New Delhi, Sept. 18 -- Hong Kong's leader announced plans Wednesday to speed up development of an economic powerhouse near its border with mainland China and nurture industries ranging from artificial intelligence to higher education as the city seeks new economic growth engines to maintain its international competitiveness.

Chief Executive John Lee is under pressure to distinguish Hong Kong from regional rivals and mainland Chinese metropolises after a yearslong crackdown on democracy activism and Beijing's tightening grip tainted the city's image as a free-wheeling financial center.

"We are now undergoing an economic transition. It is irreversible progress. Transformation is an inevitable process for a stronger economy," he said.

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