With strong support from the central government, Hong Kong has made new strides in advancing from stability to prosperity over the past year, with additional preferential policies set to be introduced to further drive the city's development, a Chinese official said on Wednesday.
Lou Qinjian, spokesman for the fourth session of the 14th National People's Congress (NPC), was speaking at a press conference in Beijing one day before the annual session of China's highest organ of state power gets underway.
"Hong Kong's status as an international financial center has been further consolidated, with the city ranking third globally in the Global Financial Centers Index. The scale of IPO fundraising on the Hong Kong stock market has surged twofold year on year, topping global rankings. The city's business environment remains open and efficient, with Hong Kong retaining its position as the world's freest economy and returning to the top three in global competitiveness rankings. Moreover, the headquarters of the International Organization for Mediation (IOMed) has been established in Hong Kong, while the Asian Infrastructure Investment Bank (AIIB) and the International Institute for the Unification of Private Law (UNIDROIT) have announced setting up offices in the city," said Lou.
He noted that sci-tech innovation has emerged as a powerful new engine for Hong Kong's economic development, with major infrastructure projects also gaining momentum.
"Sci-tech innovation has become a new powerful engine driving Hong Kong's economic development. The number of companies operating in Hong Kong with parent entities based overseas or on the Chinese mainland has exceeded 10,000, marking a historic high. Construction of the Northern Metropolis and the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone is accelerating. The talent aggregation effect continues to strengthen with the city jumping to fourth globally and first in Asia in the 2025 World Talent Ranking," said Lou.
Outlining future directions, Lou affirmed that the central government will roll out additional strategic measures to support Hong Kong's development.
"Looking ahead, the central government will further deploy strategic measures within the framework of the 15th Five-Year Plan (2026–2030) to support Hong Kong in leveraging its unique advantages and playing a pivotal role, with additional preferential policies benefiting Hong Kong to be introduced," said the spokesman.
Lou highlighted that the recommendations for the 15th Five-Year Plan explicitly points out that China will "consolidate and enhance Hong Kong's status as an international financial, shipping, and trade center and support it in developing into an international innovation and technology center while also "supporting Hong Kong and Macao in building themselves into international hubs for high-caliber talent."
A major event in China's political calendar, the "two sessions," which refer to the annual meetings of the NPC, China's highest organ of state power, and the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the top political advisory body, will gather thousands of national lawmakers and political advisors from across the country for the concurrent gatherings.
This year, the fourth session of the 14th NPC is set to open on Thursday, while the fourth session of the 14th CPPCC National Committee already opened on Wednesday.
Hong Kong makes new strides from stability to prosperity over past year: spokesman
Hong Kong makes new strides from stability to prosperity over past year: spokesman
