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Carrie Lam, Hong Kong’s chief govt, delivers her coverage deal with on the Legislative Council in Hong Kong, China, on Wednesday, Oct. 6, 2021.
Paul Yeung | Bloomberg | Getty Photographs
“With the implementation of the Nationwide Safety Legislation and enchancment to our electoral system, chaos has ended and social order has been restored,” she mentioned, in accordance an official English translation of her remarks. “We at the moment are embracing a brand new period the place we will deal with financial improvement.”
She reiterated that time a number of occasions throughout her two-hour lengthy speech.
Her 2019 deal with was “disrupted and paralyzed” by “anti-China” opposition lawmakers, Lam mentioned.
This was Lam’s remaining coverage deal with in her present time period as chief govt. Hong Kong’s subsequent chief govt election is because of happen in March subsequent yr.
Hong Kong, a former British colony that was handed over to China in 1997, was promised autonomy for 50 years.
The Chinese language monetary hub is ruled underneath the “one nation, two techniques” framework and has freedoms that different Chinese language cities don’t have, akin to restricted election rights and a largely separate authorized and financial system.
‘Again on observe’
Lam touted Wednesday’s calm coverage speech as a “clear manifestation that the Hong Kong [Special Administrative Region] has acquired again heading in the right direction of ‘one nation, two techniques.'” She praised the nationwide safety legislation and electoral reforms underneath pro-Beijing lawmakers within the metropolis for the “well timed curb on the chaos within the metropolis.”
“Any accusation that these two main initiatives of the central authorities have undermined ‘one nation, two techniques’ is nonsense and groundless,” she mentioned.
It may be seen that our enterprise surroundings has not been undermined by the impression of the pandemic and the biased experiences of Hong Kong’s state of affairs by sure Western media.
Carrie Lam
Hong Kong Chief Govt
The chief govt claimed preliminary issues in regards to the nationwide safety legislation amongst companies have “notably subsided” and that corporations at the moment are most involved about Covid restrictions on cross-border journey.
A Could survey by the American Chamber of Commerce in Hong Kong discovered that 42% of its members who responded are contemplating leaving the town, and the “most generally shared concern was discomfort” as a result of nationwide safety legislation.
Lam mentioned the variety of enterprise operations in Hong Kong with guardian corporations abroad or within the mainland reached all-time highs this yr, as did the variety of start-ups within the metropolis.
“It may be seen that our enterprise surroundings has not been undermined by the impression of the pandemic and the biased experiences of Hong Kong’s state of affairs by sure Western media,” she mentioned with out naming them.
Land, housing improvement
Individually, Lam proposed creating an space within the north of Hong Kong right into a metropolis for residential and industrial use.
It could possibly be a hub for innovation and expertise, and assist Hong Kong and Shenzhen’s improvement, she mentioned.
Present plans point out that 350,000 residential items could possibly be created on this Northern Metropolis, with the potential for an additional 186,000 extra items.
The Hong Kong chief additionally supplied updates on the federal government’s housing coverage for Hong Kong, which is among the costliest residential property markets on the earth.
“Offering first rate lodging for all is the first aim of my housing coverage,” Lam mentioned in her speech, noting that the lengthy ready time for public rental housing allocation is “worrying.”
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