Lam Cheng Yuet-ngor (C) waves to people after winning the election at the Hong Kong Convention and Exhibition Center in Hong Kong, south China, March 26, 2017. (Xinhua/Wang Shen)

HONG KONG, March 26 (Xinhua) -- Lam Cheng Yuet-ngor, winner of China's Hong Kong Special Administrative Region (SAR)'s fifth-term chief executive election, on Sunday vowed that she will lead Hong Kong forward in solidarity.

Lam made the pledge in her speech to the press after winning the election. She said she is ready to begin a new chapter in the journey together with the Hong Kong people.

"The work of uniting our society to move forward begins now," she said, adding that during the election process, she heard a lot from people's hearts and learnt and experienced many new things.

Lam said she will discuss with people from various sectors on the development of Hong Kong, such as applying new resources in education, tackling housing problem and introducing new financial and tax measures.

She also stressed that she will do her utmost to uphold "one country, two systems" and to guard Hong Kong's core values.

In her manifesto, Lam proposed to increase the recurrent expenditure for education by 5 billion HK dollars (about 644 million U.S. dollars). She said she would reach out to various stakeholders and legislators to discuss and decide how to apply these new resources.

"I am confident that we can put aside any differences and achieve a win-win situation," she said.

Lam Cheng Yuet-ngor meets the press after winning the election in Hong Kong, south China, March 26, 2017. (Xinhua/Qin Qing)

As for economic development, Lam proposed to apply financial and tax measures in a strategic way, by introducing a two-tier profits tax system and tax deductions to incentivize research and development.

She said she would invite employers and employees in all sectors as well as experts and academics to come up with ideas to help devise new plans.

On the housing issue, she said "I have pledged to help Hong Kong people attain home ownership and to improve living conditions. To do this, we need more usable land."

The key is to reach a consensus on how to increase land supply, she added.

In her speech, Lam also put emphasis on young people, saying large parts of her manifesto were inspired by them.

"In this campaign, I have felt deeply our younger people's strong desires and their passion for Hong Kong," she said.

Lam said there would be plenty of work to do in the next five years and the problems will not be easy to overcome. She believed that through caring, listening and taking action, an even better Hong Kong can be built.