Today marks the 77th anniversary of the founding of the People’s Republic of China. It carries the special significance of being the first National Day celebrated since the announcement of Hong Kong’s First Five-Year Plan.

Over the past 77 years, the Chinese nation has achieved a historic transformation – from standing up and growing prosperous to becoming strong. Today, China has become the world’s largest manufacturer and merchandise trader, its leading contributor to scientific research output and much more, exerting significant influence on international affairs.

The formulation of a Five-Year Plan for Hong Kong is not merely about rolling out a series of policy initiatives. The plan provides a strategic roadmap for Hong Kong, allowing us to apply our unique advantages under “one country, two systems”, embrace modern trends and seize the opportunities brought by national development.

Why should we formulate a Five-Year Plan? And why do it now? The answer is straightforward: to fully and swiftly seize the immense opportunities brought by national development, and to deliver more fruits of development to the benefit of our citizens. Faced with an ever-changing geopolitical landscape, the reshaping of industrial chains, as well as the rapid development of technology and artificial intelligence, Hong Kong must devise a strategic roadmap in a proactive manner and put in place forward-looking plans. As the world’s second-largest economy, China is widely recognised as both a driver and a stabiliser for global economic development. Time and tide wait for no man. We must act decisively and respond to changing circumstances by formulating the Five-Year Plan, in order to ride the wave of opportunities, keep pace with the times, and integrate into and serve the overall national development. This can only boost Hong Kong’s progress and allow the people of Hong Kong to enjoy more development dividends.

Hong Kong’s First Five-Year Plan is a logical and target-oriented plan. It is based on an overall review of Hong Kong’s prevailing strengths, weaknesses, opportunities and threats, and it serves as a comprehensive blueprint targeted at building strengths, overcoming weaknesses, seizing opportunities and managing threats. The plan focuses on six themes: first, to strengthen the development of “four centres and one hub”, namely our status as international financial, maritime and trade centres and an international aviation hub, as well as our development into an international innovation and technology centre and an international hub for high-calibre talent; second, to leverage our advantage as an international city by deepening Hong Kong’s development of a legal and dispute resolution services centre, intellectual property trading centre and East-meets-West centre for international cultural exchange; third, to expedite the development of the Northern Metropolis; fourth, to reinforce our strength in connecting with the country and the world; fifth, to enhance social well-being; and sixth, to adopt a holistic approach to development and security. These six themes cover economic development, spatial layout, internal and external connectivity, livelihood enhancement, and risk prevention and control, forming a comprehensive system with interconnected and mutually reinforcing components.

The three key distinctive features of Hong Kong’s First Five-Year Plan are: first, it is well-suited to the unique characteristics of Hong Kong. In the foreword on page 1 of the plan, it is made clear from the outset that Hong Kong’s Five-Year Plan has to be grounded in the city’s practical reality, and supported by policy measures and major projects that feature Hong Kong's unique character.

Second, it adheres to the “one country, two systems” principle. This means that the First Five-Year Plan must be developed under the Basic Law framework. The Basic Law expressly provides for the practice of capitalism and the common law system, as well as the free flow of capital, people, goods and information in Hong Kong, while the First Five-Year Plan stresses a market economy and upholds the two-pronged approach of effective market and capable government.

Third, the First Five-Year Plan clearly defines Hong Kong’s international positioning. Its 'International Financial Centre' chapter points out that we must firmly demonstrate Hong Kong’s international positioning, whereas the Policy Address states that we will stay committed to our global positioning. The two documents reiterate the importance and establishment of Hong Kong’s global positioning, which powerfully illustrates that it is part of our city’s DNA.

One of the initiatives for implementing the First Five-Year Plan is to fully leverage Hong Kong’s unique advantage as a connector between the country and the rest of the world. Hong Kong is the only city in the world that enjoys the convergence of national and international opportunities. The ultimate focus of the plan is, in fact, to capitalise on this aggregate advantage: drawing on the momentum of the country’s development to gain stable support, while leveraging an international platform to access global resources and achieve two-way interaction. Committed to firmly maintaining its strategic position as the nexus of domestic-international dual circulation, Hong Kong will make greater contributions in its roles as a super connector and super value-adder.

As the Chinese saying goes, “Victory is ensured when people pool their strength; success is secured when people put their heads together.” Hong Kong’s First Five-Year Plan is the fruit of the collective wisdom gained during our extensive consultation. The Hong Kong Special Administrative Region Government puts words into action. With a strategic vision for a bright new era that drives reform, boosts development, unleashes opportunities and enhances livelihood, we have formulated the 2026 Policy Address to launch wide-ranging policy measures and take forward the initiatives for the first year in line with our five-year strategic blueprint. I am confident that as long as we, each dedicated to our respective roles, join hands and work in synergy with one another, Hong Kong will certainly be able to set out on a path to a brighter and more prosperous future.

Finally, I wish our motherland and Hong Kong continuing prosperity and stability. May all of you enjoy good health and great success in every endeavour. Thank you very much.

This is a translation of Chief Executive John Lee’s speech delivered at the reception in celebration of the 77th Anniversary of the Founding of the People’s Republic of China on October 1.

