Greater Bay Area

When pearls shine brighter - Hong Kong takes new steps from governance to prosperity in 2025

2026-01-05   

On December 22nd, with warm sunshine, the Hetao Shenzhen Hong Kong Science and Technology Innovation Cooperation Zone reached a milestone moment - the Hong Kong Park officially opened. This will become a bridgehead and experimental field for the development of innovation and science in Hong Kong, and will also become a demonstration site for innovation in the Guangdong Hong Kong Macao Greater Bay Area and even globally. The highlights of Hong Kong in 2025 are diverse and particularly eye-catching: the world's largest initial public offering fundraising amount, continued to be rated as the world's freest economy, a financial center once again ranked among the top three in the world, and a year-on-year increase in gross domestic product for 11 quarters... In 2025, Hong Kong's "prosperity" momentum will flourish, and the "prosperity" image will become more apparent, taking new steps from governance to prosperity. Meh Taher, a 27 year old British youth, was born and raised in the UK and has studied and lived in Vancouver and Melbourne. At the end of 2024, he chose to come to Hong Kong to engage in cancer treatment research and is currently working as a senior research engineer at Lingnan University. The academic environment and openness of Hong Kong, as well as the diverse and active mechanisms for research funding and commercialization, have made me feel the overall attraction. ”He said. In 2025, Hong Kong's economic performance continues to improve: the gross domestic product has recorded year-on-year growth for 11 consecutive quarters. Among them, the growth rate in the third quarter expanded to 3.8%, becoming the best performing quarter in over a year and a half, indicating that the Hong Kong economy is steadily improving. It is expected that Hong Kong's economy will grow by 3.2% in 2025, slightly higher than the forecast at the beginning of the year, maintaining its growth momentum for the third consecutive year. ”The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, recently stated. As a financial, trade, and shipping center, Hong Kong has achieved remarkable results: as of December 19th, 106 companies have been listed on the Hong Kong Stock Exchange this year, with a total financing of HKD 274.6 billion, ranking first in the world; The overall export value of goods in the first 10 months of this year increased by 13.8% compared to the same period last year; For six consecutive years, it has consistently ranked as the fourth largest international shipping center in the world and has gained international recognition. The financial market is particularly prosperous and active: as of the end of November, the total market value of the securities market was about HKD 48 trillion, a year-on-year increase of 41%; The average daily transaction amount in the first 11 months was HKD 255.8 billion, a year-on-year increase of 95%. The number of registered companies in Hong Kong has reached a historic high: as of the end of July, there were over 1.5 million local companies registered in Hong Kong and over 15000 non Hong Kong companies, both reaching historic highs. On October 9, 2025, 18 key enterprises signed contracts to settle in Hong Kong, including 3 of the world's top 10 pharmaceutical companies, as well as leading companies in industries such as artificial intelligence, autonomous driving, and microelectronics. Ho Ai Mei, General Manager of Roche Pharmaceuticals Hong Kong Limited in Hong Kong and Macau, said that the booming development momentum in the Greater Bay Area, the bridge advantage of Hong Kong connecting the mainland and the world, as well as specific measures such as the Hong Kong Macau drug and equipment connectivity, have made the company full of expectations for its development in Hong Kong. Art festivals, exhibitions, competitions, forums and other major events have injected vitality into the Hong Kong economy one after another. In the first 11 months, the number of visitors to Hong Kong has reached about 45 million, surpassing the entire year of 2024. Among them, there are about 10 million non mainland tourists, a year-on-year increase of 16%. The highly anticipated Hong Kong retail industry began to bid farewell to its decline in May, and as of October, the total sales value has risen for six consecutive months year-on-year. International authoritative institutions have cast a "vote of confidence" for Hong Kong: it continues to be rated as the world's freest economy; Ranked third among international financial centers, narrowing the gap with the top two; The global competitiveness ranking has risen two more places to third place globally; The world talent ranking has risen significantly from ninth place last year to fourth place, ranking first in Asia; Ranking fourth in the world in terms of digital competitiveness... Looking back at 2025, Hong Kong vigorously developed its economy, improved people's livelihoods, actively aligned with national development strategies, and created a new situation of high-quality development. ”Hong Kong Chief Executive Li Jiachao said. Good governance and good governance open up a new chapter: 'Reform only lasts, not ends.'. ”In 2025, Hong Kong's reform will accelerate: the SAR government will establish a "department head responsibility system" to further strengthen governance. Chen Yong, the convener of the National People's Congress in Hong Kong and a member of the Legislative Council, said that thanks to the firm support of the central government, the SAR government team and various sectors of society have worked together to promote the steady progress of society as a whole, laying a solid foundation for the long-term prosperity of Hong Kong. In 2025, the executive and legislative branches of the Hong Kong Special Administrative Region will further interact in a positive manner, opening up new opportunities through innovative reforms, and continuously developing the economy and improving people's livelihoods. Under the new electoral system, the seventh Legislative Council passed a total of 130 bills in its four-year session, 49 more than the sixth session. This demonstrates the effectiveness of the Legislative Council in doing practical things and achieving results under the executive led system, "said Li Huiqiong, Chairperson of the House Committee of the Legislative Council of the Hong Kong Special Administrative Region. On November 26, 2025, a fire unfortunately broke out in Hung Fuk Court, Tai Po, Hong Kong. At a time when society is facing challenges together, Hong Kong successfully held the 8th Legislative Council election on December 7th, reflecting the determination of voters to support the SAR government and Legislative Council members in post disaster reconstruction and reform, as well as the spirit of unity, love and mutual assistance among citizens. On December 9th, several current and incoming members of the Legislative Council met with the public. They stated that they will do a good job in the aftermath of the fire and work together with the SAR government to promote reforms, take Hong Kong's development to the next level, and better benefit Hong Kong and contribute to the country. At the first meeting of the Legislative Council, the government will propose a motion to discuss with the Legislative Council how to support disaster victims and facilitate reconstruction and rehabilitation. ”Li Jiachao stated that the new Legislative Council members will work together with the SAR government to lead Hong Kong in deepening reforms and creating a shared future. After the restructuring of the district councils closely related to the development of grassroots society in Hong Kong, they have returned to the position of non political regional consultation and service organizations, and their role in boosting regional economy and improving grassroots livelihoods has become increasingly prominent. By October 2025, the first phase of 452 "Regional Service and Care Teams" (Care Teams) has completed their services, visiting approximately 610000 elderly households and those in need, providing nearly 100000 simple home or support services, and organizing approximately 50000 regional activities. Subsequently, the second phase of 455 caring teams have been fully deployed for service. Liu Zhaojia, consultant of the National Hong Kong and Macao Research Association, said that by 2025, the executive and legislative branches will improve their partnership and unite to govern Hong Kong. Through aligning with the national development strategy, all sectors will accelerate the construction of the northern metropolitan area based on economic development, accelerate the improvement of people's livelihoods, and work together to cope with the complex international situation. Hong Kong will step onto a new level of good governance and governance. Mr. Lao, 76 years old, lost his home in the Tai Po fire and his family was resettled by the SAR government in a transitional house in Pok Oi River Xia Wai Village, Yuen Long. There are thick quilts, simple cooking utensils, and a wide variety of fast food in the room. After moving in, I felt much more at ease, "he said. After the Tai Po fire, with the deep concern of the central government and the strong support of the motherland, the SAR government has always been at the forefront, uniting all sectors of society to rescue and deal with the aftermath, and establishing a committee to conduct in-depth investigations, hold accountable, and implement reforms to ensure that similar tragedies do not happen again. Among them, the SAR government guarantees to provide free housing for disaster victims until they rebuild their homes. In addition to emergency rescue of disaster victims, providing citizens with a place to live has always been a key policy focus of the SAR government to improve people's livelihoods. On a warm noon in winter, Ms. Du was cooking in the simple public housing on Youke Road in Yuen Long, waiting for her children who were about to finish school. It only took one month from applying to move into the minimalist public housing, "she said. Her family of five had previously rented a house in Xintian Village and suffered from mosquitoes and dampness." Now, the sunshine finally shines into our lives. To solve the housing problem as soon as possible, Hong Kong's first minimalist public housing project will be completed in 2025. Combined with the accelerated provision of traditional public housing, as of the end of September 2025, the waiting time for general applicants in Hong Kong for public housing will be as low as 5.1 years, the lowest record since the first quarter of 2018. To have a place to live and a place to enjoy. The living space of subdivided units in Hong Kong is cramped, giving rise to the concept of "community living