarry Site project in Kwun Tong will increase by 296, bringing the total from 300 to 596 units.
Currently, the Housing Bureau is assisting owners who have signed and submitted the "Letter of Acceptance" to complete the Agreement for Sale and Purchase and the Assignment procedures. As for Wang Chi House, the Housing Bureau will arrange for owners of Wang Chi House accepting the Government's acquisition to sign the Agreement for Sale and Purchase on or before October 15. When signing the Agreement for Sale and Purchase with Wang Chi House owners, the Government will include a clause stipulating that, if fewer than three-quarters (75 per cent) of owners ultimately sign the Agreement for Sale and Purchase, the Government reserves the right to discontinue the acquisition, since the inclusion of Wang Chi House in the plan is premised on at least three-quarters (75 per cent) of owners wishing to sell.
The 2026-27 Budget has earmarked $4 billion for the acquisition of Blocks A to G of Wang Fuk Court. The estimated total acquisition cost for Wang Chi House is about $1 billion. The Government will seek additional funding approval from the Finance Committee of the Legislative Council.
The Engagement Team co-ordinated by the Housing Bureau will continue to maintain communication with Wang Fuk Court owners. If there are any enquiries, owners may contact their designated Engagement Team member or call the hotline at 2129 8133. Owners may also visit the dedicated website for the long-term housing arrangements for Wang Fuk Court (www.hb.gov.hk/wfc) for further details.
Source: AI-found images
