John Lee urged to go bolder on reforms
SCMP · 1 SOURCESabout 1 hour ago2 MIN
Summary
An opinion article says Chief Executive John Lee Ka-chiu now faces a key test of whether his 2022 pledge to open a “new chapter” for Hong Kong can be turned into broader, bolder reform. It argues that while groundwork has been laid in finance and planning, his next policy address must set out a fuller transformation agenda beyond the Northern Metropolis.
Key Points
- The article says Lee was right to consult the public at the same time on Hong Kong’s first five-year plan and the final policy address of his current term.
- It argues Lee needs to be bolder than he has been since his 2022 election promise of a “new chapter” for Hong Kong.
- The Northern Metropolis is described as only one part of the city’s transformation, with the coming policy address expected to explain the rest.
- Hong Kong is already the world’s largest offshore yuan trade settlement centre, and offshore Chinese government bond futures were recently launched in the city.
- The piece says Beijing’s 15th national five-year plan gives Hong Kong a role in yuan globalisation, and market voices want more yuan products, commodity trading infrastructure, broader talent and fintech innovation.
Why It Matters
The argument is that Hong Kong cannot rely on its existing status as a global financial centre and wait for opportunities to arrive on their own. If Lee’s administration does not match financial-sector readiness with wider reform, the promised “new chapter” may look incomplete to businesses, investors and the public.