Hong Kong’s leader has said the global economy in 2025 is set to face challenges because of geopolitical tensions and protectionism, while pledging to spearhead efforts in reform and innovation to help the city thrive.
Chief Executive John Lee Ka-chiu on Monday also highlighted the importance of drawing up a medium to long-term development plan to cultivate new industries and grow the city into an international innovation and technology hub.
“Looking forward to 2025, the global economy will continue to face challenges such as geopolitics and protectionism. The government will lead all sectors of Hong Kong society to jointly reform and innovate,” Lee said in a pre-recorded video shown at a financial forum organised by China Central Television.
“I am confident that Hong Kong will scale new heights, as long as society stays united to seize timely opportunities”
The city leader added his administration was actively building an efficient fintech ecosystem and promoting the growth of digital industries.
Lee highlighted the government’s HK$10 billion (US$1.28 billion) I&T Industry-Oriented Fund, which would enhance the city’s tech start-up ecosystem.