To our English-speaking mentors and mentees, we are here today to celebrate two major milestones of the "She Inspires" Mentorship Programme - the graduation of our first cohort, and the launch of our second.

This year, we proudly bring together over 70 mentors and 120 mentees, showcasing the power of women empowering women across generations.

This programme is a celebration of continuity. Mentors pass on wisdom to ignite future leadership, while mentees broaden their horizons to reach further than ever.

My sincere thanks go to our dedicated mentors, passionate mentees, university partners, and the team behind the scenes for making this a success.

Congratulations to our graduating cohort, and best wishes to our new cohort as they begin their journey.

And you do not walk alone. The Government will continue to work with the community to advance women's empowerment and open more doors for Hong Kong. I look forward to seeing every one of you become the future leaders of our city.

Chief Secretary Chan Kwok-ki gave these remarks at "She Inspires" Mentorship Programme First Cohort Graduation cum Second Cohort Kick-off Ceremony on September 5.

Today marks the 29th anniversary of the establishment of the Hong Kong Special Administrative Region of the People’s Republic of China and the fourth anniversary of the current-term Government.

Four years ago, President Xi Jinping delivered an important speech at the inaugural ceremony of the current term of the Hong Kong SAR Government. In it, he put forward “four musts” and “four proposals” for Hong Kong. These have become the heart of my governance blueprint. Over the past four years, I have changed the culture of the Government and formed a “result-oriented” Government, focusing on tackling long-standing issues. We have built a safe and stable Hong Kong by fulfilling the historic task of enacting local legislation under Article 23 of the Basic Law and strengthening the shield of national security. We have improved the electoral system and strengthened district governance, fully implementing the principle of “patriots administering Hong Kong”. We have deepened the reform of governance systems, and are steadily seeing results.

We have rationalised traffic among the three road harbour crossings to alleviate the long-standing congestion common to the crossings. We have formulated the Basic Housing Units Ordinance with the aim of eradicating, in an orderly manner, substandard subdivided units that have emerged over the past 10 years or so. We have made much effort to shorten the waiting time for public rental housing, including expediting and increasing public housing production, and filling the supply gap during construction stage with the innovative Light Public Housing. The Composite Waiting Time for Subsidised Rental Housing has reduced by 1.5 years, down from 6.1 years to 4.7 years, the shortest time recorded in over eight years. In addition, through cracking down on public rental housing tenancy abuse, we have recovered about 10,000 units. That's equivalent to a medium-sized housing estate, enabling earlier flat allocations for some 10,000 families while saving about $10 billion in public rental housing construction costs.

As for the economy, it has shifted from negative growth of 3.7%, when the current-term Government took office, to positive growth of 3.6% in 2025. The economic growth momentum has continued over the year, with a significant rise of 5.9% in the first quarter, the strongest quarterly growth in five years. Hong Kong has secured third place in the Global Financial Centres Index. In the latest World Competitiveness Ranking, Hong Kong’s position has risen one spot further to rank second globally. And in the World Talent Ranking, Hong Kong has moved up 10 places to rank the fourth globally. Hong Kong also continues to come first as the world’s freest economy.

Faced with a competitive external environment and rapid technology changes, it is imperative that we drive reform and innovation from a longer-term perspective, coupled with more systematic planning. I am leading the Hong Kong SAR Government in formulating Hong Kong’s First Five-Year Plan, the public consultation for which has begun. Consultation for my Policy Address also commenced this week. Hong Kong’s Five-Year Plan is a strategic, forward-looking and directional guiding document providing clear directions for Hong Kong’s economic and social development. In line with the directions and requirements of the plan, the annual Policy Address of the Chief Executive will establish a number of specific targets, report on progress, and introduce policy measures having regard to the actual situation of the year. Hong Kong will seize the opportunities brought by national development, and leverage its advantage of being connected to both the Mainland and to the world, as well as its international prospects, to bolster economic development and enable the public to better share the benefits of development.

Looking ahead, we will focus our efforts in three main areas.

First, we will press ahead with the formulation of Hong Kong’s Five-Year Plan. Hong Kong’s Five-Year Plan is taken as a vital step towards ensuring economic and social advancement. As an important vehicle for pursuing the vision of “people-oriented” governance, it covers a wide range of areas concerning people’s livelihoods and well-being, including the economy, infrastructure, healthcare, education, housing and so on. We will actively integrate into and serve the overall national development through further reinforcing and enhancing Hong Kong’s status as a premier international hub in finance, shipping, trade, and innovation and technology; promoting the development of Hong Kong as an international aviation hub; strengthening Hong Kong’s functions as a global offshore renminbi business hub; fostering the establishment of a commodity trading ecosystem; developing Hong Kong into an international hub for high-calibre talent; deepening international exchanges and co-operation; and opening up new markets to consistently promote Hong Kong’s competitiveness.

