Patrick Lee: The Hong Kong government is currently developing the first "Hong Kong Five-Year Plan" at full speed, actively aligning with the national "Fifteenth Five-Year Plan".

On March 16, the Chief Executive of Hong Kong, John Lee Ka-chiu, delivered a speech at the Hong Kong Economic Summit 2026, stating that he will lead the Hong Kong Special Administrative Region government to unite society and actively connect with the national "Five-Year Plan". The Hong Kong government is currently developing its first "Five-Year Plan for Hong Kong", which will provide clear guidance for the social, economic, and livelihood development in Hong Kong, and promote Hong Kong's better integration and service within the national development framework. Entering 2026, major economies continue to expand. In January of this year, the International Monetary Fund predicted that global economic growth would continue at a moderate rate of 3.3% for the entire year, similar to last year. However, the geopolitical situation is complex and volatile, with turmoil and upheaval around the world, causing destruction of lives and facilities, disrupting supply chains and economic order. Currently, there is uncertainty in the global economic outlook, which affects the monetary policies of major economies and the confidence of financial markets in technology investments. China is the world's second-largest economy, and despite uncertainties in the global environment, it continues to maintain steady growth. The country's real GDP increased by 5% year-on-year in the whole of last year, with an economic total exceeding 140 trillion yuan. This year, China's economic growth target is set at 4.5% to 5%, continuing to implement a more proactive fiscal policy and moderately accommodative monetary policy. Under the principle of "one country, two systems", Hong Kong has the advantage of being closely connected to the mainland and the strong support of national development, providing Hong Kong with a huge market force and development opportunities. John Lee Ka-chiu mentioned that last year, Hong Kong's economy performed vigorously, with strong growth in external trade, recovery in private consumption, and accelerated growth in fixed investment, leading to a growth rate of 3.5% for the entire year, marking the third consecutive year of positive growth. Hong Kong's overall goods exports rose significantly by 12%, with notable growth in exports to mainland China and ASEAN countries. Hong Kong's service exports also increased by 6.3%, with a significant increase in visitor arrivals by 12.1%, and continued growth in cross-border financial services and transportation volume. The government predicts a economic growth rate of 2.5 to 3.5% in 2026. 2026 marks the beginning of the national "Five-Year Plan" and is a key year for Hong Kong to plan the future development direction for the next five years. The 4th session of the 14th National People's Congress in Beijing last week successfully concluded, passing the resolution on the national "Five-Year Plan" outline. The "Five-Year Plan" is the blueprint and action plan for the future economic and social development of the country for the next five years, setting clear goals for different categories to lead the country in further comprehensive deepening of reform and promoting China's modernization. The country is leading in the development of innovation technology, artificial intelligence, big data, infrastructure construction, and is actively building a strong domestic market, accelerating the cultivation and growth of new growth drivers, and advancing self-reliance in high-level science and technology. Hong Kong can make good use of the opportunities in the national industrial ecology and development to achieve a breakthrough in its own emerging industries. As a special administrative region of the country, Hong Kong must have a macro perspective and a deeper understanding of the strategic goals of this plan, to ensure a clear understanding of the important opportunities and mission for Hong Kong in integrating and serving the national development framework. Hong Kong can leverage its advantages under the principle of "one country, two systems", to create a strategic hub for dual circulation. The "Five-Year Plan" once again affirms Hong Kong's unique advantages and important role as "backed by the motherland and connected to the world". The plan proposes to strengthen mechanisms for Hong Kong to play a better role in national opening-up, support Hong Kong's deep participation in the high-quality construction of the Belt and Road Initiative, and utilize its professional service advantages to assist enterprises in going global. The Hong Kong government has set up a "Mainland Enterprises Going Global Task Force" to accurately connect the mainland's innovation and creation capabilities, Hong Kong's international service strength, and the eager purchasing power of global investors seeking safe investment opportunities, to help quality enterprises go global and attract international funds. John Lee Ka-chiu stated that driving economic development in multiple tracks is essential, by consolidating and enhancing traditional advantages, while cultivating new productive forces. The "Five-Year Plan" supports Hong Kong in consolidating and enhancing its status as an international financial, shipping, trade hub and international aviation hub, strengthening global offshore RMB business hub, international asset and wealth management center, international risk management center, supporting Hong Kong in building an international innovation and technology center, deepening international legal and dispute resolution services, establishing a regional intellectual property trade center, and enhancing cultural and artistic exchanges between China and foreign countries. The plan also includes supporting Hong Kong in accelerating the development of the Northern Metropolis Area and creating an international high-end talent cluster. Hong Kong will seize opportunities to translate them into tangible results that drive high-quality economic development and improve people's livelihoods. The government will continue to consolidate and enhance advantages in finance, shipping, aviation, etc., by attracting more leading enterprises to settle in Hong Kong, creating more high-value investment and employment opportunities. The "Five-Year Plan" explicitly requires Hong Kong to accelerate its development of the Northern Metropolis Area. This area, covering one-third of Hong Kong's land area and future population, is a new engine for Hong Kong's economic development. The government is implementing innovative cooperation models through zone development and incentive policies to provide new land for innovative technology development, injecting continuous dynamics to drive new productive forces. The ultimate goal of development is to improve the quality of life of the citizens. Hong Kong's Five-Year Plan will show the economic and social development of Hong Kong from 2026 to 2030, focusing on continually improving people's livelihoods, consolidating Hong Kong's competitiveness, and ensuring this virtuous cycle continues. Since the beginning of this year, local consumption and business environment in Hong Kong have improved, lower interest rates have also benefited asset markets, driving growth in consumption and investment activities. The Hong Kong government will strive to enhance the well-being of its citizens with greater effort, enabling citizens to share the benefits of economic development and promoting Hong Kong's progress.