Highlights of Hong Kong leader John Lee's fourth policy address

HONG KONG, Sept 17 (Reuters) - Hong Kong leader John Lee delivered his fourth annual policy address on Wednesday pledging to boost the financial hub's economy and enhance people's livelihoods.

Some of the highlights include:

ECONOMY

- The economy has rebounded , turning from negative to positive and gaining momentum.

- This year's economic growth is projected at 2% – 3%, compared with 2.5% in 2024.

- To accelerate development of Northern Metropolis Area close to mainland China borders.

- "To further develop our economy and improve people's livelihood, we must speed up the Northern Metropolis development."

- "We will also introduce dedicated legislation to accelerate the development of the Northern Metropolis."

- To promote the development of AI+ with strong emphasis on safety risk prevention.

- To formulate preferential policy packages to attract more enterprises.

- The government will explore the establishment of a more flexible mechanism to introduce tax incentives that comply with international standards.

- To attract more top-notch international and mainland pharmaceutical companies to set up operations in Hong Kong.

- To promote the development of the new energy industry, and Hong Kong is working to achieve carbon neutrality before 2050.

- To construct Hong Kong's first large-scale electric vehicle (EV) battery recycling facility, which is expected to commence operation in the first half of 2026.

- To set up task force on supporting mainland China enterprises in going global and to encourage mainland enterprises to use Hong Kong in expanding their businesses overseas.

- To optimise the regimes for listing on the Main Board and issuing structured products, consider enhancements to the listing requirements for companies with weighted voting right structures.

- To press ahead with the inclusion of an yuan trading counter under Stock Connect's Southbound trading for Hong Kong stocks.

- To promote Hong Kong as international gold trading market.

- To support the Airport Authority Hong Kong and financial institutions to establish Hong Kong's gold storage facilities, with a target gold storing capacity of over 2,000 tonnes in three years, propelling Hong Kong into a regional gold reserve hub.

POLITICS/NATIONAL SECURITY

- The government will continue to steadfastly safeguard national sovereignty, security and development interests

- "We will continue to enhance the legal system and enforcement mechanism for safeguarding national security ... so as to prevent, suppress and impose punishment for acts and activities endangering national security."