Hong Kong leader says firms must strive to survive despite government support

Hong Kong’s leader defended measures in his policy address to boost the economy and improve livelihoods, stressing that businesses must also do their part to remain competitive and survive, even with government aid.Chief Executive John Lee Ka-chiu said on Saturday that the livelihood section was the longest and broadest in scope in his policy address when asked about residents who had yet to benefit from the government’s economic policies.“You need to develop the economy first to have the resources to improve people’s livelihoods,” Lee said on a radio programme discussing his policy address and Hong Kong’s inaugural five-year plan, which he announced on Wednesday.“First, we must grow the overall economy so that everyone benefits, but as the pie grows bigger, there are indeed certain groups that may need extra help.”He pointed to funding for small and medium-sized enterprises to help them expand into more markets, develop e-commerce and enhance their capabilities through technologies such as Artificial Intelligence (AI).But Lee said that, in a survival-of-the-fittest society, effort was needed from “both sides”.“While the government works hard, business operators might also need to think of ways themselves because, after all, this is a highly competitive society,” he said.