Second, we will fast-track the development of the Northern Metropolis with the vision of incorporating industries, technology and a university town, and creating an environment ideal for living, working and travelling - marking a breakthrough in Hong Kong’s development. The Northern Metropolis development has progressed from the blueprint phase to maturity. The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone was officially opened last year, with two wet laboratory buildings already completed and fully leased. Construction of five other buildings will be completed within the year, and the Government will put up the remaining land for tender. University Town, another key component of the Northern Metropolis, will comprise university town areas bearing five major elements: education, technology, talent, industries and urban development. The University Town development has expanded in scale and vision from campus sites of just 100 hectares to university town areas spanning over 1,000 hectares. This will further promote the integrated development of industry, academic and research sectors, while bringing together more high-calibre talent.

Third, we will further improve people’s livelihoods. My vision for governance has all along focused on enhancing people’s well-being, particularly in such areas as housing, transport, healthcare, education, welfare, youth development and so on, aiming to provide a better living environment for our citizens, greater prospects for young people, and enhanced care for the elderly as we work towards building an inclusive and caring community where everybody can enjoy social harmony and stability.

July 1 this year also carries another significance - for today marks the special occasion of the 105th anniversary of the founding of the Communist Party of China. As stated in the Constitution of the People’s Republic of China, leadership by the Communist Party of China is the overriding principle of the political system of the People’s Republic of China. The Hong Kong SAR, established under the Constitution, has maintained the previous capitalist system and way of life. Our common law system continues to operate, and we enjoy the free flow of people, capital, data, goods and more. The vibrancy and prosperity of our country has always been Hong Kong’s strongest backing. Later this morning, the Hong Kong SAR Government will host the launch ceremony of activities in celebration of the 105th Anniversary of the Founding of the Communist Party of China, celebrating this extraordinary and meaningful occasion with all sectors of our community.

Distinguished guests, fellow citizens, we have long braved the strong winds and waves together, and today we will set sail for new horizons. I believe that, with our unique advantages under “one country, two systems”, coupled with the resilience and drive to succeed of our citizens, Hong Kong, the Pearl of the Orient, will ride the wave of flourishing national development and sail with the wind, steering towards a brighter and more prosperous future!

This is a translation of Chief Executive John Lee’s speech delivered at the reception in celebration of the 29th anniversary of the Hong Kong Special Administrative Region’s establishment on July 1.

I am pleased to join you today for the Alatau City Round Table meeting.

I am delighted to have this welcome opportunity to return the warm hospitality my delegation and I received throughout our visit, last week, in Kazakhstan.

My thanks to the Deputy Prime Minister, here in Hong Kong leading a delegation of Kazakhstan government officials and business leaders. They cover a wide variety of sectors, from transport and infrastructure, to finance and digital development.

And I am pleased you are with us to know more about Hong Kong, and to share with us the vast opportunities of Kazakhstan and the innovative, high-tech Alatau City, fast rising at the crossroads of Europe, Central Asia and China.

The emerging smart city, with its preferential taxation and customs regulations, and administrative support for high-tech industries, is destined to become a new economic hub – for Kazakhstan, Central Asia and the wide world beyond.

Kazakhstan's impressive economy – contributing some 60% of Central Asia's collective gross domestic product (GDP) – will see to that. Last year, Kazakhstan's economy rose 6.5%, supported by strong domestic demand and abundant natural resources. Then there is your ambitious target – to double the size of Kazakhstan's economy by 2030, from 2023 levels.

I know that Kazakhstan has long been a bridge of culture and commerce on the ancient Silk Road, and that today it is a business and logistics hub with the promise of long-term, sustainable growth.

I know because I have seen Kazakhstan's dynamism for myself. The high-level business delegation I led to Kazakhstan – 75 business and institutional leaders from Hong Kong and the Chinese Mainland – represented industries spanning finance, logistics, energy, professional services and innovation and technology.

It was an honour to meet His Excellency President Tokayev (President of Kazakhstan, Mr Kassym-Jomart Tokayev) and His Excellency Prime Minister Bektenov (Prime Minister of Kazakhstan, Mr Olzhas Bektenov) during our visit, to learn from them of your country's determination to rise as the economic powerhouse of Central Asia and the wider region beyond.

My delegation held substantive talks with Kazakhstan's business leaders, and I am pleased to say that the visit resulted in eight memoranda of understanding (MOUs) and co-operation agreements between the governments of Kazakhstan and Hong Kong. 

As for our respective companies, organisations and institutions, they reached 53 accords, covering investment, green finance, logistics, innovation and more. So the total number of MOUs and agreements reached in Kazakhstan was 61 altogether; that is an outstanding result for a three-day visit.

Kazakhstan's ambitious reforms and its open, welcoming attitude towards international partners were both welcome and impressive. And Hong Kong is eager to build on this momentum, to explore wide-ranging business and investment co-operation with Kazakhstan – Alatau City very much included.

I can tell you Hong Kong shares your commitment to openness and connectivity. Under the unique "one country, two systems" principle, we are the only world city to combine the China advantage and the global advantage.

Hong Kong is built on the rule of law and a common law system similar to most global financial centres. We maintain a low and simple tax regime, with no sales or capital gains tax and no estate duty. We enjoy the free flow of information, capital, goods and talent. Our workforce is multi-talented, multi-lingual and well versed in the business practices of Asia and the wider world.

