hong kong follow highlight maiden policy address hong kong leader carrie lam wednesday lay blueprint government priorities come five years national security say attempt threaten country china sovereignty security development interest infrastructure belt road initiative guangdong-hong kong-macao bay area development bring enormous opportunities hong kong economy economy government last go deficit 2003-04 fiscal reserve excess hk 1,000 billion hong kong grow 4.0 percent real term year-on-year first two quarter unemployment drop 3.1 percent recent months low level two decades overall economic growth 2017 expect high 3.5 percent innovation technology government step efforts research development expand talent pool venture capital legislation review development government set goal double gross domestic expenditure percentage gross domestic product current 0.73 percent 1.5 percent within current-term government five-year tenure taxation two-tier profit tax system profit tax rate first hk million profit enterprises low 8.25 percent half standard profit tax rate profit amount continue subject standard tax rate 16.5 percent house step efforts increase supply house units seek shorten wait time public rental house increase supply flats home ownership scheme propose introduce affordable starter home middle-class families hong kong land starter home come sit already own private developers buy government provision land lease require developers pursue mix developments build offer sale specify number starter home units addition private house units target buyers meet eligibility criteria education talents increase education expenditure hk billion year appoint young people government committees aim increase overall ratio youth members 15 percent within current-term government recruit young people policy research units voice young people hear senior level government highlight hong kong leader carrie lam deliver maiden policy address