News
Policy Address 2025: Hong Kong lowers house-purchasing money threshold to facilitate cross-border buyers
- 2025-09-17
- The Young Reporter
- By: Ye Enyi、Lan XinbeiEdited by: MAO Anqi
- 2025-09-17
Non-locals hoping to obtain Hong Kong residence through investment will be able to purchase residential property for a minimum of HK$30 million rather than the current HK$50 million, said Chief Executive John Lee Ka-chiu in Wednesday’s policy address. But the amount of the property purchase allowed to be counted towards the visa scheme eligibility of HK$30 million in investments will remain HK$10 million. This is under the New Capital Investment Entrant Scheme, which was launched on Mar. 1 last year, to help investors settle down in the city without the need to establish or join a business. As of February this year, the scheme has received 918 applications and expects to inject over HK$270 billion into the local market, according to the government’s press release in March. But among the approved applications, no applicant has made an investment in residential real estate. They all choose to invest in non-residential approved assets to meet the eligibility requirements. Wu Cheuk-him, district councillor of Tai Po, said the government’s move is positive. “I am confident that lowering the investment threshold for property purchases will draw more people to buy homes in Hong Kong, and as a result, to stimulate the local property market,” he added. Mainland residents face a stringent cap on foreign exchange conversion of US$50,000 (HK$389,000) a year, which means they cannot buy property that costs more than this with direct remittance. Viola, 26, from the mainland and working in a Hong Kong local school, said she purchased a residential property in Hong Kong at the end of 2023. She does not want to reveal her full name as she had to get creative, which may not be legal, with how she moved her money from a mainland bank into Hong Kong for the transaction. “I am constrained by the rule …
Policy Address 2025: More patriotic education on the 80th anniversary of Chinese WWII victory
- 2025-09-17
- By: CHENG Tsz Sen SeanEdited by: MA Tsz Chiu Oscar、AO Wei Ying Vinci
- 2025-09-17
Chief Executive John Lee Ka-chiu said the government is widening the scope of patriotic education provision to cover the Hong Kong public with Communist-themed tourist sites. This year marks the 80th anniversary of the end of the Second World War. Collaborating with the Shenzhen government, Hong Kong will roll out new tourist attractions highlighting the Chinese role during the Japanese invasion of British colonial Hong Kong. According to the 2025 Policy Address, the government is launching new tourist attractions to strengthen patriotism. Dubbed as “Chinese Cultural Celebrity Rescue”, a series of historic spots in Hong Kong and Shenzhen would be listed in the new red educational route. The route stems from the four-year history of the Hong Kong Independent Battalion of the Dongjiang Column’s rescue mission during the Japanese occupation. Meanwhile, Lee called on Hong Kong students and young people to visit more mainland Communist-themed tourist sites, making the sites “patriotic education bases of Hong Kong”. Wu Siu-wai, vice-chairman of Hong Kong Federation of Education Workers, told TYR in an email interview that the new red education route can allow the public to learn more about Hong Kong’s contribution to the establishment of the People’s Republic of China. Citing the existing poor outcome of patriotic education and Hong Kong youngsters’ distorted understanding of China, Wu cautioned ill-prepared patriotic education visits to the mainland might worsen the situation. Hans Yeung Wing-yu, a former manager at the Hong Kong Examinations and Assessment Authority and education policy commentator, mocked the government for not building more of its own patriotic sites. “By making the mainland’s facilities the patriotic bases of Hong Kong, does it mean Hong Kong has no ability to create its own patriotic education base?” Yeung said. Following a series of large-scale commemorative activities, including exhibitions, film screenings and library events, Hong …
Policy Address 2025: Pundits criticised industry mismatch despite the city’s Top Talent Scheme has contributed HK$34 billion to local economy
- 2025-09-17
- Society
- The Young Reporter
- By: FENG Zhenpeng、Li YinhengEdited by: LIU Yutong
- 2025-09-17
