Chief executive John Lee’s maiden speech

Hong Kong Chief Executive John Lee on Wednesday declared initiatives to draw in talent and expenditure to the town.

In his very first plan deal with considering the fact that he took office environment in July, Lee claimed the government would established aside billions to bring in businesses to the city, and start a so-identified as prime expertise go plan to “entice skills to go after their occupations in Hong Kong.”

People who become long-lasting citizens can use for a refund of excess stamp duty compensated on properties in the town, he explained.

Hong Kong has shed thousands of citizens given that the pandemic started, worsening a “mind drain” from the international monetary hub.

The Dangle Seng index in Hong Kong state-of-the-art a little bit in early trade just before giving up people gains. Forward of the speech, it was down much more than .8%. It fell far more than 1% throughout the speech.

Lee, a Beijing loyalist, was the only candidate in the election in Could to exchange his predecessor Carrie Lam. All over 1,500 members of a largely pro-Beijing election committee voted, and Lee received 1,416 votes to turn into Hong Kong’s top chief.

Hong Kong was a British colony prior to it was handed to China in 1997 to be ruled under a “one state, two devices” framework. Hong Kong was promised autonomy for 50 years and has freedoms that other Chinese metropolitan areas do not have, which includes limited election rights.

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