Core Viewpoint - The new policy address by Hong Kong Chief Executive John Lee reflects a comprehensive approach to "reform and deployment" aimed at improving the livelihood of citizens and addressing various social issues [1][3]. Group 1: Policy Focus - The policy address emphasizes the importance of improving people's livelihoods as the primary goal, with a dedicated chapter covering nine areas closely related to citizens' daily lives, including housing, transportation, healthcare, social welfare, labor protection, and community care [3][5]. - The current government faces multiple financial pressures, necessitating the establishment of priorities in advancing social welfare, healthcare, and education, which together account for approximately 60% of the government's recurrent expenditure [3][5]. Group 2: Housing and Land Policy - A significant focus is placed on housing, with a commitment to increase the total public housing supply (including simplified public housing) to 189,000 units over the next five years starting from the 2026/2027 fiscal year, representing an approximate 80% increase compared to the beginning of Lee's term [3][5]. Group 3: Economic Development and Innovation - The policy address also highlights the importance of "industrial development and innovation," with plans to accelerate the cultivation of local and emerging industries to promote economic diversification [5]. - Key sectors identified for future growth include innovative drug research, sustainable aviation fuel (SAF) supply chains, and artificial intelligence, leveraging Hong Kong's unique position under the "One Country, Two Systems" framework to create value [5].