Hong Kong Financial Secretary Paul Chan: Spare no effort to ensure that the benefits of the Northern Metropolis development are enjoyed by the public as soon as possible.

15:06 17/09/2025

Chen Maobao also believes that Hong Kong must actively cultivate emerging industries, and it is crucial to attract companies and talent. Over the past few years, Hong Kong has made good progress.

On September 17th, the Chief Executive of the Hong Kong Special Administrative Region delivered the fourth Policy Address of the current government, with the theme "Deepening Reform, Caring for Peoples Livelihood, Leveraging Advantages, and Jointly Creating the Future." Hong Kong Financial Secretary Paul Chan Mo-po stated that the planning for the Northern Metropolis Area has been launched, and now is a crucial period for introducing industries and major projects to accelerate the ecological construction and development of Hong Kong's innovation and technology industry. The Policy Address proposed the establishment of the Northern Metropolis Development Commission led by the Chief Executive, and the government will spare no effort to ensure the coordination of infrastructure, transportation, community development, and industrial development in the Northern Metropolis to accelerate the enhancement of economic development momentum and benefit the residents sooner. Paul Chan Mo-po pointed out that Hong Kong is at a critical period of economic transformation. The new Policy Address outlines short, medium, and long-term measures and policies to speed up social and economic development, improve residents' quality of life, set clear goals and implementation blueprints, and strive to better integrate Hong Kong into the overall national development and play a role in deepening international exchanges and cooperation. Paul Chan Mo-po also believed that Hong Kong must actively nurture emerging industries, and the introduction of enterprises and talents is crucial. He mentioned that Hong Kong has made good progress in the past few years. With solid support from the country this year, Hong Kong's economy has been making steady progress, and its advantages under the "One Country, Two Systems" framework are acceleratingly manifesting in terms of inward international funds, enterprises, and talents. The government will fully support the Chief Executive in implementing various policy measures.

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The Federal Reserve's Daly warns of vulnerability in the labor market, says it may be necessary to cut interest rates one to two more times this year.

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