Chief Executive John Lee on Wednesday said Hong Kong must remain vigilant against threats to national security as he started delivering his maiden Policy Address at the Legislative Council.

Lee told the city his first policy blueprint is one tailored for ‘Hong Kong citizens’ – and based on President Xi Jinping’s directives for the territory as outlined in his speech here during the SAR’s 25th anniversary celebrations in July.

He acknowledged that the pandemic, trade disputes and rising geopolitical tensions have weakened the global economy, which in turn will slow the pace of Hong Kong’s economic recovery, but stressed that the city’s advantages under the One Country, Two Systems principle along with its status as a bridge linking the mainland with the rest of the world will “provide Hong Kong with unlimited opportunities.”

Lee also stressed the need to maintain One Country, Two Systems while bolstering the territory’s defences against national security threats.

“Having restored order from chaos, we must stay alert to threats and dangers, adopt bottom-line thinking, and sustain our efforts in safeguarding national sovereignty, security and development interests in order to guard vigilantly against the recurrence of threats,” Lee said.

He said his administration would proceed with preparatory work to enact national security legislation under Article 23 of the Basic Law, as well as enacting laws to regulate crowdfunding activities, enhance cybersecurity legislation, and complete a study on how to tackle the issue of "false information".

Meanwhile, training for civil servants would be stepped up, and the Civil Service Code would be updated to clearly spell out the core values and standards of conduct that civil servants should uphold.

"They should have strong awareness of safeguarding national sovereignty, security and development interests and put the principle of 'patriots administering Hong Kong' into practice," Lee said.

The Chief Executive also vowed to take steps to unite society.

“In the next five years, I will lead the government team to unite and motivate all sectors of the community, and give full play to our fine traditions of inclusiveness, unity and respect for different viewpoints,” he said.

“We will make our best endeavour, all for better serving our people and better developing Hong Kong, so that the Pearl of the Orient will shine brighter than ever.”

Lee also said he would continue efforts to enhance local governance, including by setting up a new Chief Executive's Policy Unit (CEPU) by the end of the year to improve policy formation.

“The CEPU should possess strategic and global perspectives and stay in tune with the local and public pulse, while conducting in-depth studies and analyses on Mainland policies and developments as well as international trends and reporting the outcomes to me,” Lee said.

A new Hong Kong Investment Corporation Limited (HKIC) will also be set up to consolidate various existing funds to pool together Hong Kong’s fiscal reserves to better promote economic development, with the aim of attracting more businesses to set up shop in the city.