The government has unveiled a measure to make it easier for people to buy homes, in a bid to stimulate the city's property market. Delivering his third policy blueprint in the Legislative Council on Wednesday, Chief Executive John Lee said the measures would allow prospective homebuyers to take out bigger loans. Kelly Yu has this report on one of the marquee measures from this year's Policy Address:

Hannah Jeong, head of valuation and advisory services at CBRE Hong Kong, says she thinks the relaxation will boost transaction volumes, especially in the luxury market. She says the changes will reduce the required downpayment and potentially increase market liquidity. She also told Kelly Yu that property prices would be affected by interest rates and government land supply:

But the founder and chief executive of Centaline Property Group says the measure alone will not be enough to whet developers' appetite for land because that also depends on improvements in transaction volumes and inventory levels in the primary market. Shih Wing-ching told Kelly Yu that people were still concerned about potential declines in property values:

To boost home ownership, the government will also be making it easier for younger people to buy subsidised flats. One of the ways authorities will do this is by allocating an extra ballot number to young families and single-person applicants under the age of 40, increasing their chances of getting a flat under the Home Ownership Scheme. Vanessa Cheng reports:

The authorities will also take steps to regulate the quality of subdivided flats to boost the living conditions of those who are less fortunate and to ensure their health and safety. Officials are doing this by requiring such flats to include private toilets and windows. Elvis Yu reports:

Kenny Ng from the Concerning Grassroot Housing Rights Alliance estimates 20 percent of the city's 110,000 subdivided units will be affected by the new rules. He told Elvis Yu that the government must ensure that affected tenants still have somewhere to live:

One NGO that connects tenants with their landlords says it is disappointed the government did not introduce a rent ceiling for subdivided units. Lai Kin-kwok from the ComHome Social Housing Platform says they expect rents to rise on subdivided units that are not affected by the new rules. He also told Elvis Yu that more details were needed on these minimum living standards and a clear timeline of when they will come into effect:

An analyst at a local thinktank has welcomed this year's Policy Address as one focused on improving the quality of people's lives. Jason Leung, Head of Land and Housing at the Our Hong Kong Foundation says the speech was a clear change in direction, especially over land and housing policies, and was more nuanced over meeting people's needs. He spoke to Hailey Yip:

To invigorate the food and beverage industry, officials say a duty on spirits will be reduced. The announcement comes after industry representatives called for the move, recalling how the government axed wine tariffs in 2008 which transformed the SAR into a hub for the beverage. The chief executive said reducing the liquor duty would aid the development of high value-added industries such as tourism, storage and logistics. Vanessa Cheng reports:

The Hong Kong General Chamber of Wine and Spirits welcomed the government's move but said it would not have a huge impact on the industry. Raymond Luk, who chairs the chamber's economic policy and social affairs committee, told Vanessa Cheng that the change would benefit only luxury spirits:

One of the ways to take the economy forward is to unlock the potential of the low-altitude airspace. The government is taking the first steps to kickstart this new so-called production factor by launching a new working group to see how drones and aerial tech will be able to transport goods and people and even assist in rescue work. Hailey Yip reports:

Among measures to boost tourism, Chinese culture will be showcased like never before and the SAR's pandas will play a big role in strengthening the city's attractiveness to visitors from around the world. Elvis Yu reports:

The government will re-introduce the principal moratorium scheme for small and medium-sized enterprises. These firms, which borrowed money under government-backed loan schemes, can apply for a principal moratorium for up to 12 months to ease their cash-flow pressure. Authorities will also offer partial principal repayment options. The CEO of General Chamber of Commerce, Patrick Yeung welcomed the measures outlined in the Policy Address. He said there were more measures supporting SME's this year, compared to last year's policy blueprint. He also praised the move by the government to study ways to implement a so-called low-altitude economy. He spoke to Anne Chan:

John Lee has announced plans to develop Hong Kong into an international tertiary education hub. He outlined measures, including creating the "Study in Hong Kong" brand. Raymond Yeung reports:

Beijing has further relaxed visa rules for non-Chinese Hong Kong residents, saying this is to further facilitate personnel exchanges between the SAR and the mainland. Damon Pang reports:

Premier Li Qiang has proposed closer three-way ties with Russia and Mongolia at a meeting with counterparts from the neighbouring countries on the sidelines of a summit for the Shanghai Cooperation Organisation (SCO). As Aaron Tam reports, the premier said Beijing was ready to further cooperate with the two nations:

A spokeswoman for the Russian Foreign Ministry has warned against the US deploying nuclear weapons in Japan. The comments come after the new Japanese Prime Minister recently pitched his desire to form an “Asian Nato.” Jamie Clarke reports:

President Xi Jinping says China is willing to work with the United States as partners and friends. He indicated that such an arrangement would benefit both countries and the rest of the world. Raymond Yeung reports:

Ukrainian President Volodymyr Zelenskyy has unveiled his much anticipated "Victory Plan” to Ukraine’s parliament. He told lawmakers that his plan contained five main points that rely on Kyiv's allies and aim to strengthen his country's position enough to end the war with Russia. Jamie Clarke reports:

In the 1970s, jazz was fused with rock to create an electronic sound called “fusion” - a style which changed popular music from the 1980s onwards. One of the biggest names in jazz and fusion will be making an appearance at this year’s annual jazz festival at West Kowloon. In RTHK's arts and culture-inspired podcast, Broad Strokes, Ben Tse and Jacqueline Guico also find out about a celebrated lyricist who is remembered for pushing the boundaries of pop culture here: