HKICPA: Policy Address and First Five-Year Plan to Promote AI Application and Deepen Greater Bay Area Collaboration

The HKICPA welcomes the Chief Executive's publication of Hong Kong's first Five-Year Plan and the 2026 Policy Address. HKICPA Chief Executive Officer Lai Tsui Pik said: "The 2026 Policy Address and the first Five-Year Plan provide a clear roadmap for coordinated action. The HKICPA will support the implementation of the relevant measures by promoting the responsible application of artificial intelligence, digital transformation, sustainable development, and nurturing talent with the skills needed for the future. We will work closely with the Government and other stakeholders to further enhance the accounting profession's contribution to Hong Kong's development and to help the industry seize the development opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area." The HKICPA supports the First Five-Year Plan for Economic and Social Development. The Plan sets out a number of initiatives to align Hong Kong's development more closely with national development strategies. The HKICPA particularly welcomes the "Finance+" measures therein to further consolidate Hong Kong's status as an international financial centre. Expanding cross-border investment and financing channels will bring new opportunities for accounting, auditing and assurance professionals; and the continued development of green finance will also help establish a robust regulatory regime for sustainability assurance. The HKICPA also welcomes the 2026 Policy Address's emphasis on promoting the application of artificial intelligence. As artificial intelligence reshapes audit and accounting practices, the relevant initiatives will help boost productivity and enable accounting professionals to devote more effort to high-value work requiring professional judgment. HKICPA Chairman Sun Tak Kei said: "Hong Kong's first Five-Year Plan will further enhance Hong Kong's competitiveness and promote Hong Kong's deeper integration into the overall development of the country. Trustworthy financial reporting and high-quality auditing are important cornerstones for maintaining market confidence and consolidating Hong Kong's position as a leading international financial centre. The HKICPA will continue to be committed to safeguarding the public interest, upholding audit quality, and promoting the establishment of a resilient, future-oriented accounting profession to support Hong Kong's long-term economic development."