Xi Jinping Briefed on Hong Kong Fiscal Balance Plans by Chief Executive John Lee
Chief Executive John Lee recently met with President Xi Jinping during his visit to Beijing to discuss the strategies aimed at achieving fiscal balance in Hong Kong within the next three to five years. This meeting comes after the SAR government warned of a potential deficit of around HK$100 billion for the current financial year.
Strategies for Fiscal Balance
Lee emphasized the importance of developing new growth points and seizing opportunities presented by the mainland to strengthen Hong Kong’s economy. He mentioned plans to expand into markets such as Asean, the Middle East, Latin America, and central Asia, while highlighting that the nation still offers the most significant opportunities for the city.
Discussion Points with President Xi
In addition to fiscal matters, Lee and President Xi discussed crucial topics such as safeguarding national security, enhancing governance, boosting development momentum, and improving people’s livelihood. During a photo call, Xi commended Lee’s work and praised his administration for completing the “historic legislation” of Basic Law Article 23.
Future Plans and Collaborations
Looking ahead, Lee and Chief Secretary Eric Chan are set to meet with officials from the Ministry of Human Resources and Social Security in Beijing to gain insights that will benefit a newly established SAR committee focused on education, technology, and talents.
Lee expressed optimism about the exchange, highlighting the potential for creating extra synergy, fostering new developments, and driving economic growth for Hong Kong. He emphasized the importance of continuous improvement and aligning with President Xi’s doctrine of always striving for better outcomes.
As Lee prepares to return to the SAR following his visit to Beijing, the discussions and plans laid out during his meeting with President Xi set the stage for a proactive approach to address Hong Kong’s fiscal challenges and capitalize on emerging opportunities.
With a clear vision and a collaborative spirit, Hong Kong’s leadership is committed to navigating the path towards fiscal stability and sustainable growth, guided by the principles of partnership and progress.
One day, as Lee was preparing for the crucial meeting with President Xi, he remembered his humble beginnings as a young student navigating the complexities of the economy. The values of hard work, perseverance, and innovation that he learned during those early days have shaped his approach to governance and leadership, driving him to seek solutions that will benefit the people of Hong Kong for years to come.
