startup_banner

2017 Policy Address

Bookmark and Share

Economy

 

  • Explore further with the Mainland the expansion and enhancement of CEPA in investment, economic and technical co-operation, etc. with a view to achieving results by mid-2017.
  • Continue to co-operate closely with the Guangdong Provincial Government under the Guangdong-Hong Kong co-operation mechanism to better seize new opportunities for Hong Kong in the Guangdong-Hong Kong in-depth co-operation zone in Nansha.
  • Actively consider the recommendations on the sustainable development of Hong Kong’s financial market and financial services sector by the Financial Services Development Council concerning taxation, laws and regulations, nurturing talent, etc., and take forward the feasible measures. Invite the Hong Kong Trade Development Council (TDC) to strengthen the promotion of our financial services industry outside Hong Kong.
  • Strengthen Hong Kong’s status as a global offshore Renminbi business hub, taking advantage of the demand arising from the Belt and Road Initiative and the Mainland-Hong Kong Mutual Recognition of Funds Arrangement.
  • Strive to complete by mid-2017 the procedures for Hong Kong joining the Asian Infrastructure Investment Bank.

 

 

Belt and Road Initiative

 

  • Support the professional sectors in their exchanges, co-operation and related publicity efforts targeting overseas markets under the $200 million Professional Services Advancement Support Scheme.
  • Strengthen the establishment and resources of the Belt and Road Office to ensure it can take forward its work more effectively on a long-term basis.
  • Organise with the TDC another Belt and Road Summit in September 2017, and prepare to take part in a Belt and Road Forum for International Co-operation hosted by the Central Government in Beijing in May, the highest-level forum ever held since the introduction of the Belt and Road Initiative.
  • Increase the quotas to 5 600 for students’ Mainland exchange programmes along the Silk Road this year, and encourage, through the Quality Education Fund, student exchange activities in the Mainland and countries along the Belt and Road.
  • Consider relaxing visa requirements for nationals of countries along the Belt and Road in entering Hong Kong for employment, study and visit.

 

 

Innovation and Technology

 

  • Join efforts with the Shenzhen Municipal Government in developing a Hong Kong/Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop in Hong Kong.
  • Consider to offer tax concession and financial incentives, and other measures to attract local innovation and technology enterprises, as well as those from the Mainland and overseas.
  • Request universities to conduct more research projects with the potential to be applied in practice, and to refine their knowledge and technology transfer plans.
  • Invite through the Innovation and Technology Venture Fund eligible venture capital funds as partners to co-invest with the Government in Hong Kong’s technology start-ups.
  • Plan to build a Data Technology Hub and an Advanced Manufacturing Centre in the Tseung Kwan O Industrial Estate to promote re-industrialisation.
  • Prepare to commission a strategic study on promoting the establishment of a Common Spatial Data Infrastructure.
  • Support the construction by the Hong Kong Science and Technology Parks Corporation (HKSTPC) of an InnoCell adjacent to the HKSTPC to provide residential units and shared working spaces for leasing to staff of incubatees and start-ups.

 

 

Housing and Land Use

 

  • Projected supply is 94 000 units of first-hand residential properties in next three to four years.
  • Estimated public housing production is about 94 500 units in the next five years, including about 71 800 public rental housing units and about 22 600 subsidised sale flats.
  • Provide over 380 000 residential units, based on land supply in the short and medium terms through changing land uses and increasing development intensity. In the medium and long terms, new development areas and new town extensions can provide over 8.6 million square metres of industrial and commercial floor area and over 220 000 residential units. The first population intake is expected in 6 to 10 years.
  • Commence promptly the planning and engineering study on the reclamations at Lung Kwu Tan and in Ma Liu Shui of about 200 and 60 hectares respectively.
  • Publish the blueprint for Lantau’s development and conservation in the first half of 2017.
  • Set aside $500 million for the first phase of harbourfront development.
  • Conduct the “Hong Kong 2030+” planning study and its public engagement exercise.

 

 

Environmental Protection and Nature Conservation

 

  • Reduce the carbon intensity in Hong Kong from the 2005 level by 65% to 70% by 2030.
  • Earmark at least $500 million to gradually achieve energy saving targets of over 200 government buildings.
  • Implement the first Biodiversity Strategy and Action Plan for Hong Kong.
  • Plan to introduce a bill for implementing quantity-based municipal solid waste charging in this legislative year.

 

 

Transport

 

  • Construct the Central Kowloon Route and conduct a feasibility study on Route 11 as soon as possible.
  • Press ahead with the works of the Hong Kong Boundary Crossing Facilities and the Hong Kong Link Road which will connect with the Hong Kong-Zhuhai-Macao Bridge, and discuss with the Mainland and Macao authorities cross-boundary transport arrangements.
  • Take forward preparations for connecting the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link with the national high-speed rail network, with a view to accomplishing the targeted commissioning of service in the third quarter of 2018.Work with stakeholders to promote new “Walk in HK” measures, and continue to create a “bicycle-friendly” environment in new towns and new development areas.

 

 

Elderly Care and Support for the Disadvantaged

 

  • Invite the Community Care Fund to consider implementing two pilot schemes to support elderly persons discharged from public hospitals and elderly persons with mild or moderate impairment.
  • Provide an additional 2 000 vouchers under the Pilot Scheme on the Community Care Service Voucher for the Elderly to support ageing in place for elderly persons with moderate or severe impairment; and provide 3 000 vouchers under the Pilot Scheme on Residential Care Service Voucher for the Elderly from 2017 to 2019.
  • Extend the Pilot Residential Care Services Scheme in Guangdong for three years, and introduce the Fujian Scheme.
  • Inject $300 million into the Community Investment and Inclusion Fund to build mutual help networks in the community.

