Key facts
- Hong Kong Chief Executive John Lee affirmed the city's commitment to not abandoning any markets and exploring new economic opportunities.
- Lee highlighted Hong Kong's advantages as a safe, stable, and secure society for investors amidst geopolitical tensions.
- The Northern Metropolis project is designed to attract investors and overcome talent attraction bottlenecks.
- The government will consult the public on continuing pro-baby incentives, including a HK$20,000 newborn bonus expiring in October.
- Hong Kong's economy is forecast to grow between 2.5% and 3.5% for the full year, with Q1 2026 expansion at 5.9%.
Hong Kong Chief Executive John Lee has stated the city is determined to expand into new global markets while strengthening relationships with existing partners, emphasizing that it "will not give up any markets" despite prevailing geopolitical tensions. Lee acknowledged that while the US remains an important market, interactions are expected to be primarily business-to-business. He asserted that Hong Kong's distinct advantages as a "safe, stable and secure society" are underscored by the complex geopolitical landscape, and that external factors will not alter the city's fundamental strengths, including its status as a free port.
Lee also pledged further reforms in his final term, citing economic growth and a positive outlook. He pointed to the government's forecast of full-year real growth between 2.5% and 3.5%, buoyed by a 5.9% year-on-year expansion in the first quarter of 2026. The Northern Metropolis project, spanning about 30,000 hectares near the mainland border, is intended to drive technological and economic growth and attract talent, though Lee noted it requires early success stories to draw investors.
In a new development, Lee announced that the Hong Kong government will conduct a public consultation on its pro-baby incentives, including the HK$20,000 newborn bonus set to expire in October, due to persistently low birth rates. He noted that delayed marriage and cultural shifts limit the effectiveness of current policies. Since its launch, over 65,000 babies have benefited from the programme, with more than HK$1.3 billion distributed in subsidies.