Blog
The 77th Anniversary of the Founding of the People’s Republic of China
During the recent Mid-Autumn Festival, many members of the public enjoyed gatherings with family and friends amid a strong festive atmosphere under the bright full moon. Activities featuring unique district characteristics were also held throughout the city. For example, the “World Lantern Boulevard” at Victoria Park was well received, bringing together more than 3,000 distinctive lanterns from 20 countries and regions, each showcasing its own charm. In response to the overwhelming public reaction, the Lantern Boulevard will remain on display until October 4.
While the Mid-Autumn Festival embodies the Chinese people’s cherished tradition of family reunion, the National Day on October 1, which falls in this week, carries profound national sentiments and bears witness to the extraordinary journey of New China — transforming from standing up and growing prosperous to becoming strong. Over the past 77 years, through perseverance and unremitting efforts, the country has steadfastly advanced its reform and opening-up, continuously steering Chinese-style modernisation towards new stages through high-quality development.
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| Last week, I visited Beijing and called on the Governor of the People’s Bank of China, Mr Pan Gongsheng (right). |
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| Calling on the Minister of Finance, Mr Lan Fo’an (right), in Beijing. |
This process is most clearly seen at the industrial level: the manufacturing sector is accelerating its transformation towards high-end, smart and green development; emerging industries such as new energy vehicles, photovoltaics, commercial space and quantum technology are growing rapidly; and last year, the Chinese Mainland’s research and development (R&D) expenditure exceeded RMB3.9 trillion, ranking second globally in scale.
With a comprehensive and well-structured industrial system and a vast consumer market, the country provides Hong Kong with a broader platform to leverage its own strengths, integrate into and serve the overall development of the country, while achieving long-term development of its own. The country has always remained committed to advancing high-level opening-up, adhering to the development philosophy of mutual benefit and win-win co-operation, and continuously creating a more favourable environment for Hong Kong to open up new development space. During his state visit to the United States, President Xi Jinping made it clear that “China-US co-operation may not solve all the global problems, but without co-operation between the two countries, many problems in the world would be difficult to resolve”. Maintaining communication and co-operation between the two countries will add certainty to the international market, providing stability and predictability for global economic development. During the meeting, China and the US have reached consensus on eight outcomes, agreeing to jointly forge a constructive, strategically stable relationship guided by respect, fairness and reciprocity, and to establish a bilateral dialogue channel on artificial intelligence. It is reasonable to believe that, when competition is “a race of catching up with one another, rather than a wrestle in which one either wins or loses”, global development will compete on a track of positive progress and continuous innovation.
Technological innovation, in particular the development of artificial intelligence, is generating momentum for the economy. Driven by demand for artificial intelligence and related electronic products, the value of Hong Kong’s total merchandise exports reached $667.9 billion in August, up 53% year-on-year; for the first eight months as a whole, it rose by 42.5% year-on-year. According to the latest assessment by the Government Economist, we are confident of achieving the revised real GDP growth forecast target of 3.5% to 4.5% for 2026 as a whole.
However, AI also presents governance challenges. As major economies begin discussions on AI governance, data, compliance and risk management, Hong Kong can leverage its unique strengths in providing “rules” and “trust”. With its common law system, biliterate and trilingual common law professionals, internationally aligned standards and professional services, as well as financial support, Hong Kong is well placed to provide trusted solutions in areas spanning model training, cross-boundary data flows, privacy protection and dispute resolution.
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| Meeting with the Chairman of China International Capital Corporation Limited, Mr Chen Liang (fourth left), during the stay in Beijing. |
Artificial intelligence will bring Hong Kong new types of jobs and new arenas. We need talent who understand the AI industry; talent who have the courage to explore applications through AI; and talent in areas that even the strongest AI cannot replace. The AI literacy of the workforce and broader skills enhancement are not only related to our future competitive edge in the market, but also to Hong Kong’s need to adapt to AI development, as well as the work and daily lives of the public. According to the Government’s latest manpower projection, among the overall manpower shortage of 130,000 in Hong Kong by 2028, the shortfall will be concentrated in occupations most reliant on interpersonal interaction, on-site judgement and complex craftsmanship.
We are making every effort to support members of the public in learning more about and using AI. The “AI for All” Inclusive Programme will roll out more than 200 training courses and activities by the first quarter of 2028; the AI skills enhancement programme is expected to benefit at least 40,000 employees; and the new Policy Address has proposed the “30,000 Youth Employment and Internship Programme”. Together with the industrial and business sector as well as major employer associations, these initiatives — covering entry-level positions in the industrial and business sectors, internships in innovation and technology and start-ups, as well as internships in the financial services industry and on-the-job training in the construction industry — will provide young people with preparation and assistance as they enter the workplace and new arenas.
This morning, I arrived in Doha, Qatar, where I will attend the Annual Meeting of the Asian Infrastructure Investment Bank (AIIB). I will share with various AIIB Governors Hong Kong’s experience in promoting infrastructure development, fostering regional connectivity, advancing sustainable development, etc. I will also introduce the new opportunities and new advantages that Hong Kong enjoys through alignment with national development strategies. With the National Day approaching, I look forward to celebrating with everyone in Hong Kong this important occasion marking the 77th Anniversary of the Founding of the People’s Republic of China.
September 27, 2026
