Chief Executive John Lee on Wednesday announced that a new cross-boundary banking arrangement would start next month, saying it would make retirement on the mainland more convenient for elderly Hongkongers.

Under the new arrangement, Hong Kong retirees living in Fujian and Guangdong provinces will be allowed to claim their social welfare payments directly through their mainland bank accounts, removing the need to transfer funds from Hong Kong accounts.

The initiative was unveiled in last year's Policy Address.

Concluding his three-day trip to Fujian, Lee joined a group of Hongkongers who reside in the province for a yum cha gathering on Wednesday morning.

In a social media post, Lee also said he was glad to be told that the Fujian Scheme — the government’s monthly cash allowance for elderly residents living there — had helped improve their quality of life.

The chief executive also visited an exhibition commemorating the “3820” Strategic Project.

Formulated in 1992 under the leadership of President Xi Jinping, who was then serving as Secretary of the Communist Party of China Fuzhou Municipal Committee, the “3820” framework established phased goals for the city’s economic and social development over a three, eight and 20 year period.

Lee said this framework showed the importance of medium- and long-term planning and guided the direction of the nation in resource allocation, building social consensus, and aligning with national strategies.

The project also served as a valuable source of inspiration for Hong Kong to formulate its first five-year plan, he added.
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Last updated: 2026-06-24 HKT 16:13



Edited by Tony Sabine