Chief govt John Lee’s maiden speech

Hong Kong Chief Govt John Lee on Wednesday introduced initiatives to draw expertise and funding to the town.

In his first coverage tackle since he took workplace in July, Lee mentioned the federal government would put aside billions to draw companies to the town, and launch a so-called prime expertise go scheme to “entice abilities to pursue their careers in Hong Kong.”

Those that change into everlasting residents can apply for a refund of additional stamp responsibility paid on properties within the metropolis, he mentioned.

Hong Kong has misplaced 1000’s of residents for the reason that pandemic began, worsening a “mind drain” from the worldwide monetary hub.

The Grasp Seng index in Hong Kong superior barely in early commerce earlier than giving up these features. Forward of the speech, it was down greater than 0.8%. It fell greater than 1% in the course of the speech.

Lee, a Beijing loyalist, was the one candidate within the election in Might to switch his predecessor Carrie Lam. Round 1,500 members of a largely pro-Beijing election committee voted, and Lee received 1,416 votes to change into Hong Kong’s prime chief.

Hong Kong was a British colony earlier than it was handed to China in 1997 to be ruled underneath a “one nation, two techniques” framework. Hong Kong was promised autonomy for 50 years and has freedoms that different Chinese language cities don’t have, together with restricted election rights.

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