Chief executive John Lee Ka-chiu defended the controversial top talent scheme in his latest policy address but observers urged the government to address the talent mismatch by bringing in more high-tech elites. The Top Talent Pass Scheme generated around HK$34 billion a year for the local economy, accounting for approximately 1.2% of economic growth, said Chief Executive John Lee Ka-chiu, in the policy address on Wednesday. This is the first time the Hong Kong government has quantified the scheme’s economic contribution to the city in light of mounting criticism against the scheme being abused. Former chief executive Leung Chun-ying criticised last month that most applicants did not settle in Hong Kong, but returned to the mainland with their families after obtaining Hong Kong identity cards. When delivering the 2025 Policy Address, Lee said Hong Kong attracted over 230, 000 talents to work and live in the city under a number of new talent talent admission policies, including the TTPS. About 14,000 of TTPS applicants, or 54%, had their visas renewed. “Of them, 95% receive a monthly income higher than the local median income of about $20,000, and 50% earn a monthly income nearly double that amount. This reflects a strong demand for TTPS talents and the market's willingness to offer higher salaries to attract them,” Lee said most of the admitted talents to Hong Kong are relatively young, with 70% being under 40 years old, which helps to address the challenge of the aging population. However, observers did not see a picture-perfect reality. Lawmaker Wendy Hong Wen said Hong Kong lacks high-end tech talents but the TTPS is mainly bringing in talents from the finance sector. “To address the mismatch between the talent supply and industry demand, the government should adopt a demand-driven approach by enabling companies to directly search for …
Policy Address 2025: Hong Kong relaxes loan application period alleviating capital pressure for SMEs
- 2025-09-17
- Politics
- By: ZHONG Xinyun、LIN Xiaoyou、Yau Ka MingEdited by: ZHAO Runtong、BO Chuxuan
- 2025-09-17
Hong Kong to reduce capital pressure for Small and Medium-sized Enterprises by extending principal payment as well as application for guarantee products, said John Lee Ka-chiu during his fourth Policy Address speech on Wednesday. Application period for principal moratorium arrangement and 80% of Guarantee Products under the SMEs Financing Guarantee Scheme will be extended for one year and two years, respectively, said Lee. “The biggest problem SMEs face is that they have no way to borrow money,” said Cheung Ki-ling, Associate Professor in the Department of Information Systems, Business Statistics & Operations Management at Hong Kong University of Science and Technology. He explained that the decrease in customers and consumption has led to a decrease in income, so they have less to pledge as collateral, making it difficult for banks to lend them money. “(These policies) give companies more opportunities to obtain government-guaranteed loans,” wrote Tam Yiu-chuen Sam, Steering Chairman of the Hong Kong Federation of Commerce for Small and Medium Enterprises, in a written response. He explained that the measures allow SMEs longer timeframes to apply for funding while easing their capital pressure. Previously, the government’s policy had postponed the application for principal moratorium for up to 12 months in November 2024. As of March 2025, the number of small and medium-sized enterprises was 356,128, according to the government website. However, Cheng Chung-pong, chairman of the Hong Kong Small and Medium Enterprises Association, called for more measures to support local SMEs. "The support for our small and medium-sized enterprises is not that great," said Cheng. "On the contrary, I have seen a lot of mention in the policy on how to help mainland businesses." “I think the government and banks still need to review which industries truly need priority support, to prevent the number of bankruptcies from increasing,” said …
Policy Address 2025: Hong Kong to take further actions for land management in Northern Metropolis
- 2025-09-17
- Politics
- The Young Reporter
- By: CHEN Xiyun、CHEN ZiyuEdited by: CAO Jiawen
- 2025-09-17
