Related: HK set to grasp new opportunities

Hong Kong will develop a new metropolis in its northern part to accommodate 2.5 million people and better integrate itself into the overall development of the country, according to the annual policy address delivered Wednesday by Chief Executive of China's Hong Kong Special Administrative Region Carrie Lam.

The northern part of Hong Kong is expected to be developed into a metropolitan area ideal for people to live, work and travel, Lam said at a Legislative Council meeting, noting that more land resources should be created for residential use and the development of industries.

With an area of 300 square kilometres, the proposed metropolis covers from the west to the east the Shenzhen-Hong Kong Boundary Control Points Economic Belt, as well as the deeper hinterlands.

At present, a number of development projects planned or under planning in the northern metropolis are estimated to provide about 350,000 residential units. An additional 600 hectares of land or so could be developed within the area for residential and industry purposes, with an estimated provision of about 165,000 to 186,000 residential units, according to the policy address.

Upon the full development of the entire northern metropolis, a total of 905,000 to 926,000 residential units, including the existing 390,000 residential units in Yuen Long district and North district, will be available to accommodate a population of about 2.5 million.

The total number of jobs in the metropolis will increase substantially from 116,000 at present to about 650,000, including 150,000 innovation and technology industry-related jobs, Lam said.

The proposed individual development projects together with the surrounding rural and conservation areas will be integrated in an innovative and organic manner conducive to upgrading the entire region to a metropolitan area, she said.

Such an integration can create the development capacity to meet the needs of Hong Kong's economy and people's livelihood, and a quality environment for sustainable development.

"All these will help us better respond to the new opportunities brought about by deepened co-operation between Hong Kong and Shenzhen," said Lam.

The 2021 policy address, the fifth of its kind since Lam took office in 2017, focuses on bolstering Hong Kong's economy, tackling an entrenched housing shortage and prompting Hong Kong to better integrate into the national development.