Hong Kong is ranked No.1, globally, in economic freedom. The Global Financial Centres Index ranks Hong Kong third in the world and first in Asia, while last year's World Competitiveness Yearbook placed us third, globally – up two places over the previous year.

Let me give you a recent example of what that means in practice. Last September, the Development Bank of Kazakhstan raised 2 billion renminbi on Hong Kong's offshore market through a "dim sum" bond issuance – the first issuance of its kind by a Central Asian entity.

Today, some 500 Kazakhstani students are studying in our publicly funded universities, making them one of the largest groups in our Belt & Road student community. And I am pleased to add that many of them are here on the Hong Kong Special Administrative Region Government's Belt & Road Scholarship, which covers tuition fees for outstanding students from Belt & Road countries studying in our institutions.

Ladies and gentlemen, Hong Kong and Kazakhstan can develop a hub-to-hub working relationship, with Hong Kong as a hub to East Asia, South Asia and the Association of Southeast Asian Nations (ASEAN) region, and Kazakhstan as a hub to Central Asia. And Hong Kong can contribute to the future success of Alatau City in three concrete ways.

First, Hong Kong can become your gateway to global capital. Our stock exchange is one of the world's largest, and our asset management sector is underpinned by deep liquidity. Earlier this year, we were recognised as the world's largest cross-boundary wealth-management centre.

Kazakhstani companies and funds can confidently issue bonds, raise equity or launch initial public offerings in Hong Kong. And, thanks to our world-class professional services, you will find it easy to do so. We are well positioned to help Kazakhstan fund high-potential infrastructure and innovation projects. We speak the language of global finance – and we look forward to doing so with Kazakhstan – with you.

Second, Hong Kong is your gateway to China, our country. I know your delegation visited our neighbouring city of Shenzhen and have seen, first-hand, the city's remarkable rise in innovation and technology.

Hong Kong and Shenzhen are two of the 11 cities in the Guangdong-Hong Kong-Macao Greater Bay Area, a cluster-city development counting more than 88 million people and a combined GDP similar to the world's 10th-largest economy.

Hong Kong has unparalleled access to the Mainland market. Last year, we set up the dedicated GoGlobal Task Force to help Mainland enterprises build overseas markets, Kazakhstan included.

Through our professional services, in law, accounting, finance and much more, Kazakhstani enterprises can partner with Hong Kong, accessing supply chains throughout the Mainland, the rest of Asia and the world beyond.

Third, Hong Kong is your partner in talent and technology. Hong Kong is the only city in the world with five universities in the global top 100. The innovation cluster formed by Hong Kong, Shenzhen and Guangzhou, which brings together Hong Kong's research strengths and the Mainland cities' innovation and manufacturing capabilities, was ranked No.1, globally, last year by the World Intellectual Property Organization.

And I am delighted to add that Hong Kong has its own Alatau – the Northern Metropolis. Spanning one-third of our city's geographic area, and close to the Mainland boundary, the Northern Metropolis is designed to become Hong Kong's fast-beating I&T heart, as well as an urban centre and university town.

We are now streamlining procedures and drawing up preferential policy packages to help businesses, and a world of investors, settle smoothly into the Northern Metropolis. And we will formulate dedicated legislation to fast-track the Northern Metropolis' development.

Ladies and gentlemen, Hong Kong builds connectivity. We share a development vision with Alatau City and Kazakhstan. Today, right here, right now, is a golden opportunity to bring our two economies closer together.

I wish you all a rewarding round table session, and the best of business today and a memorable stay in Hong Kong, Asia's world city. Thank you.

Chief Executive John Lee gave these remarks at the Alatau City Investment Round Table on June 11.

Welcome to Hong Kong, and the Global Mediation Summit of the IOMed – the International Organization for Mediation. Today's global gathering comes on the first anniversary of the signing ceremony for the Convention on the Establishment of the IOMed.

The inauguration of IOMed followed, last October, here in Hong Kong. That cheering event has placed much expectation and hope, worldwide, on the new institution and its promise of contributing to the peaceful settlement of international disputes through mediation – and doing so in line with the United Nations Charter.

I am pleased to note that, since last October's inauguration ceremony, the number of signatory states has climbed from 37 to 41, while the number of contracting states has gone from eight to 13.

In these perilous times, when global affairs have become increasingly complex and volatile, the pursuit of peace – and peaceful resolutions – is imperative. Which makes today's summit especially timely.

And it is a great pleasure to see more than 400 leaders, policymakers and distinguished professionals from 48 countries and regions gathered, here in Hong Kong, to share their invaluable experience and insights on international mediation.

Hong Kong has long supported mediation. Mediation echoes concord and co-existence, creating co-operation where there was conflict. Concord and co-existence are values deeply rooted in Chinese culture. They are indispensable for resolving disputes and restoring trust. They preserve relationships, encouraging meaningful co-operation between disputing parties.

Hong Kong is committed to becoming a global mediation capital, and we are well-positioned to do so.

Under “one country, two systems”, Hong Kong is a thriving hub for international finance, shipping and trade. We benefit from our country's strong support and the opportunities it gives us, while maintaining extensive international connectivity as a world city.

