HONG KONG -- John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), delivered his fourth policy address on Wednesday, which he said is anchored in two pillars: the economy and people's livelihood.

Noting that this year marks the conclusion of China's 14th Five-Year Plan period and the preparatory year for the 15th Five-Year Plan, Lee said, "this policy address serves as a roadmap for Hong Kong to strive for a vibrant economy, pursue development, and improve people's livelihood -- accelerating our advancement from stability to prosperity. It also outlines a strategic plan for Hong Kong to proactively align with national development strategies and achieve breakthroughs in forging a new landscape."

Lee stressed that his ultimate objective in governance is to improve people's livelihood. Lee announced plans to accelerate the development of the Northern Metropolis, establishing a "Committee on Development of the Northern Metropolis" under his leadership.

Furthermore, under "one country, two systems," Hong Kong enjoys the unique advantages of attracting overseas enterprises and assisting Chinese mainland enterprises to go global, Lee noted. "In the past, we focused primarily on bringing in enterprises, achieving remarkable growth and success. The new opportunities ahead for Hong Kong, however, will come from helping Chinese mainland enterprises expand abroad," he said.

To strengthen governance, Lee said he will establish an accountability system for Heads of Department (HoDs) as well as an AI Efficacy Enhancement Team.

Lee indicated that the policy address will elaborate on the policy objectives, key measures and key performance indicators, and a supplement offering more details on the policy measures and related matters has also been compiled.