Hong Kong chief executive outlines city's first five-year plan at Shanghai forum
Hong Kong Chief Executive outlines the city's first five-year plan at the Hongqiao International Economic Forum in Shanghai, aligning with the national 15th Five-Year Plan. The plan focuses on finance, innovation, talent, and transport to serve national development goals.
Hong Kong Chief Executive John Lee said on Thursday the city had published its first five-year plan, aligning with China's 15th Five-Year Plan, and outlined priorities at the Hongqiao International Economic Forum in Shanghai. Speaking at a Hong Kong sub-forum, he said the plan marked a key milestone for the city, which faced a changing geopolitical landscape, global industrial restructuring and rapid technological and artificial-intelligence development.
The national 15th Five-Year Plan supports Hong Kong in strengthening its role as an international financial, shipping and trade centre, and in building an international innovation and technology hub and a high-end talent hub, Lee said. Hong Kong would leverage its advantages under 'one country, two systems' to serve national development and high-standard opening-up, he added.
The chief executive said Hong Kong would reinforce its position as the world's largest offshore renminbi hub, enhancing support for trade, investment and cross-border operations. The city would also deepen its stock and bond markets to help mainland companies go global and attract international capital, and adopt a 'finance plus' strategy to empower the real economy, including commodity and gold trading, tech innovation and green development, he said.
On shipping and aviation, Lee said Hong Kong would shift from a 'tonnage port' to a 'value port' by developing modern maritime services, building a resilient international transport network, and promoting sea-air intermodal links. The city ranks first globally in economic freedom and second in competitiveness, and had become the world's largest cross-border wealth management centre, he noted.
Lee said the government had set up a task force to help mainland companies go global, which had already assisted more than 360 mainland firms in setting up or expanding in Hong Kong, with about 30 per cent establishing regional or global headquarters or corporate treasury centres. The task force had built a platform of over 200 professional service providers covering eight categories, including legal, financial and testing services, he added.
Hong Kong's trade network was expanding, with free-trade agreements with 21 economies and investment treaties with 34, Lee said. The city would continue to explore emerging markets and deepen participation in the Belt and Road Initiative. On innovation, Lee said Hong Kong aimed to become a global innovation and technology hub by 2030, linking the Greater Bay Area, the mainland and the world, and would align with national tech strategy in areas like core tech and strategic industries.
The chief executive said Hong Kong had five universities among the world's top 100, and would invest in education and talent attraction to build a high-end talent hub. The Northern Territories, or 'North of the City', would be developed as a strategic area for education, tech and talent, with nine new development zones already under construction, he said.