Indeed, the recent Global Financial Centres Index ranked Hong Kong third, globally, and first in fintech offerings, banking, finance and insurance, while claiming second place in investment management. And we topped the entire Asia-Pacific region.

Our status as a leading financial centre and global investment hub is reinforced by our robust rule of law and legal system, the cornerstone of our longstanding success.

Hong Kong is the only common law jurisdiction in China, our country. And our legal professionals are internationally acknowledged for their professionalism and integrity.

And now, as IOMed's headquarters, Hong Kong is at the very heart of global dispute resolution and its promising future.

The National 15th Five-Year Plan, I am pleased to note, has expressed support to IOMed. That ensures that Hong Kong will play a key role in the peaceful resolution of disputes by mediation, long down the road.

And I can assure you that Hong Kong will continue to build on our partnership with the International Organization for Mediation. Together, we will work to develop Hong Kong as a global mediation centre, and we invite governments, companies, investors and others to make optimal use of the mediation services provided by IOMed, right here in Hong Kong.

Our commitment to mediation, locally and globally, is clear in the five-day Mediation Week programme that ends today with this summit. Mediation Week events spotlighted disputes related to schools, sports, neighbourhoods and the elderly. The goal in each case was to apply mediation structure and skills to achieve peaceful and rational solutions to our problems.

And that, ladies and gentlemen, is exactly what today's world, fraught with geopolitical tensions and disorder, is desperately in need of.

I wish you all a rewarding Global Mediation Summit and a memorable stay in Hong Kong, Asia's world city. And soon enough, the world's mediation city.

Chief Executive John Lee gave these remarks at the Global Mediation Summit on May 8.

It is a pleasure to join you once again at the LME Asia Metals Seminar. My thanks go to HKEX (Hong Kong Exchanges & Clearing Limited) and the LME (London Metal Exchange) for hosting this annual event. To international visitors who have travelled from around the world, a very warm welcome. Your presence testifies to Hong Kong's pivotal role as a global financial and trading hub, and increasingly, as an important member of the global metals community.

A changing landscape of metals

When we met here last year, I spoke about the strong momentum in global non-ferrous metals trade. Over the past year, that momentum has not only continued, but strengthened. In 2025, global LME trading volumes averaged around 760,000 lots a day, an 8% increase over the record set in 2024. In 2026, the figure so far has further risen to close to 900,000 lots per day.

Driving the structural demand are forces we all know well: the global push for AI (artificial intelligence) and data infrastructure, electric vehicles, renewable energy systems and advanced manufacturing, for which non-ferrous metals are essential input materials. Indeed, as technological innovation accelerates across applications, so will the demand for the metals that make them possible.

But the world we face today has grown more complex and, sadly, more uncertain and volatile.

Over the past few years, tariffs, conflicts and supply chain shocks have fundamentally reshaped global trade patterns. Trade flows are being rerouted. The geography of metals trade is being reconfigured in ways that are likely to endure.

The ongoing war in the Middle East has added further pressure to the metals trade. Many base metals, such as aluminium, copper and zinc, are seeing heightened volatility as shipping routes are disrupted and market participants price in geopolitical risk.

The implications of these developments are clear: reliable, stable supply chains for non-ferrous metals have become a strategic imperative.

Hong Kong's strategic position

It is against this backdrop that Hong Kong's role as a trading hub for these metals takes on an even greater significance and a deeper strategic purpose.

Global trade is becoming more regionalised. Buyers increasingly value resilience over efficiency alone. At the same time, China and ASEAN (Association of Southeast Asian Nations) countries are deepening industrial integration and supply chain collaboration. In this environment, the region needs a platform it can trust: for trading, for price discovery and for getting deals done.

Our country's 15th Five-Year Plan, for the first time, explicitly supports Hong Kong to build a commodity trading ecosystem. This is a mandate that Hong Kong can – and should – become: a commodity trading hub that connects the Chinese Mainland and regional supply chains with the international market.

Hong Kong's unique business proposition rests on two important foundations under the “one country, two systems” framework.

First, Hong Kong is a free port – with zero tariffs, super efficient customs, unrestricted movement of goods and capital, as well as world-class logistics and maritime connectivity. As geopolitical tensions rise and global supply chains are being reconfigured, our role as a regional re-export hub is becoming even more important. Last year, despite the tariff war, Hong Kong's total goods exports went up by more than 15% year on year.

Particularly noteworthy is the performance of non-ferrous metals exports, which rose by nearly 35% last year. That strong momentum has continued. In the first quarter of this year, such exports grew by 170% year on year.

Second, Hong Kong has exceptional institutional strengths and deep capabilities in financial and professional services. We maintain full alignment with international standards, the common law system and independent dispute resolution mechanisms. And we offer a full range of services, from trade finance and marine insurance to derivatives and risk management tools. The depth of this ecosystem is what can elevate a trading and logistics hub into a trading, logistics and pricing centre for metals.

What we are building

Indeed, over the past year, we have moved decisively to realise our strategic vision. We are building tangible infrastructure and offering attractive incentives.