A land use review over the Sha Po area, as part of the Northern Metropolis, a development priority proposed four years ago, will be established to discuss its development potential and the feasibility of constructing more private housing in the region, Chief Executive John Lee Ka-chiu said in his policy address on Wednesday. According to the Planning Department, Hong Kong will build 500,000 housing units in the coming decade in the Northern Metropolis for 2.5 million people. Mak Sui-choi, Associate Professor who researches finance and investment at Hong Kong Baptist University, said the Northern Metropolis may attract labour to the local industry. “The increase in Hong Kong's population is a good thing, driving the development of other local industries,” Mak said. “But the construction of the Northern Metropolis should first address the conflicting land status,” he added. According to the commissioned Farm Land Survey Report by the Chinese University of Hong Kong, most farmland in San Tin and Ngau Tam Mei has been rebranded as non-arable fields. “The first step for the government is to reacquire the land and adjust its current land status,” Mak said. “This is going to be a long and cumbersome process, but it is doable,” he added. Lee said the government will arrange three sites for the Urban Renewal Authority to build new housing in Kwu Tung North and Fanling North, areas that are part of the Northern Metropolis. While the Northern Metropolis area presented certain property development potential, a 28-year-old two-time mainland home buyer Cissy Chen opted for Kai Tak instead. “The Northern Metropolis is far away from Hong Kong Island as compared to Kai Tak, location is my main consideration when it comes to real estate investment," Chen said. She added that it would be long before infrastructures in the northern metropolis would …
Policy Address 2025: Hong Kong extends tax allowance for parents with newborns in its latest fertility push
- 2025-09-17
- The Young Reporter
- By: YANG Shuyi、Lou ZhengzhengEdited by: WANG Jing
- 2025-09-17
Hong Kong parents with newborns are set to get more tax allowance as the city strives to boost its birth rate. Currently, parents receive a HK$260,000 tax exemption in the baby’s first year, but this is going to be extended for another year, said Chief Executive John Lee Ka-chiu in 2025 Policy Address. Those with older children will continue to get HK$130,000 of their taxable income exempted. Hong Kong has been struggling with a declining birth rate, with the number of babies born dropping from 60,900 in 2016 to a low of 32,500 in 2022. In 2024, there was a slight improvement to 36,700 babies. A 36-year-old mother of a toddler from Kowloon welcomed the additional tax break. “As someone from the 80s generation, I really want to have children, this policy will help us to relieve some financial pressure,” said Ruby Tse, who is trying for a second child. Lawmaker Chan Wing-kwong, who specializes in medicine, said the allowances are a welcome addition for families trying for more children, but it would be an unlikely fertility boost for those who don’t. “The additional newborn allowance is merely a drop in the bucket when it comes to the cost of raising a child in Hong Kong,” said Lin Sen, who has been married for six years but has remained reluctant to have a baby. Lin said the intensifying competition for schools and jobs a child might face in the future deters him from giving birth. Lee also pledged more childcare resources for babies and schoolchildren. Chan said that although the direction of the current encouraging policies is right, a series of supporting measures must keep pace. The lawmaker called on the government to provide more measures for schools and job placements. “Only when the social environment can let people ‘live …
Policy Address 2025: Leveraging Kai Tak Sports Park to popularise sports in Hong Kong
- 2025-09-17
- Health & Environment
- The Young Reporter
- By: Fu RongEdited by: AU YEUNG Jim
- 2025-09-17
John Lee Ka-chiu said in this year’s Policy Address that the government will support elite sports and leverage Kai Tak Sports Park to further develop the “sports + mega events” model in Hong Kong. “We will continue to promote sports development by supporting elite sports, maintaining Hong Kong as a centre for major international sports events, enhancing professionalism in sports, developing sports as an industry and promoting sports in the community,” said Lee. The Policy Address also focused on enhancing professionalism in sports, improving the functionality and positioning of sports venues, reviewing the governance of sports and boosting the publicity of sports by the media. “Elite sports and popularisation are mutually supportive. Elite sports can promote public participation and ‘sports for all’ through the celebrity effect. Expanding the proportion of the grassroots in sports will in turn promote the selection of elites and further promote the popularisation of sports events,” said Patrick Lau, Professor and Associate Academy Director (Research) of the Academy of Wellness and Human Development of Hong Kong Baptist University. Hong Kong already plans to co-host part of this year’s National Games, the National Games for Persons with Disabilities and the National Special Olympic Games in November and December. The city’s portion of the National Games include bowling, track cycling, fencing, golf, Rugby Sevens, a triathlon, beach volleyball, men's handball and men's U22 basketball. The golf will be played in Fanling, and the Hong Kong Golf Association has announced that Xu Longyi, individual gold medalist of the Hangzhou Asian Games, will represent Hong Kong. “To attract more world-class players to compete in Hong Kong, we have agreed on a multi-year partnership arrangement with LIV Golf, one of the most important golf tours in the world,” said Lee. "Kai Tak Sports Park is an important vehicle for the eventisation …