rooms". In an old industrial building in Tuguawan, the nearly 700 square meter "community living room" is lively every day: the elderly sit and chat in the morning, the children play in the game area in the afternoon, the students do homework in the self-study room in the evening, and the neighbors chat and laugh in the shared kitchen, bathroom, and laundry room. This cannot be achieved in a home filled with smoke and difficult to turn around. ”Ms. Xia lives in a nearby subdivided unit and is currently cooking in a shared kitchen, while her child is practicing piano in the piano room. Medical services have also been a long-term focus of concern for people's livelihoods in various sectors of Hong Kong. In the 2025 Policy Address, Li Jiachao proposed to increase public healthcare services, reduce the waiting time for stable new cases in surgical specialties by about 10 weeks, and expand family medicine outpatient prevention screening and nursing services. On December 11th, Hong Kong's first traditional Chinese medicine hospital was officially put into operation, providing citizens with more diversified medical services. Two way journey towards integration and progress. In the morning, let's "sigh for tea" in Guangzhou, and in the evening, enjoy the scenery at Victoria Harbour. After the "Hong Kong cars heading north" policy, the highly anticipated policy of "Guangdong cars heading south" entering the urban area of Hong Kong was officially implemented at midnight on December 23, adding new momentum to the integrated development of the Greater Bay Area. You can drive from Zhuhai to Hong Kong with just one step on the gas pedal, the experience is so enjoyable. ”Mr. Cao, one of the first Zhuhai car owners to try it out, said that there is no need to worry about vehicle and ferry schedules, traffic restrictions, and other issues anymore. Cross border shopping, visiting relatives and friends, and self driving trips are much smoother now. By 2025, Hong Kong and mainland China will have increasingly frequent exchanges and closer integration in various aspects, from official to private, from politics, economy to sports and culture. In mid May, Li Jiachao led a business delegation to visit Qatar and Kuwait, and reached a total of 59 cooperation memorandums and agreements. This is the first time that a mainland enterprise has participated in a Hong Kong business delegation visit, which includes more than 20 mainland entrepreneurs. At the end of June, 34 members of the Chief Executive's Advisory Group announced that two new members - Han Bicheng, founder of QiangBrain Technology and Wang Xingxing, founder of Hangzhou Yushu Technology, who are known as the "Six Little Dragons of Hangzhou", have attracted attention. This means that Hong Kong will cooperate more with industry leaders in mainland China, jointly expand regional cooperation, and deepen international exchanges. On October 6th, a special overseas tour for mainland enterprises was launched in Hong Kong; On December 13th, the Hong Kong Professional Services Overseas Platform was launched... Hong Kong collaborates with mainland enterprises to enter a new stage of overseas expansion. Hong Kong teenagers enter the mainland and learn about the country in full swing: the Hong Kong Student Mainland Exchange Program continues to be popular, and the 2024/2025 academic year is even more encouraging, with over 80000 people signing up. Teachers and students generally believe that communication extends classroom learning, deepens understanding of national conditions, cultivates a sense of belonging to the country, and grasps future development opportunities. The 15th National Games is a shining moment for the Guangdong Hong Kong Macao Greater Bay Area. The joint efforts of the three regions for the first time vividly demonstrate the unique advantages of "One Country, Two Systems", the tremendous vitality of regional coordination, and the new chapter of integrated development in the Greater Bay Area. In Hong Kong, a large number of mainland tourists have boosted the city's vitality: crowds are surging in major commercial districts, and long queues are often seen in cultural and creative stores, restaurants, and other establishments. Mr. Jin, a tourist from Jilin, said that his family of three experienced an unforgettable journey by watching swimming competitions in Shenzhen during the day, beach volleyball matches in Hong Kong at night, and visiting Victoria Harbour. Thai youth Pearl came to Hong Kong for a bachelor's degree in computer science four years ago, and after graduating this summer, chose to stay in Hong Kong and join a software company. Hong Kong has a promising development prospect, which is a solid reason for me to stay in Hong Kong. "At the age of 22, he is looking forward to his future life. Hong Kong is constantly responding to the choices of young people with abundant development momentum. Among them, Hong Kong has accelerated the development and construction of the northern metropolitan area, which has attracted particular attention. The area and future population of Beidou account for about one-third of Hong Kong's total, which will become an important engine for promoting Hong Kong's development, an important platform for deep participation in Greater Bay Area cooperation, and integration into national development

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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