Chief Executive Carrie Lam Cheng Yuet-ngor delivers the swan song policy address of her current term today and it will tackle the land and housing problem which she says people are most concerned about.
Like her previous four policy addresses, the cover of Lam's fifth is sky blue in color. The theme is "New era, new opportunities."
Lam said she received around 3,800 written or e-mailed submissions during the public consultation period and the most concerning topic among people is still housing and land supply.
As land issues will be the focus, details of pandemic-related relief measures may not be mentioned this year, she added.
"The government fee and rental waivers or concessions and extension of the Special 100 percent Guarantee loan was already announced in August and September," Lam said.
"Officials will roll out measures in a timely manner depending on the development of the pandemic."
Apart from public submissions, she also garnered views from different sectors through around 40 consultation sessions at schools and through livestreams, which were participated by around 3,500 people.
The length of the new address at the Legislative Council will be similar to the one last year, Lam said, and it will take more than two hours to read.
Similar to the past two years, there will be a supplement to her address this year and the length of that will be the longest, as a summary regarding all the work done by the government this term is included.
It will have a summary of the progress of implementation of the over 900 policies proposed in the past four addresses, according to Lam.
Sources said since the New Territories North development plan is expected to be one of the main focuses, there will be a large-scale "concept of a comprehensive development plan."
It will include a new cross-border railway - from Hung Shui Kiu to the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone - to go with the New Territories North development.
Sources said the plan will also include industry development, which is expected to involve building an innovative technology development facility within the Lok Ma Chau Loop.
A source quoted Lam as saying the plan is even "bigger and more expensive" than the HK$624 billion Lantau Tomorrow mega-development plan.
The plan is related to Hong Kong's long-term development and aimed at reassuring the public amid an unstable political environment and an emigration wave in the past two years.
The plan is also in response to Beijing's demands to integrate the SAR into the country's overall development, the source said.
While the government did not give any details of the cost, the source said it is hard to estimate as it is not a single infrastructure or development project like Lantau Tomorrow or the third runway at the Hong Kong International Airport.
"This is large-scale development planning, which involves different elements," the source said. "Even if it is the Lantau Tomorrow plan, the land sale revenue on its own is already higher than the reclamation cost, therefore I believe the government can afford it."
Separately, sources close to the government said a new think tank similar to the National Development and Reform Commission in the mainland will be set up to study the city's overall development plan in a macro perspective.
The think tank will be established so Hong Kong can keep up with China's 14th five-year plan and the Greater Bay Area development plan and it will directly report to the chief executive.
The plan is expected to be rolled out alongside a new bureau in charge of cultural, sports and tourism affairs and to be implemented in the next term of the government in July.
The think tank will still collect views for major policies in Hong Kong, including land and housing policies as well as industry development, but it will mainly be tasked with keeping the SAR in line with the country's overall development.
On a separate note, the government plans to build 4,000 public housing units on Queen's Hill in Fan Ling, according to documents tabled at the North District Council.
Construction of the housing estate is expected to be completed as early as 2030, which will be able to accommodate 11,300 people with six 47-story residential blocks. It will have a kindergarten as well as retail, welfare, parking and leisure facilities.
michael.shum@singtaonewscorp.com
