Global economy must reckon with protectionism in 2025: Hong Kong leader
Chief Executive John Lee tells financial forum that city government will lead drive to reform and innovate amid geopolitical challenges
Hong Kong’s leader has said the global economy in 2025 is set to face challenges due to geopolitical tensions and protectionism, while pledging to spearhead efforts in reform and innovation to help the city thrive.
Chief Executive John Lee Ka-chiu also highlighted the importance of drawing up a medium to long-term development plan to cultivate new industries and transform 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 China Central Television-organised financial forum on Monday.
“I am confident that Hong Kong will scale new heights, as long as society stays united to seize timely opportunities”
The city leader added that 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.