We have established a Strategic Committee on Commodities, which I chair. The committee is developing a long-term strategy covering physical trade, financial transactions, logistics and connectivity with the Chinese Mainland. It takes a whole-of-ecosystem approach that goes well beyond any single initiative. 

Our warehousing collaboration with the LME is an important part of this effort. A strong physical market, supported by ample delivery points, is what anchors credible benchmark prices. Since the LME approved Hong Kong as a delivery point last year, our network has rapidly grown to 15 warehouses. More than 24,000 tonnes of LME metals are already on warrant.

We know this network must continue to expand, given the sheer and growing scale of trading activities in this region.

A strong physical delivery network does more than improve supply reliability for regional buyers. It also strengthens the price discovery process by bringing regional demand more directly into the LME pricing and settlement infrastructure. In addition, it helps reduce the premium that regional buyers have historically paid because of longer delivery distances from other Asian delivery points.

On the legal and tax front, we will introduce legislation in the first half of this year to provide a 50% profits tax concession for eligible commodity trading activities. This will make Hong Kong more cost competitive when compared with other leading global commodity hubs.

Gold deserves some mention here, because it goes hand in hand with our broader strategy to develop commodity trading. The centre of gravity in gold trading is shifting eastward, as Asia accounts for around 60% of the world's annual gold demand.

To better capture these opportunities, we are building a central clearing system for gold, with trial operations scheduled for this year. Meanwhile, the Hong Kong Airport Authority is fast expanding the gold storage capacity, with a target of exceeding 2,000 tonnes within three years. Last month, Hong Kong also listed a new gold ETF (exchange-traded fund) with physical redemption options.

As the global commodities market continues to grow in both scale and complexity, the need for efficient and specialised dispute resolution mechanisms is becoming ever more pressing. We believe Hong Kong, as an international dispute resolution centre, can make a meaningful contribution in this regard.

I am pleased to let you know that the HKSAR (Hong Kong Special Administrative Region) Government and the International Organization for Mediation, or the IOMed, are exploring the possibility of establishing a special panel of mediators for commodities market disputes under the IOMed. This will provide a neutral, expert-led mediation mechanism for disputes arising across the commodities value chain, covering upstream mining and production, midstream trading and clearing, as well as downstream warehousing and delivery.

This initiative complements our strategy to develop Hong Kong into a leading gold and commodities trading hub, and helps facilitate cross-border transactions, mitigate risks and strengthen market confidence among global market participants.

Future directions

Looking ahead, the prospect for Hong Kong's metals business is highly promising. In this year's Budget, I set out the Finance+ strategy to foster greater synergy between our financial services sector and other key industries. Metals is one of the most compelling areas for this application. There are several directions with particularly strong potential.

First, building a full financial lifecycle for metals. Our ambition is for Hong Kong to be a place where every major financial need of a commodity business can be satisfied: from commodity-backed finance and derivatives, to marine and trade insurance, as well as sustainability-linked instruments.

We are also pleased to see more metals and minerals companies establishing in Hong Kong. We welcome them to list on our stock exchange to access both international and Mainland capital. They are also welcome to manage their global operations and corporate treasury activities from this city.

Last year, a mining company operating Kazakhstan's largest tungsten mine did a concurrent listing on both our stock exchange and the Astana International Exchange. It was the first of its kind. We are sure more will follow.

Second, promoting the use of RMB (renminbi) in commodity pricing. China now accounts for over half of global base metal consumption. Its continued investments in new energy, AI and the tech sector will certainly sustain this demand for years to come.

Looking ahead, there is clear room for more RMB-denominated commodity products in Hong Kong for both Mainland and international participants. This will help them manage their currency risks, and give China a more proportionate voice in global commodity benchmark pricing.

Third, enhancing market connectivity. For metals users across the region, deeper connectivity means greater liquidity, sharper price discovery and lower hedging costs. We will actively explore mutual market access in metals between Hong Kong and key markets around the world. This could include the cross listing or mutual listing of products such as metals ETFs and other exchange-traded instruments.

Just as Stock Connect and Bond Connect have transformed Hong Kong's equity and fixed income markets, there is clear potential to explore similar “Connect” arrangements in commodities. This is a longer-term project, but one that we are working towards with our partners on the Chinese Mainland.

Concluding remarks

Ladies and gentlemen, let me conclude with a thought about purpose.

If one word sums up the changes driving the world today, it is innovation. The AI era is reshaping economies and industries through advances in technology, products, business models and applications. In that process, metals are coming back into sharper focus as the building blocks of the real economy. They are no longer seen only as industrial inputs, but increasingly as part of the technologies, products and investment themes that people can readily relate to.

Developing a more vibrant metals ecosystem here in China and Asia, where production and supply chains are closely interlinked, will be vital not only to supporting more stable economic growth across our region and the world, but also to creating new opportunities for industrial development, investment and financial market development.

Hong Kong has the infrastructure, the institutions, the connections, the capital, the talent and now the national mandate to serve that purpose well. We are committed to doing so, in partnership with the LME, HKEX and all of you here today.

Financial Secretary Paul Chan gave these remarks at the LME Asia Metals Seminar 2026 on May 7.

