NEW BUILDING AUTOMATION ENCOURAGED

Indeed, infrastructure and construction have long been indispensable to the sustainable economic development of Hong Kong.

Last year, counting both public and private sectors, our construction output totalled some HK$240 billion – that is nearly US$31 billion. That, ladies and gentlemen, accounted for close to 9% of Hong Kong's gross domestic product (GDP) in 2021. And it's just the beginning. In the coming decade or so, we will embark on a few far-reaching landmark developments, including the Northern Metropolis, which will be a world-class innovation and technology hub built from the ground up; and the Central Waters artificial islands, which are destined to become Hong Kong's third core business district. In the medium to long term, our construction volume is primed to soar to about HK$300 billion a year.

Together with our proximity and access to the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong will be, in the years ahead, an abundant source of visionary opportunities and an irresistible world-class arena for all construction leaders and talent to shine and contribute your expertise.

But let us bear in mind that construction is not just simply about numbers and figures, its contribution to the GDP, or business opportunities. Construction is about building for the people, consistently meeting their needs and aspirations for better quality of life, and generating the capacity for a more inclusive and balanced city or regional development.

The 20th National Congress of the Communist Party of China has highlighted the pursuit of high-quality development as a top priority of the country. In this connection, clear goals have been drawn up to enhance urban planning and construction so as to make cities more liveable, resilient and smart. Green transition will be a pivotal part of this process, as emphasis has been put on clean, low-carbon and high-efficiency energy use for the construction and transportation sectors.

High-quality development is what we will fully embrace in building for the future of Hong Kong. As Hong Kong will take forward key development projects, like the Northern Metropolis and the Central Waters artificial islands which I just mentioned, we will leverage on them to power our economic growth, improve people's quality of life, and facilitate transition to carbon neutrality. These projects will also allow Hong Kong to strategically rationalise our overall planning, enhance our economic integration with the Greater Bay Area, and strengthen our connectivity with the Mainland and the world.

And we are working in full swing for our vision to materialise. As set out in the Chief Executive's Policy Address, we are actively enhancing the quantity, speed, efficiency and quality of building and construction for our city.

At the planning level, we are working hard to streamline procedures of town planning, land resumption, reclamation, roads and railway works, etc, so as to compress development timetables and speed up land production. As you may know, a bill for this purpose will be introduced into the Legislative Council this week. For new development areas, we have also adopted an "infrastructure-led", "capacity creating" approach for infrastructure - so that infrastructure may precede land development and help unlock land potential as much as possible.

At the construction level, innovation and technology will be the name of the game - whether it comes to Modular Integrated Construction, Building Information Modelling, construction digitalisation, robotics and automation, or new construction materials or methods that will help enhance productivity, safety and sustainability. To this end, the Hong Kong Special Administrative Region Government has been playing a proactive role. We take lead in applying new technologies in public works projects. We also provide funding to the construction sector to adopt new technologies.

The case and need for innovation in construction have made today's summit and the Construction Innovation Expo this week all the more timely and important. With esteemed speakers speaking at the conferences covering the latest construction trends, and more than 120 exhibitors from Hong Kong, the Mainland and around the world showcasing their latest products and solutions, the events will provide us with a valuable opportunity to take a global look at inspiring concepts and ideas, and to learn and improve our construction practices. I trust that participants will truly benefit from these meaningful events and be able to find business opportunities here.

Financial Secretary Paul Chan gave these remarks at the Global Construction Summit and CIC Construction Innovation Award 2022 Presentation Ceremony on December 13.

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