CRI听力:CY Leung Highlights Constitutional Development in 2015 Policy Address

Delivering his annual policy address to lawmakers, Hong Kong Chief Executive CY Leung says this year is crucial for Hong Kong's constitutional development.

He's calling for both lawmakers and people across the city to support universal suffrage, rather than being at, what he calls, a "standstill".

"We have to lobby members of the Legislative Council and obtain two-thirds majority support from them for the passage of the proposal made in accordance with the Basic Law and the relevant stipulations. To secure the implementation of democratic universal suffrage, we must respect one another and seek common ground while accommodating differences. Neither the community nor the Government will accept or tolerate any unlawful acts."

CY Leung also says people's livelihood in Hong Kong remains another priority for the government in 2015.

"Building on the groundwork we have laid to provide adequate housing, alleviate poverty, care for the elderly and support the disadvantaged, we will stay committed to improving the livelihood of the general public, particularly the underprivileged, by changing mindset, implementing appropriate policies and making effective use of financial resources."

CY Leung is also promising to set-aside a reserve of 50-billion Hong Kong dollars for the needs of retirees. What exactly that money is going to be used for hasn't been made clear. Hong Kong Financial Secretary John Tsang.

"For the money that we have reserved, we still have to await the study by the respective bureaux. And when they have come up with some concrete proposals, then we will examine the feasibility."

Meanwhile, CY Leung's speech has also revealed the Capital Investment Entrant Scheme is being eliminated immediately. The program, which has been in-place since 2003, allowed people to gain residence in the city by investing at least 10-million Hong Kong dollars in the local markets.

The scheme has created nearly 40-thousand permanent residents in Hong Kong. 90-percent of them are from the mainland.

At the same time, with this year being the 25th anniversary of the implementation of Hong Kong's Basic Law, the Hong Kong government is planning to organize a number of activities to promote more understanding of the Basic Law, as well as the "One Country, Two Systems" policy it's based on.

For CRI, this is Li Jing in Hong Kong.