I am delighted to witness with you today's MOU (Memorandum of Understanding) signing.

This is a real milestone: the Hong Kong Special Administrative Region Government and the Dongguan Government leading EcoCeres to build in Dongguan a sustainable aviation fuel value chain right here in the Greater Bay Area.

Traditional aviation fuel carries a heavy carbon footprint. Sustainable Aviation Fuel, SAF, cuts lifecycle emissions by more than 80%. That is a substantial step toward greener aviation.

The collaboration between Hong Kong and Dongguan is the realisation of the executive-led governance of Hong Kong and also the joint working of effective government and an efficient market. It is also an excellent example of synergy of the two places.

Hong Kong brings global finance, professional services and research capabilities. Dongguan brings mature chemical industry parks, logistics, and a steady supply of used cooking oil – the essential raw material for SAF. Together, we form a powerful combination.

The company at the heart of this project is EcoCeres. Incubated in Hong Kong, it has developed proprietary technology to turn waste cooking oil into internationally certified sustainable aviation fuel, SAF. That is why it holds a leading position in the global market.

Ladies and gentlemen, the world faces energy disruptions. But Hong Kong, under “one country, two systems”, enjoys a unique advantage: strong support from the motherland and close connections to the world. We can turn green challenges into green opportunities.

Today's MOU means policy alignment, co-ordinated resource mobilisation, and joint action between Hong Kong and Dongguan. We are linking the entire supply chain, from raw materials to production. That will drive investment and support our country's carbon reduction goals.

Looking ahead, we will continue to deepen Hong Kong-Guangdong collaboration. More policy connectivity. More resource sharing. More green projects.

Together, we will build a cleaner, greener future – for Hong Kong, for Dongguan, for the Greater Bay Area, for our country and for the world.

Chief Executive John Lee gave these remarks at the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan on May 5.

It is a great pleasure to be here today for the groundbreaking of the Hong Kong University of Science & Technology (HKUST) Medical Education & Research Complex. I am delighted to witness this milestone with you – Hong Kong's third medical school is now taking shape.

The National 15th Five-Year Plan supports Hong Kong in becoming an international hub for high-calibre talent. A new medical school will help turn that vision into reality, attracting and training top talent in healthcare and higher education. It will also contribute to a Healthy China, one of the Five-Year Plan's key goals, by deepening collaboration with the Chinese Mainland.

Equally important, the new medical school will ensure better quality, greater efficiency, and higher capacity in our healthcare and medical services. It will increase local doctor training, easing manpower shortages. It will help us meet the challenges of an ageing population.

Beyond these, HKUST's medical school will develop differently from our two existing ones. That will create synergy, drive innovation, generate multiplier effects, and raise our medical-education capabilities. Hong Kong is fast emerging as an international centre for medical training, research and innovation. Building a third medical school will get us there that much faster.

We are moving decisively to bring these benefits to Hong Kong. Last November, I approved HKUST's proposal, agreeing in principle to launch a four-year, graduate-entry medical programme. It offers a combined bachelor of medicine and bachelor of surgery degree. About 50 students will make up the first cohort, starting in the 2028-29 academic year.

HKUST's winning bid followed a rigorous assessment process by the Task Group on New Medical School and its expert advisors. They fully recognised HKUST's innovative strategy, its financial commitment and its ability to deliver.

To turn this decision into reality, the Government has set up three working groups under the Task Group. The members include relevant government departments and outside experts, such as the Chairman of the Medical Council of Hong Kong.

These groups will now work with HKUST on every stage of implementation, advising on curriculum, finances and more. I am sure HKUST will also work closely with the Medical Council to complete course accreditation and advance all fronts.

Our goal is clear: to ensure that the new medical school and its teaching hospital become a key pillar of Hong Kong's medical teaching and service system. The Government is backing this commitment with substantial resources. We have set aside funding, on a matching basis, to support HKUST.

We have also reserved land at Ngau Tam Mei in the Northern Metropolis. That land is for the medical school's permanent campus and an integrated hospital of medical education, research and patient care. We will also work with HKUST on the development and operational model for the new hospital.

Today's groundbreaking ceremony, here at the Clear Water Bay campus, is a tangible step forward. The eight-storey complex will rise as one of the core facilities of the medical school. It is scheduled for completion in mid‑2028, just in time to welcome the first cohort of students. It will support the school's phased development, and its technology-enabled teaching, for years to come.

Ladies and gentlemen, I have every confidence in HKUST. It enjoys an outstanding international reputation in science and life sciences, as well as engineering and business. The new medical school will take full advantage of these formidable strengths to create its own medical education and research foundations.

It will nurture a new generation of doctors with professional expertise, technological command, a global perspective, and a patient-centred philosophy. It will raise Hong Kong's research and medical-education capabilities.

This is the future we are building – for Hong Kong, and for every patient who will one day be healed by the doctors trained here. Let's build it together.

Chief Executive John Lee gave these remarks at the Groundbreaking Ceremony for the HKUST Medical Education & Research Complex on April 28.

It gives me great pleasure to welcome you to Hong Kong for Global Talent Summit Week, the second edition.

