HK poised for growth in 15th Five-Year Plan era says financial secretary

Hong Kong's financial secretary, Paul Chan, has emphasized the city's pivotal role as a key economic hub in the 15th Five-Year Plan era, envisaging vast opportunities for growth during the 2026-2030 period. He asserted that Hong Kong is strategically positioned to advance significantly.

In a recent blog post, Chan noted that the current "two sessions" in Beijing have sparked extensive discussions on the draft outline of the 15th Five-Year Plan, which serves as a vital framework for national economic and social development.

He characterized the plan as a comprehensive roadmap for China's high-quality development, crucial not only for national modernization and rejuvenation but also as a guide for Hong Kong to seize emerging opportunities.

Chan acknowledged the complex and volatile international landscape, marked by geopolitical tensions and a sluggish global economy, arguing that these circumstances underscore the necessity for national strength in both technological and economic sectors.

For Hong Kong, a thorough understanding of the strategic initiatives within the 15th Five-Year Plan is essential. He emphasized the importance of actively aligning with this plan and contributing to the formulation and implementation of Hong Kong's own five-year development strategy, focused on promoting high-quality growth.

John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced on February 4 that Hong Kong will develop its first five-year development blueprint to better align with the national agenda set forth in the 15th Five-Year Plan.

Lee stated that he would lead the Hong Kong government, including all bureaus and departments, in creating this plan, marking a significant step as the country embarks on its 15th Five-Year Plan.

According to Lee, Hong Kong's economy is projected to grow by 3.5 percent year-on-year in 2025, with exports and imports of goods increasing by 12 percent.

Chan stressed that leveraging its unique advantages under the "One Country, Two Systems" framework, Hong Kong serves as an international financial, shipping, and trade hub. Its role as a gateway to both the Chinese mainland and global markets positions it as an attractive platform for foreign investors.

Furthermore, Chan highlighted Hong Kong's capability to support the development of new quality productive forces in emerging sectors, such as artificial intelligence and the low-altitude economy. With its established international research platforms, professional services, and strong capital markets, Hong Kong is poised to draw global innovation resources, injecting fresh momentum into its economy.