Hong Kong outlines five-year plan to boost trade, investment and Belt and Road role
Hong Kong's commerce chief detailed plans to upgrade CEPA, expand free trade and investment agreements, and deepen Belt and Road cooperation under the city's first five-year plan, with a focus on linking mainland China and global markets.
Hong Kong's Secretary for Commerce and Economic Development outlined the city's first five-year plan on 8 October, promising to deepen economic integration with mainland China while expanding international trade and investment networks. Speaking during a Legislative Council debate, the secretary said the plan aims to strengthen Hong Kong's role as a bridge between the mainland and the world.
Under the Closer Economic Partnership Arrangement (CEPA) with mainland China, bilateral goods trade reached about HK$5.6 trillion in 2025, more than triple the level before CEPA took effect in 2003, averaging annual growth of 6.1 per cent. As of the end of August 2026, accumulated tariff concessions under CEPA totalled nearly 11 billion yuan. The five-year plan calls for a comprehensive upgrade of CEPA, and the government will work with the Ministry of Commerce to expand market access and service liberalisation, including pilot programmes in the Greater Bay Area.
The government is also implementing the third phase of a 'single window' for trade, enhancing connectivity with Guangdong's international trade single window and expanding the 'one declaration, two customs' scheme to facilitate cross-border cargo clearance. The Hong Kong Trade Development Council and government offices on the mainland will organise promotional events and set up 'Hong Kong pavilions' to help local businesses promote products and services.
On international agreements, Hong Kong has signed nine free trade agreements with 21 economies and 25 investment agreements with 34 overseas economies, including a new investment pact with Bangladesh signed in September 2026. The government aims to conclude pacts with Qatar and Peru soon, and is exploring new agreements with Saudi Arabia, Egypt, Kazakhstan and Uzbekistan. It will also continue to push for Hong Kong's early accession to the Regional Comprehensive Economic Partnership (RCEP).
Over the next five years, Hong Kong will focus on markets in Europe, the Americas, ASEAN and the Middle East, while exploring opportunities in Central Asia and Africa. The government is considering setting up an economic and trade office in Kazakhstan. In ASEAN, four existing offices will be strengthened to boost trade and investment promotion.
To support mainland companies expanding overseas, a dedicated task force established in October 2025 has helped over 340 firms set up or expand in Hong Kong, including listing, financing and compliance services. About 30 per cent of these firms have established regional or international headquarters or corporate treasury centres in Hong Kong. The task force will expand its services to include environmental, social and governance (ESG) support and improve matching with professional service providers.
The 11th Belt and Road Summit in September 2026 attracted over 6,200 political and business leaders from more than 70 countries, resulting in over 60 memoranda of understanding and new projects worth over US$3.1 billion. Hong Kong will enhance the summit's role as a trade platform and continue to lead business delegations to Belt and Road countries, promote project opportunities and strengthen capacity-building initiatives.