Today marks the 28th anniversary of the establishment of the Hong Kong Special Administrative Region and the third anniversary of the current government. Over the past three years, the government has actively promoted reforms, built a safe and stable Hong Kong, and worked hard to develop the economy and improve people's livelihoods, with results gradually becoming evident.

I have changed the government culture to create a "results-oriented" government. We fulfill our constitutional responsibilities and complete the local legislation of Article 23 of the Basic Law, a significant task that previous governments have long failed to achieve. We have rebuilt a safe Hong Kong, and this year, Hong Kong ranks seventh in the global safety index.

The government is fully committed to solving land and housing issues. The waiting time for public housing has been reduced by about nine and a half months, from 6.1 years to 5.3 years. We are cracking down on the abuse of public housing resources, recovering about 8,700 units, equivalent to 11 public housing blocks, saving approximately HKD 8.7 billion in construction costs. We are rapidly constructing light public housing, which will accommodate over 9,500 families this year, alleviating urgent housing needs.

Since taking office, Hong Kong's economy has shifted from negative growth to positive growth, with the median monthly household income increasing by HKD 3,000, an increase of over 11%. We value labor rights, abolishing the offsetting arrangement for the Mandatory Provident Fund, and reducing the minimum wage review cycle from two years to one year.

We have strengthened market connectivity, relaxed listing requirements for biotechnology and professional technology companies, established a stablecoin licensing system, simplified listing procedures, and enhanced the competitiveness of the financial industry. Hong Kong's financial center ranking has risen by one place, now ranking third globally.

We strive to attract talent, seek enterprises, and draw investment. Over 210,000 professionals, top talents, and quality immigrants have come to Hong Kong, enhancing the city's competitiveness. We have attracted 84 cutting-edge technology companies to set up operations, bringing in about HKD 50 billion in investment and creating over 20,000 job opportunities. We have simplified the company relocation system, and two large global insurance companies have expressed their willingness to relocate. Hong Kong's ranking in the World Competitiveness Yearbook has risen for two consecutive years, from seventh to third; in the global talent ranking, we have returned to the top ten, rising seven places to ninth.

In the economic transformation, Hong Kong faces challenges and opportunities. With the advantages of "one country, two systems," opportunities far outweigh challenges. Looking ahead, the government's three main tasks are as follows: First, ensure high-quality development with high-level security guarantees. We will actively coordinate security and development, firmly safeguard national security under "one country, two systems," seize national opportunities, integrate into the national development landscape, promote economic growth, and assist enterprises in upgrading and expanding markets. We will deepen international exchanges, explore new markets, provide supply chain services, expand regional trade, and reduce risks associated with reliance on a single market. In addition to promoting innovation technology, digital trade, and local enterprise development, we will introduce new technologies and industries, continue to attract talent and enterprises, and consolidate Hong Kong's position as an international financial, shipping, and trade center.

Second, accelerate the development of the Northern Metropolis. The Northern Metropolis occupies about one-third of Hong Kong and will accommodate one-third of the population in the future, becoming a new engine for development. We will introduce new concepts and methods, eliminate obstacles, leverage market forces, enhance the development efficiency of the Northern Metropolis, San Tin Technological City, and the Hong Kong-Shenzhen Innovation and Technology Cooperation Zone, focusing on industries and innovative technologies, attracting global research talents, and promoting Hong Kong as a high-end talent center.

Third, proactively improve people's livelihoods. We are committed to making Hong Kong a more livable and business-friendly place, allowing citizens to enjoy a better living environment, enabling young people to realize their potential, and providing care for the elderly. The government will continue to improve housing, healthcare, education, and welfare, accelerate public housing supply, shorten waiting times, and ensure timely supply of light public housing. The registration of compliant basic units will start in March next year, replacing non-compliant subdivided units. We will deepen healthcare reform, enhance public and primary healthcare services, implement targeted poverty alleviation, and focus on vulnerable groups. In terms of transportation, we will promote the "Blueprint for Major Transport Infrastructure Development in Hong Kong," advancing projects such as the Hong Kong-Shenzhen Western Railway, Tuen Mun Line, and smart green public transport systems.

As the ancient Chinese saying goes: "Is there anything in the world that is difficult or easy? If you do it, then what is difficult will also be easy; if you do not do it, then what is easy will also be difficult." We prefer to be reformers who face challenges rather than complacent idlers. In the face of changing geopolitical dynamics and uncertainties, Hong Kong demonstrates the certainty of safety, stability, and development opportunities, which the world needs. Hong Kong is the intersection of national and global opportunities. As long as we seize opportunities, enhance value and competitiveness, pursue reforms, and embrace innovation, I firmly believe that the wisdom and experience of Hong Kong people will make the Pearl of the Orient shine even brighter on the world stage!

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