This year, we welcome some 7,000 of you from around the world. You are here because Hong Kong is fast rising as an international talent hub. This week, you will see exactly why.

Global Talent Summit Week features the International Talent Forum and the CareerConnect Expo. The forum, under the theme “Connecting Global Minds”, puts a welcome spotlight on education, technology and talent, and their essential integration.

CareerConnect Expo offers five thematic zones and participation from about 70 companies, education and technology institutions and government departments. Companies engage directly with professionals seeking fresh opportunities and partnerships, here in Hong Kong and in the Greater Bay Area.

New this year are nine satellite events, focused on talent and human resources. They include conferences, recruitment fairs and corporate award ceremonies.

The collective result, I am confident, will be a week, and more, of high-powered insight and intelligence covering careers, talent development and wide-ranging possibilities.

Ladies and gentlemen, we are in a time of profound global transformation, with artificial intelligence, digital innovation and accelerated technological advancements reshaping industries and redefining skills. Equally unsettling is the impact of demographic change on global talent.

Finding and retaining talent have become central to economic strategy and public policy worldwide. Governments and companies alike recognise that competitiveness no longer depends solely on capital or physical infrastructure, but above all, on people, their knowledge, creativity and adaptability.

Hong Kong, I am here to tell you, approaches this global challenge with clarity, commitment and determination.

Thanks to the “one country, two systems” principle, Hong Kong benefits from the strong support of our country, China, while maintaining extensive international connectivity.

This unique advantage allows us to remain a highly open, globally engaged economy, firmly anchored within the high-quality development of our country.

We serve as a "super connector” and “super value-adder”, connecting the Chinese Mainland and global markets, enabling the free flow of capital, information, technology and people. International companies and investors access opportunities in our country through Hong Kong, while Chinese Mainland enterprises engage confidently with the world here.

And guided by the national strategy, we are strengthening our roles and focus, enhancing Hong Kong’s status as an international financial, shipping and trade centre and an international aviation hub, and, among others, building an international hub for high-calibre talent. These policy priorities offer high-quality and high-value opportunities for global talent across a wide range of disciplines.

Our strategy is comprehensive and forward-looking. We integrate talent development with economic transformation, technological advancement and regional co-operation.

We are expanding partnerships among universities, research institutions and industries to accelerate innovation, research commercialisation and entrepreneurship.

Hong Kong is the only city in the world with five universities ranked among the global top 100. (I) remind you, Hong Kong is a small city: we only have 1,100 square kilometres. Building on this international recognition, we are increasing pathways for graduates and researchers to translate knowledge into practical solutions and enterprises.

We are fast-tracking development of the Northern Metropolis - an area bordering Shenzhen and covering one third of Hong Kong’s landmass - as an international innovation and technology centre.

We are developing co-operation within the Greater Bay Area, which is an area with a combined population of over 87 million and a strong manufacturing and innovation base across 11 cities. The Greater Bay Area offers immense opportunities for cross-boundary collaboration and talent mobility.

No less important, Hong Kong remains firmly committed to openness and internationalisation. Our rule of law, independent judiciary and dependable institutions provide stability and confidence.

Our simple and competitive tax regime, and open and internationalised business environment, attract companies and investors from around the world.

Quality of life is another Hong Kong strength. We offer world-class public services and transport, together with a bountiful, East-meets-West cultural scene.

Our efforts, I am pleased to say, have been widely recognised. In the International Institute for Management Development’s World Talent Ranking 2025, Hong Kong rose to fourth, globally, from ninth position the year before, while ranking first in Asia.

This achievement reflects the strength of our education system, the openness of our economy and the vitality of our institutions. It reflects a telling vote of confidence from global talent.

As of the end of February, we have approved over 410,000 applications under our various talent admission schemes. And more than 270,000 professionals have arrived in Hong Kong.

Building a global talent hub requires constant renewal, active engagement and sustained collaboration. Global Talent Summit Week fully embodies this commitment, turning the entire week into a dynamic exchange of ideas and opportunities.

In connecting policymakers, industry leaders, scholars and professionals, it creates networks and partnerships that will endure long beyond this week.

But even as global competition for talent intensifies, our objective should not be to outcompete one another. Rather, our goal must be to expand opportunities through co-operation and shared progress.

Hong Kong has long embodied that ideal. And we will continue to uphold openness, deepen international engagement and align closely with our national development strategies.

We will further refine our policies in education, innovation and infrastructure, ensuring that our city remains a fertile ground for ideas and enterprises, (so) that talent from around the world feels welcomed, valued and supported here.

Above all, we will continue to place people at the centre of our vision for the future. Economic indicators and technological achievements are important, but human development remains our ultimate goal.

When individuals are free to realise their potential, innovation flourishes, economies develop and advance and societies thrive.

Ladies and gentlemen, Global Talent Summit Week reflects our shared belief that talent transcends borders and connects the world.

I wish you all a productive and inspiring summit week. And find time to enjoy the art, culture and entertainment that Hong Kong, Asia’s world city, has long been celebrated for.

Chief Executive John Lee gave these remarks at the Global Talent Summit Week on March 18.