CE says Five-Year Plan aims to benefit all

Chief Executive John Lee unveiled Hong Kong's First Five-Year Plan, emphasizing that the initiative aims to improve the well-being of the entire population, not just select individuals. During a radio phone-in, Lee addressed concerns like the city's declining birth rate, housing, youth opportunities, and employment. To combat the low birth rate, the government pledges to extend the HK$20,000 cash incentive for newborns for an additional three years.

Recognizing the difficulty in predicting the impact of financial incentives, Lee stresses the need to create a comprehensive environment that encourages childbirth. He hopes citizens will understand that the government's policies support childbirth and foster a social atmosphere that similarly values the decision to have children.

Lee highlights that while the economy appears promising, individual circumstances and industry conditions vary, and the government will do its utmost to provide assistance where needed. For youth unemployment, the government, in collaboration with businesses, will launch a 30,000 Youth Employment and Internship Programme to bolster employment prospects for young people, particularly those with limited work experience.

Lee explains that simply providing cash is not the solution, as it would create financial obligations for the government. The plan also prioritizes advancing artificial intelligence across industries while addressing risk management concerns. Authorities are particularly wary of fraudulent activities, bullying, and other violations, especially those involving deepfake technology.

The Law Reform Commission will examine legislation surrounding AI, and the government is focusing on educating students through curricula and guidelines to ensure responsible AI usage. Additionally, a task force will assess the risks associated with minors' use of social media, including AI interactions, to determine the need for targeted solutions, including legislation and administrative measures.