Chief Executive Carrie Lam delivered her 2020 Policy Address on 25th November. Here are some takeaways:

Chief Executive’s 2020 Policy Address Summary 

Upholding and Improving the ‘One Country, Two Systems’ Practice 

  • Hong Kong operates under an executive-led system while the judiciary remains independent. 
  • Boost national security education 

Together, we Fight the Virus  

  • Beijing to support Hong Kong in ensuring the supply of Covid-19 vaccines 

Housing and Land Supply 

  • Identify land to build 316 000 public housing units under the 10-year Long Term Housing Strategy (2021-22 to 2030-31). 
  • Provide over 100 000 public and private housing units in the coming 10 to 15 years. 
  • Set up the Development Projects Facilitation Office to expedite the processing of development approvals of large-scale private residential sites. Streamline coordination of housing policy between all bureaux and departments.   

Unlimited Business Opportunities 

  • Expedite the implementation of the GBA cross-boundary wealth management connect scheme. 
  • The Airport Authority Hong Kong (AAHK) will invest in Zhuhai Airport on the basis of market principles to reinforce its advantage in aviation. 
  • Jointly develop the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone with Shenzhen. 
  • Set aside $50 million under the Professional Services Advancement Support Scheme.  
  • Make an additional injection of $1 billion into the CreateSmart Initiative. 
  • Maintain an annual capital works expenditure of over $100 billion in the next few years. 
  • Roll out additional relief measures involving a funding of $600 million for the tourism industry, which has been hardest hit by the epidemic. 

Livable City 

Traffic and transport infrastructure 

  • Conduct a comprehensive traffic and transport strategy study and the “Strategic Studies on Railway and Major Roads beyond 2030” to complement land development planning and housing supply.  
  • Plan and design the Tung Chung Line Extension and Tuen Mun South Extension, and commence relevant work on the Northern Link and submit the project proposal on the South Island Line (West). 

Environmental Protection Blueprint 

  • Strive to achieve carbon neutrality before 2050 and update the Hong Kong’s Climate Action Plan in mid-2021 to formulate more aggressive strategies and measures. 
  • The Hong Kong government invites tenders to develop a modern pulping facility in EcoPark, Tuen Mun in the first half of 2021 to handle the recycling of waste paper. 

Nurturing Talent  

  • Review school curricula with regards to civic and national education. 
  • Set aside $2 billion under the Quality Education Fund to support e-learning.  
  • Launch the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to subsidize youth start-ups.  
  • Launch the GBA Youth Employment Scheme to subsidize Hong Kong university graduates working in GBA Mainland cities.  
  • Create more civil service and sector-specific jobs for recent graduates.  

Caring Society 

  • Increase funding for addressing mental health needs.  
  • Further enhance the means test mechanism to ease the financial burden of patients requiring long-term medication.