Hong Kong has launched its first Five-Year Plan for Economic and Social Development (2026-2030), aiming to secure the long-term competitiveness of its pillar industries. Chief Executive John Lee announced the plan alongside his fifth Policy Address on September 16, outlining measures to reinforce Hong Kong's status as an international financial, maritime, trade, and aviation hub while also developing as a high-calibre talent hub and innovation and technology centre. The plan is designed to ensure the city's high-quality development and long-term stability, according to the government.
In finance, Hong Kong will deepen its global offshore Renminbi business and capital market, develop as an international asset and wealth management centre, and enhance its securities market. The city has already become the world's largest cross-boundary wealth management centre this year, and the government plans to further develop a commodity trading ecosystem, starting with gold. A central clearing and settlement system for gold will be launched in the first quarter of 2027. Christopher Hui, Secretary for Financial Services and the Treasury, said the plan represents a mindset shift: "We must plan Hong Kong's financial development with a longer-term vision and broader perspective to adapt with flexibility and diversity." He added that the goal is to elevate Hong Kong from a "corridor of capital" to a "destination of choice."
As an international trade centre, Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025. The government will expand its global economic and trade network, forge new free trade and investment agreements, and support Mainland enterprises going global. The Task Force on Supporting Mainland Enterprises in Going Global has already assisted over 340 Mainland enterprises with listing, capital raising, and compliance. Algernon Yau, Secretary for Commerce and Economic Development, said the plan aligns with the National 15th Five-Year Plan's call for true multilateralism and will expand Hong Kong's overseas offices and networks.
In maritime and aviation, Hong Kong aims to transform its port from volume to value, developing high value-added services like maritime finance, insurance, and arbitration under common law. The city has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The airport, the world's busiest cargo airport for the 15th year since 2010, saw passenger throughput rise 15% last year to 61 million, with flights to over 220 destinations. The government will expand aviation networks and traffic rights, targeting regions such as South America, Africa, and the Middle East.
For innovation and technology, Hong Kong will accelerate AI applications across trades while balancing innovation and security. It will focus on core technologies including life and health, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials. The government aims to raise the ratio of Total Domestic Expenditure on Innovation Activities to GDP to 3% after 2030. These initiatives are expected to enhance Hong Kong's international competitiveness and provide new opportunities for businesses and investors. More information can be found at https://www.brandhk.gov.hk/.
