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Hong Kong policy address 2023: what will John Lee propose to bring bounce back to the economy? City needs to shake off sense of pessimism, analysts say
- Sluggish economy, youth apathy, geopolitics weigh on city leader as he prepares for annual address
- Struggling business sector wants more help, while many urge Lee to scrap property cooling measures
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Chief Executive John Lee Ka-chiu will deliver his second policy address on October 25. In the first of a three-part series, Kahon Chan and Willa Wu ask economists and politicians what they expect from the city leader as Hong Kong faces external economic uncertainties, lingering social divisions and shrinking reserves.
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Hong Kong’s sluggish economy, the persistent housing shortage, shrinking reserves and deepening political apathy especially among young people pose challenges for Chief Executive John Lee Ka-chiu as he prepares to deliver his second policy address later this month.
His first address a year ago was against the backdrop of a city reopening its borders to quarantine-free travel for overseas visitors for the first time in three years.
Lee rolled out a string of ambitious initiatives to woo big enterprises and top talent to a city feeling the effects of a brain drain triggered by harsh Covid-19 restrictions and Beijing’s imposition of the national security law.
A year later, Lee can rightly claim some success for his efforts.
A set of talent programmes, including the Top Talent Pass scheme for well-educated top earners, has drawn more than 160,000 applications with around 100,000 approved.
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