It is the "ultimate aim" of Hong Kong's mini-constitution, Basic Law, that the city's leader and the entirety of the legislature be elected "by universal suffrage."

As deputy leader, Lam led the government's political reform efforts. "Like many people in Hong Kong, I of course want to see one person, one vote," she told CNN. "I tried very hard to deliver this ... but unfortunately it was not supported by some of the politicians."

Mathew Wong, an expert on Hong Kong politics at HKU, said the real decision lies with the central government and "Beijing has strong reservations about restarting reform."

"The last (effort) triggered the Umbrella Movement," Wong said. "In addition, Beijing has been insisting that the last reform proposal was a universal suffrage proposal, but the democrats turned it down."

Article 23

Some warn the law could be used as an excuse to crack down on criticism of the government or discussing controversial topics like Hong Kong independence.

A previous attempt to implement Article 23 drew more than 500,000 people into the streets in 2003 and resulted in the proposed legislation being shelved and the minister responsible forced to resign.

Lam said critics were misguided, as all governments "need to protect their country and protect their countrymen" and in any case "freedom and human rights ... are also enshrined in Basic Law" and would therefore be protected.

She added that while this was a "constitutional responsibility," previous attempts showed her administration would first need to "create a condition" where passage of Article 23 could be supported, before introducing any bill.

Grenville Cross, a former Hong Kong director of public prosecutions, said that critics of Article 23 may be undermining themselves by forever blocking its passage.

"If Hong Kong doesn't enact these laws on its own then hardliners in the (Beijing government) might gain the upper hand and say ... we must take matters into our own hands," he said.

Housing and inequality

Lam said she will work to "diversify Hong Kong's economy" in order to provide more opportunities for young people and "inject as much innovative thinking as possible" into the housing market.

She said she would introduce home ownership as a key policy objective of her government, "to try to let people to get a chance to own."

Hong Kong's relationship with China

While her predecessor was criticized for not standing up to Beijing, Lam said her role was to act as a bridge between the city and the central government.

"I have to be honest, I have to tell the central authorities the feelings and sentiments of Hong Kong people, and if there are things I feel that we can handle, and they are totally in line with the provisions of the Basic Law, then Hong Kong should be given a free hand," she said.

"The important thing is ... under 'one country, two systems,' we have full pride in being Chinese, and feeling proud of the progress made by the country," she said. "But at the same time, retaining as much as possible of Hong Kong's uniqueness and characteristics."