Chief Executive John Lee Ka-chiu delivers Policy Address 2025
- 2025-09-17
- Politics
- The Young Reporter
- By: SIU Tsz HangEdited by: AO Wei Ying Vinci
- 2025-09-17
Chief Executive John Lee Ka-chiu announced his fourth policy address at 11am today. As in the case in the past three years, Lee continues to stick with green as the theme colour. His policy address mainly focuses on several areas such as promoting patriotic education, setting up an accountability system for senior civil servants to enhance governance, accelerating the development of the Northern Metropolis, improving innovation and technology industry’s development, reforming the economy and healthcare system. This year, his address lasted 174 minutes, which is his second longest in history, followed by the longest record of 202 minutes in 2023.
Policy Address 2025: Government to support low-altitude economy with new action plan
- 2025-09-17
- By: LAU Ka Yan、CHAN Hiu YingEdited by: NG Natasha Goa Sheng
- 2025-09-17
Hong Kong will create more legislation promoting the low-altitude economy, mostly focused on drone activities, said Chief Executive John Lee Ka-chiu in the policy address this morning. Potential activities in airspace under 1,000 metres include drone rescues, surveys and deliveries. Food delivery platform Keeta launched drone food delivery in a small area in the New Territories in June. Keeta, along with SF Express and Lalamove, were some of the first applicants to apply for drone activities in March. Improving civil aviation legislation and regulatory framework, promoting infrastructure facilities, organising more talent trainings, enhancing the application system and developing low-altitude economy insurance products were all mentioned in the policy address this year. More complex government plans will establish air route networks, satellite positioning, three-dimensional spatial data systems and a smart and traffic-management system for low-altitude passenger aircrafts, Lee said. “With countless islands in the city, it is a perfect scenario to apply passenger-carrying aircraft,” said Huang Hailong, assistant professor in the Department of Aeronautical and Aviation Engineering at the Hong Kong Polytechnic University and leader of the university research group on autonomous technology. “For people living on the islands who have urgent medical needs, using drones to access hospitals is more convenient and cost-effective than ships and helicopters.” “In the meantime, the government should establish clear regulations including administrative penalties to curb illegal flights, considering safety should be the first priority in developing the low-altitude economy,” said Huang. He said third-party insurance similar to car insurance can be introduced. “Low-altitude technology can also be applied to sectors including express delivery, emergency rescue and construction monitoring in the future,” said Zhang Feiyang, Research Manager of Our Hong Kong Foundation and one of the authors of the organisation’s policy recommendation report to the government regarding low-altitude economy. “To serve as a global role …
Brisbane’s West End celebrates Kurilpa Derby with parade and festivities
- 2025-09-17
- Society
- The Young Reporter
- By: CHAU Wing YauEdited by: CHAN Wing Yiu
- 2025-09-17
BRISBANE, Australia — The 2025 Kurilpa Derby took place on 14 September, continuing an 18-year tradition in the West End suburb in Brisbane, Australia. The word “Kurilpa” means “home of the water rat”, showing the West End suburb’s history as a natural habitat for water rats and a place where First Nations people once lived. The West End Community Association organises the parade annually in recognition of Indigenous heritage and celebrates the community’s spirit. Participants decorated their wheels in various creative styles and dressed up for the parade. A series of activities following the Kurilpa Derby parade, including a doggy fashion parade, Samba performance and live music. Follow the link below to watch the full reel: https://youtube.com/shorts/vOYWsjYb81Q?si=i10rLg1kZpImBD-d