 

 

Retirement Protection and Population Policy

 

  • Propose to progressively abolish the “offsetting” of severance payments or long service payments with Mandatory Provident Fund (MPF) contributions.
  • Launch the Default Investment Strategy of the MPF Schemes Authority in April 2017 to address the concerns of “high fees” and “difficulty in making investment choices”.
  • Enhance Old Age Living Allowance (OALA) through relaxing the asset limits for the existing allowance and adding a higher tier of assistance, benefiting around 500 000 persons; and extend the fee waiver for public hospital and clinic services to cover older OALA recipients with more financial needs, benefiting 140 000 persons.
  • Propose to lower the eligibility age for the Elderly Health Care Vouchers from 70 to 65, benefiting some 400 000 persons.
  • Strive to map out within the current Government term a working hours policy direction that suits Hong Kong’s socio-economic situation.
  • Inject an additional $1.5 billion into the Continuing Education Fund to encourage continuing education.

 

 

Education and Youth Development

 

  • Provide each public sector secondary school with an additional one-off subsidy of $200,000 to facilitate school-based STEM education programmes.
  • Regularise the Study Subsidy Scheme for Designated Professions/Sectors from the 2018/19 academic year and increase subsidised places under the scheme to benefit about 13 000 students each year.
  • Launch the seventh Matching Grant Scheme with a maximum grant of $500 million for application by qualified institutions, to help self-financing post-secondary institutions tap more funding sources.
  • Promote Chinese history and traditional Chinese culture through strengthening teachers’ professional development and providing a one-off grant of about $125 million to support teaching efforts in this respect.
  • Introduce a paid non-local study leave scheme on a pilot basis for serving secondary school teachers for three years, benefitting some 150 teachers.

 

 

Healthcare

 

  • Provide in 2017-18 an additional $2 billion to the Hospital Authority in total recurrent expenditure to meet service demand.
  • Finance the construction of a Chinese medicine hospital in Tseung Kwan O.

 

 

Sports and Culture

 

  • Launch 26 projects to develop new or improve existing sports and recreation facilities in the next five years.
  • Propose a comprehensive development of Wan Chai Sports Ground for convention and exhibition venues as well as recreation, sports and community facilities.
  • Inject $1 billion into the Elite Athletes Development Fund.
  • Take forward the development of the Hong Kong Palace Museum in the West Kowloon Cultural District.
Drop us your email address and stay connected with us

Privacy Policy

Welcome to the website (“Site”) of Startup Business Centre (“Startup Business Centre”).

Startup Business Centre believes that the responsible use of personal information collected from you through this Site is critical to its business objectives and reputation. As part of our commitment to privacy, we have adopted this Privacy Policy.

This Privacy Policy relates solely to personal information supplied by you on this Site. Any personal information provided by you to Startup Business Centre through this Site may be used for the purposes of your request and/or for the purposes of providing services or other products to you.

The information which you are requested to provide on this Site may be transferred within the Startup Business Centre group comprising Startup Business Centre, its subsidiaries, affiliates and associated companies. This may include transfer, with your consent, to other members of the Startup Business Centre group in different jurisdictions. In providing your telephone and facsimile numbers you are agreeing that Startup Business Centre may contact you by telephone and facsimile. Startup Business Centre will not reveal your details to any external body, unless Startup Business Centre either has your permission, or is under a legal obligation or any other duty to do so, or such disclosure is for the purposes of your request and/or for the purposes of providing services or other products to you.

Startup Business Centre wishes to assure you that your personal information will be treated as confidential and with high standards of security and confidentiality. Startup Business Centre pledges its intention fully to meet internationally recognized standards of personal data privacy protection and to comply with the requirements of applicable data protection/privacy laws. In doing so, we will ensure compliance by our staff with the same high standards of security and confidentiality.

×

Disclaimer

Startup Business Centre makes available the information and materials on the Website (the "Materials") for general informational purposes only.

 

The Materials, including but not limited to summaries, descriptions, publications and any other such materials appearing on the Website, are not intended to constitute, and DO NOT constitute, financial, investment or business advice. Those accessing the Materials should not act upon them without first seeking legal, financial or other such business counsel, as these Materials are general in nature, and may not apply to particular factual or legal circumstances. As such, the Materials should not be used as a substitute for consultation with a professional adviser. Please consult a professional adviser should you have questions regarding legal, financial or other such business counsel. Neither Startup Business Centre, nor its members, affiliates, employees, agents, officers or directors will be responsible for any financial, legal or business decisions you may make. Moreover, Startup Business Centre’s member firms are separate and independent legal entities, and you agree that Startup Business Centre is not responsible for any acts of omissions of these entities.

 

Any price quotation, service information, employment benefits information or any other such information regarding the provision and fees for any service offered by Startup Business Centre or the benefits of employment by Startup Business Centre are provided purely for informational and illustrative purposes. Startup Business Centre does not guarantee, and makes no warranty, promise, or agreement that any depicted or described service or benefit is actually offered or comports with its description on the Website. Startup Business Centre reserves the right to cease offering any such services or benefits to prospective or current employees or clients at any time, in all cases without notice or liability.

This Web site may contain typographical errors or inaccuracies, and may not be complete or current. Startup Business Centre therefore reserves the right to correct any errors, inaccuracies or omissions and to change or update information at any time without prior notice.

 

Certain links in this Site connecting to other third parties Sites are for general guidance only. Startup Business Centre makes no representations to the accuracy or any other aspect of information contained in those Sites.

×