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2022/23 - CE Policy Address

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  1. #1

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    2022/23 - CE Policy Address

    Following the bold measures thread, our CE has decided to address the city and outline the govt policy for the rest of the year...

    GeoExpat Proposals: https://geoexpat.com/forum/342/thread364495.html

    TL;DR - Other than some visa changes, virtual asset regulations... this seems like a kitchen sink approach with far too many things to be enhanced, considered, funded, studied... all over the place. No "hero" policy.

    Live Broadcast from 11AM onwards:

    https://webcast.info.gov.hk/revamp/eng/livecast.html

    Policy Address Website has not switched into live mode and I'm unsure if they're going to unveil the text as he speaks.

    https://www.policyaddress.gov.hk/2022/en/

    Last edited by shri; 19-10-2022 at 12:30 PM.

  2. #2

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    Highlights - none really ... but...

    • The CE has been given permission to take off his mask, since the policy address is expected to be rich.

    • CE reveals that the global situation is shit and will affect HK. But HK is an international center has its advantages - we have the hardware, software and the best talent in Asia. Under 1C2S, we have direct access to the mainland and we're the bridge to the mainland from the world. Something about BnR ...

    • Policy Initiatives:

    • Security & Stability - No reason to change our policies. Must stay alert and safeguard. Alignment of emblem ordinance with national laws.. (?), crowdfunding regulation, false information to be regulated etc. Patriots will continue to be elected in a fair manner. Govt will establish a committee to train trainers on rule of law (this is confusing .. not sure what they're doing..).

    • Governance systems to be improved. (More later on this in another section of the address).

    • New HK Investment Corp Ltd (HKIC). Will consolidate GBA investment fund and tech fund and co-investment fund (to be mentioned later). We aim to attract more enterprises to develop their business in HK.

    • CEPU - CE Policy Unit. Some more studies to be conducted and report to the CE.

    • Sec Departments / Dep Sec Departments will coordinate departments. Red team / green team gaming exercises.

    • Update Civil Service Code ... Civil servants should act like civil servants and be patriotic. Strengthen rewards (new awards to be given out and training etc) and punishment systems (substandard performing officers will be terminated after due process...). (yay!)

    • Something which hints at beating the shit out of Singapore's competitiveness... Attracting enterprises with one stop services, talent services units to recruit from mainland and overseas, setup dedicated teams - trade, etc (not sure where this leaves InvestHK). 30B HKD for co-investments. Top talent scheme, allow people to apply for refunds for stamp duty on getting PR.

    • Local workforce has shrunk by 140,000. Govt will proactively "trawl the world" for talent. 2 year top talent scheme - annual salary 2.5M in 2 years + 100 top uni with 3 years work experience - will get a pass to "explore opportunities". Grads from top 100 uni without work experience will be allowed in but limit of 10K per year.

    • Vacancies in 13 professions or salaries of 2M HKD or above - employers will not have to submit proof of local hiring efforts.

    • Suspend QMAS quota for 2 years and improve processes.

    • Relax immigration arrangements for non-local grads - from 1 year to 2 years and expand scope to grads from GBA universities (not sure how this will work).

    • Enhance tech talent schemes.

    • Expand limit of stay - may be issued 3 year visas

    • Refund extra stamp duties to eligible talents who purchase property from today can apply for BSD etc when they get their PR.

    • Talent service unit will be established as a one stop clearing house for visas.

    • All visa applications to be submitted electronically from this year.

    • Bureaux will put forward schemes to address local worker shortages.

    • Financial services is the biggest pillar... enhance HKEX mainboard listing rules (again!). Revitalise GEM (ugh!) and do more offshore RMB business. Promote mutual market access... more connects, etc. Some north and some south bound trading enhancements and expansions. And some green stuff, carbon markets, family offices (tax concessions!).

    • More fintech ... esp cross boundary projects.

    • Licensing regime for virtual asset provides, stable coins and may be ... just may be ... dance video NFTs.

    • Build a smart govt... all govt services to be online in 2 years under IAmSmart. 100 digital new govt projects to be launched.

    • We're going send one of you into space...

    • Arts: HKAPA - New campus and raise proportion of non-local students. Will subsidise students. Groom more professionals for art conservation etc. Continue to attract more talent... (There is a LOT of talent they plan to attract).

