John Lee Ka-chiu Advocates for Technology Embrace in Policy Address to Boost Economy

John Lee Ka-chiu's Vision for Economic Recovery

In a pivotal town hall meeting this Sunday, Hong Kong's Chief Executive John Lee Ka-chiu called on local businesses to proactively adopt new technologies, emphasizing that such actions are crucial for a successful transition to full economic recovery amidst evolving conditions.

Importance of Technology Adoption

During his remarks, Lee addressed concerns from various sectors, acknowledging their challenges while reinforcing the government’s role in fostering a supportive environment for innovation. He noted, “An all-rounded participation is needed,” underlining the necessity of collaboration between the government and private sectors.

Artificial Intelligence and Economic Growth

Responding to feedback regarding the adoption of artificial intelligence (AI) in several industries, Lee stated that procurement should be handled by the market, stressing that the government could lead but industry players must engage for true technological integration.

Optimism Surrounding Interest Rates

With discussions hinting at a potential interest rate cut by the United States, Lee expressed optimism for Hong Kong’s economy, expecting it to sustain growth. He mentioned that despite recent challenges, the economy grew over 3% in the last quarter.

Sectoral Support and Community Participation

Lee reaffirmed that business closures may occur during this transitional phase, but new opportunities would emerge as the market renews itself. He promised government support for the most affected industries and highlighted community involvement as essential for economic initiatives.