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INTRO
The new Chief Executive of Hong Kong, CY Leung delivered his first policy address on Wednesday morning...
Outlining his plans for the Special Administrative Region in 2013, including boosting ties with the Chinese Mainland...
CY Leung's first policy address to the Hong Kong people, was coloured by a distinctive theme: the SAR's ties to the Mainland.
Despite recent protests over some aspects of the SAR's relationship with the Chinese Mainland - namely hospitals and roads being over-crowded...
The newly-elected Chief Executive said that relationship, will get closer.
And that Hong Kong will rely on the mainland, to maintain its own growth.
SOUNDBITE(CANTONESE)CY Leung, Chief Executive of HKSAR:
"In the past 30 years, Hong Kong has played a significant role in the Chinese mainland's opening-up and reform. Hong Kong has many advantages in tourism, transportation, and investment. And will develop multiple industries on a large and expansive scale."
Leung said Hong Kong will cooperate with multiple provinces to promote more economic interation with the Chinese mainland, following the twelfth five-year plan.
A big part of what Hong Kong can bring to China, is it's competitiveness as an established international financial center and trade hub.
To maintain that edge, Leung said Hong Kong will also strengthen trade ties with other emerging markets, participate in WTO negotiations, and do more create a favorable trade environment.
But while talking of free trade, Leung also stressed that Hong Kong's government, must be more proactive...
And take action to address market failures - like the city's rising pollution and property prices - to strike a better balance between growth, and quality of life.
On this, the new Chief Executive said boosting the affordable housing supply will be the government's top priority...
And that it will will assess the future housing needs of different social groups and make long-term plans, to meet them.
Leung was elected as the third Chief Executive of Hong Kong in March last year and came into office in July the same year.
His full term will be five years.
