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This week, the Office for Attracting Strategic Enterprises welcomed its seventh batch of 18 strategic enterprises, half of them come from outside the Chinese Mainland. Several have a market capitalisation or valuation exceeding HK$100 billion. Together with the previous six batches, a total of 142 strategic enterprises have now established or expanded their operations in Hong Kong. They are expected to bring in around HK$84 billion in investment and create some 27,000 jobs over the next few years. More importantly, these corporate investments are steadily materialising. As at the end of September this year, enterprises from the first six batches had invested HK$28.3 billion and employed more than 10,300 people—exceeding their original interim targets by 30% and 34% respectively. Their confidence in Hong Kong is translating into tangible economic benefits.

Last week, I attended the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok. Discussions on the global economic outlook, both at the meetings and on the sidelines, centred on two powerful forces: the shock of persistently high energy prices driven by war, and the AI wave sweeping the globe. Together, they are reshaping the global economic landscape.

Having served for more than three decades, the Lok Ma Chau Control Point completes its historic mission today. Tomorrow, the new Huanggang Port will continue to serve this Hong Kong–Shenzhen corridor with upgraded facilities. With a total gross floor area of approximately 690,000 square metres, the new port's joint inspection building is the world's largest single-building land boundary control facility. It is designed to handle 200,000 passenger trips daily—five times the design capacity of the old port. Under the "collaborative inspection and joint clearance" arrangement, travellers will be able to complete immigration procedures for both sides in approximately five minutes, down significantly from around 30 minutes at the old port. Round-the-clock clearance will be maintained. For residents, business travellers and visitors who regularly travel between Hong Kong and Shenzhen, this will make their journeys much more convenient.