2023 Policy Address (Extract)

II. Challenges and Opportunities

11. The Central People’s Government has rendered firm support to Hong Kong for our economic development to fully capitalise on our distinctive advantages under the “One Country, Two Systems” principle. We must fully leverage these advantages. That means proactively integrating into our country’s development, serving well as the hub connecting the domestic and global markets, participating in and promoting such national strategies as the Guangdong‑Hong Kong‑Macao Greater Bay Area (GBA) and the Belt and Road (B&R) Initiative. It also means making good use of the Closer Economic Partnership Arrangement (CEPA) and related measures, while realising Hong Kong’s development of “eight centres” as outlined in the 14th Five‑Year Plan. Given our country’s pursuit of high‑quality development and market expansion, these, and other initiatives, present unlimited, long‑term promise for Hong Kong.

V. Continue to Create Strong Impetus for Growth

Raise Competitiveness

Establish the Hong Kong International Legal Talents Training Academy

58. We will set up a dedicated office and an expert group within next year to take forward the establishment of the Hong Kong International Legal Talents Training Academy. Capitalising on Hong Kong’s bilingual common law system and international status, the academy will regularly organise practical training courses, seminars, international exchange programmes, etc. to promote exchanges among talents in regions along the B&R. It will also provide training for talents in the practice of foreign‑related legal affairs for the country, and nurture legal talents conversant with international law, common law, civil law and the country’s legal system.

Dovetail with National Strategies and Enhance the Development of the “Eight Centres”

Expand our Global Economic and Trade Networks

65. We will expand our global economic and trade networks and promote regional co‑operation. While keeping our close ties with the European and the American markets, we will also expand our reach to the B&R markets, including those of ASEAN, the Middle East, Central Asia and Africa. To that end, we will:

    • explore business opportunities with Mainland enterprises – We will organise more outbound missions with Hong Kong and Mainland enterprises to promote business opportunities for our professional services together with Mainland partners. We will also organise visits to the GBA for overseas enterprises operating in Hong Kong;
    • set up additional offices for business and trade along the B&R – We will strengthen our trade promotional efforts in these emerging countries; and
    • strengthen regional co‑operation – The Government will continue to consolidate business co‑operation and connections with the markets of ASEAN and the Middle East, etc. and strive for Hong Kong’s early accession to RCEP. We will sign an investment agreement with Türkiye soon, and are negotiating a free trade agreement with Peru, plus investment agreements with Bahrain, Bangladesh and Saudi Arabia respectively. These would provide Hong Kong enterprises with legal protection and better market access.

VIII. Hong Kong will Prosper Only When its Young People Thrive

Build an International Hub for Post‑secondary Education

158. Hong Kong’s post‑secondary education is international and highly diversified. Hong Kong is acclaimed to be the only city with five universities in the world’s top 100. We will develop Hong Kong into an international hub for post‑secondary education. This would bring benefits to our local students and help widen their international perspectives. This would also inject professional vibrancy and growth impetus to our post‑secondary education, enhancing Hong Kong’s status as an international city and taking our post‑secondary education to a higher level. To this end, we will:

     • increase the admission quota of non‑local students to Government‑funded post‑secondary institutions – Starting from the 2024/25 academic year, the admission quota of non‑local students to Government‑funded post‑secondary institutions will be doubled to 40%. The institutions may take into account their capacity to proceed, step by step, with admission of more non‑local students, especially students from B&R countries and from the Mainland, and stand to expand capacity and enhance standard through their high‑quality teaching and supporting facilities;
     • expand scholarship schemes – In the last academic year, some 2 500 students from the B&R countries were recipients of the B&R Scholarship and various scholarship schemes of UGC‑funded universities. We will inject $1 billion into the Government Scholarship Fund such that starting from the 2024/25 academic year, the quota of the B&R Scholarship will increase by 50%, and the quota of the Hong Kong PhD Fellowship Scheme by one‑third gradually, from 300 to 400 places per academic year. These will help attract more outstanding talents to study and conduct researches in Hong Kong. We will also continue with the Hong Kong Scholarship for Excellence Scheme, supporting annually around 100 outstanding local students to pursue their studies in world‑renowned universities outside Hong Kong to broaden their global perspectives;

Annex: Indicators for Specified Tasks

Indicators for Specified Tasks in 2023 Policy Address

(I) New Indicators

Attract Businesses, Talents and Investment

17. Set up a dedicated office and an expert group within 2024 to establish the Hong Kong International Legal Talents Training Academy for promoting exchanges among talents in regions along the B&R and nurturing legal talents conversant with international law and the country’s legal system.

International Trade Centre

25. The InvestHK and the HKTDC to set up two new consultant offices along the B&R within 2024‑25.

Education

68. Press ahead the building of an International Hub for Post‑secondary Education:
    • Starting from the 2024/25 academic year, increase the quota of the B&R Scholarship by 50%, and gradually increase that of the Hong Kong PhD Fellowship Scheme by one‑third from 300 to 400 places per academic year, in order to attract more outstanding talents to study and conduct researches in Hong Kong.

(II) On‑going and Valid Indicators for Specified Tasks Introduced in the 2022 Policy Address

International Trade Centre

26. Continue to promote Hong Kong as the functional platform for the B&R Initiative in 2024:
    • Organise promotional programmes and networking sessions to be attended by no less than 7 400 persons;
    • Reach out to no less than 530 professional and business associations, chambers and community groups; and
    • Organise business missions to five B&R countries with about 110 participants in total.