    • Increase LCSD museums and performing centers.

    • More funds to stage international events. "mega arts" committee of sorts. GBA culture and arts festival, opera etc. Watch out K-POP stars .. we are coming for you with local talent with a govt promoted POP culture center (or something like that..).

    • 200 trade exhibitions to be staged in HK with a new 1.xB$ fund. . Funding support for local companies to market overseas / develop markets etc - fair bit of cash being thrown into this.

    • SME principal repayment holiday scheme to be extended.

    • International Shipping Center - Tax concessions, maritime training etc etc ...

    • Aviation Hub - Working to fully figure out this whole Aviation City business. Airport Authority is working to enhance connectivity to GBA. Enhance aircraft leasing tax regime.

    • Patent examination something something ... @MABinPengChau

    • Govt offices to be relocated aggressively to Northern Metro... when its ready... and if they don't need to be in their current location. Watch out backoffice people!

    • Lots of cash being spent on local tours / staycations / local consumption, MICE, kitchen sinks come to mind...

    • Housing is out top priority.... 90 mins into the speech. Identified sufficient land for 360K units. Distribution of units will be uneven over 10 years... 2/3rds will be completed 5+ years later. Cap waiting times for public housing (from 6 to 4.5 years in 2026...). Minimum size from 2026 - will be no less than 26 sq mts....

    • Changing sale threshold rules for older industrial and residential buildings to speed up forced sales - will have to look at this

    • Expiring land leases will be dealt with next year by legislation - aim is to simplify, speed up, standardise and reduce land lease renewal costs.

    • New artificial island (Lantau tomorrow) - lots of plans to develop 3rd CBD. 2025 target to start reclamation works...

    • Public Health: We need to change the system. Revamp the system to shift the emphasis from incident treatment to prevention. Private health partnerships, people centric primary health care services. Yes... a new authority will be setup to plan and implement this.

    • High risk hypertension, diabetes etc will be referred to private sector from next year. Govt will subsidise 50% of the fees. A new strategic office will be setup.

    • Allow for shared use of vouchers between spouses. And expand its use and increase the amount from 2000 to 2500 on use of first 1000.

    • HA will provide more tele health and drug collection / delivery systems.

    • What is this weemen development thing?!?

    • EV Owners: - The Government will cease new registration of fuel-propelled and hybrid private cars in 2035 or earlier. In the coming three years, an additional 7 000 parking spaces with electric vehicle chargers will be provided in government premises.

    • Mainland holidays for teachers: Newly-joined teachers in publicly-funded schools and teachers aspiring for promotion in public sector schools will be required to participate in the Mainland study tours. Moreover, serving teachers will be offered more Mainland study opportunities to understand the development of our country.

    • Covid Stuff: "Provided that the epidemic is under control" - things will progress and measures will be relaxed. Economic and large scale activities will continue. Making best efforts to resume cross boundary travel. Will monitor risks arising from winter, flu and everything else in life. @jaswells - there you go! Decisive stuff... ( https://www.policyaddress.gov.hk/202...0.html?noembed )
    Last edited by shri; 19-10-2022 at 01:41 PM.
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  3. #3

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    I am now of the opinion that they have forgotten that they have a policy address website exists.

    The video is live now ...

    Website is live too ..

    https://www.policyaddress.gov.hk/2022/en/

    Last edited by shri; 19-10-2022 at 11:05 AM.
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  4. #4

    There is an english feed on youtube...

    https://youtu.be/UtvtwIpcZ8w


  5. #5

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    30 mins into the speech .. seems to be all about organisational and manpower schemes. Lots of task forces, steering groups and other wordy strategic stuff.


  6. #6

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    any news on when we can spread covid in a barbeque pit instead of a KMB bus?

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  7. #7

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    Far too much wordy stuff right now ... too many new committees, funds and acronyms being introduced.

    I keep wondering .... if this was the UK, the markets would have imploded / exploded and gone away half way through this speech.


  8. #8

  9. #9

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    Quote Originally Posted by shri:
    • We're going send one of you into space...
    Do we have to wear a mask?
    GentleGeorge likes this.

  10. #10

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    Quote Originally Posted by Trance Omega:
    Do we have to wear a mask?
    No... we will not be able to see your emotions if you do.
    Trance Omega likes this.

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