Overview

• John Lee's policy address outlines plans to ease mortgage rules and cut liquor taxes to stimulate economic growth and revitalize Hong Kong’s nightlife sector.
• Measures include enhancing housing affordability for citizens under 40, with increased access to subsidized flats and a new system for converting subdivided flats.
• The government plans to bolster Hong Kong’s status as a global financial hub by attracting international talent and capital, alongside boosting maritime and trade sectors.
• Critics argue that efforts to address subdivided housing fall short, with calls for clearer implementation details and more comprehensive solutions.
• Amid concerns about economic competitiveness, the policy includes initiatives to attract wealthy immigrants and expand the investor migration program.