Hong Kong Launches First Five-Year Economic and Social Development Plan for 2026-2030.

Government announces the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)

The Government of the Hong Kong Special Administrative Region (HKSAR) today (September 16) announced the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong's First Five-Year Plan).

Formulated in the opening year of the National 15th Five-Year Plan, this inaugural Five-Year Plan for Hong Kong represents a major initiative of the HKSAR Government to uphold and enhance the executive-led system, and to improve the efficacy of its governance. It also addresses the strategic planning need for Hong Kong to proactively align with national development strategies, so as to better integrate into and serve the national development.

The Chief Executive, Mr John Lee, said, "This inaugural Five-Year Plan for Hong Kong is of monumental significance. Not only is it an action agenda for Hong Kong to better capitalise on the aggregate advantages arising from national and international opportunities, but also a pathway for continuously enhancing social well-being. By formulating the Five-Year Plan, it shall shed light on Hong Kong's directions of development, optimise resource allocation, enhance social expectation certainty, and better protect social well-being as well as the interests of investors across the world. Hong Kong will become a more attractive, vibrant and opportunity-rich world city."

Open up new horizons and drive Hong Kong forward

Under Hong Kong's First Five-Year Plan, Hong Kong will focus on strengthening the four centres, developing the hub for high-calibre talent, consolidating and enhancing its competitive edge as an international city; expedite the development of the Northern Metropolis (NM) to spearhead spatial layout optimisation; deepening the development of the Guangdong-Hong Kong-Macao Greater Bay Area and creating an international collaboration network; enhancing social well-being and refining the social protection framework; as well as adopting a holistic approach to development and security while enhancing public governance efficacy. Hong Kong's First Five-Year Plan sets out a total of 105 indicators covering a wide range of areas, including 22 major indicators in Part 1, as well as 57 and 26 work indicators contained in the tables and main text of individual chapters respectively.

Strengthen the four centres, develop the hub for high-calibre talent, consolidate and enhance Hong Kong's edge in global competition

In the coming five years, Hong Kong will continue to consolidate and enhance "four centres and one hub", that is to consolidate and enhance its status as an international financial, maritime, and trade centre, and an international aviation hub, while expediting the city's development into an international innovation and technology (I&T) centre, and building an international hub for high-calibre talent, attracting global capital, talent, and financial enterprises.

To consolidate and enhance its status as an international financial centre, Hong Kong will strengthen its roles as a global offshore Renminbi business hub, an international asset and wealth management centre, and an international risk management centre, while developing a commodity trading ecosystem and aligning financial services with the needs of the real economy.

As an international maritime centre, Hong Kong will stabilise its container throughput, add value and strengthen synergy, driving a "volume to value" transformation of the Hong Kong Port through developing a high value-added maritime service ecosystem. To enhance Hong Kong's status as an international aviation hub, it will deeply engage in the development of the national aviation network and continue to launch new routes. Hong Kong will also develop an aviation industry ecosystem with a global edge and build Hong Kong into the Asia-Pacific hub for innovative low-altitude applications.

As an international trade centre, Hong Kong will continue to uphold free trade, maintain a zero custom tariff, and support the rules-based multilateral trading system. Hong Kong will continue to expand its international economic and trade network, develop a high value-added supply chain services centre, continuously pursue the comprehensive upgrade of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), and develop digital trade as well as cross-border e-commerce.

For the development of an international I&T centre, Hong Kong will press full steam ahead with the development of the new "three major I&T parks and five key research and development institutions" paradigm. The three major I&T parks, i.e. the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone and San Tin Technopole, the Science Park, and Cyberport, will form the "north-central-south" development paradigm in Hong Kong. In alignment with the core areas of strategic frontier technologies in the country and Hong Kong, the five key research and development institutions (i.e. the Hong Kong Productivity Council, the Hong Kong Applied Science and Technology Research Institute, the Hong Kong Microelectronics Research and Development Institute, the Hong Kong Artificial Intelligence Research and Development Institute and the Life and Health Technology Research Institute) will enhance Hong Kong's public research system and the efficacy of its I&T framework. Through promoting new industrialisation, Hong Kong will foster the upgrading and transformation of traditional industries, developing and strengthening emerging industries, and planning for future industries. Hong Kong will also intensify the regulatory reform of drugs and medical devices, build a comprehensive infrastructure and digital portal for clinical trial, and nurture local medical innovation talent, with a view to developing Hong Kong into an international health and medical innovation hub.

To develop an international hub for high-calibre talent, Hong Kong will promote the integrated development of education, technology, and talent, by which it will cultivate and attract talent for technological innovation and industry development, aligning with national strategic needs. At the same time, Hong Kong will establish the "Study in Hong Kong" brand, attracting and retaining non-local talent.

Hong Kong will continue to leverage its advantages as an international city. With the unique edge as a common law jurisdiction under the "one country, two systems" principle, Hong Kong will deepen the efforts to develop the city into a centre for international legal and dispute resolution services, a hub for high-calibre legal talent, and a global capital of mediation. Hong Kong will develop a regional intellectual property trading centre through forging an intellectual property trading ecosystem. It will also develop an East-meets-West centre for international cultural exchange, through which Hong Kong will deepen the integrated development of culture, sports and tourism, and develop diverse arts, culture, and creative industries. Hong Kong will drive wider participation in sports, develop elite sports, maintain the city as a centre for major international sports events, enhance professionalism in sports, and develop sports as an industry. Hong Kong will also develop a core demonstration zone for multidestination tourism.

Expedite the development of the Northern Metropolis, spearhead spatial layout optimisation

The Northern Metropolis is a new engine for Hong Kong to develop new quality productive forces. It is also a main platform for Hong Kong to deeply participate in the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and to actively integrate into and serve the overall national development. A blissful, vibrant and innovative metropolis will be developed through an approach that is planning-oriented, infrastructure-led, industry-driven, and people-oriented, with the NM University Town, I&T, industry, and an environment suitable for living, work, and travel as the development objectives. The Government will develop the San Tin, Hung Shui Kiu, and Ta Kwu Ling University Towns based on the development concept of "One Town, Five Elements", i.e. education, technology, industry, talent, and urban development. Each university town comprises a campus area, a technology area, an industry area, and a living community area, forming a hub for talent development. The San Tin University Town will be positioned to focus on the development of medicine, life and health technology, AI, robotics, microelectronics, and emerging industries, serving as the core of future I&T development in Hong Kong. The Hung Shui Kiu University Town is positioned as a cultivation centre for smart manufacturing applied post secondary education and internationalised talent, fostering a diverse range of industries. Meanwhile, the Ta Kwu Ling University Town will incorporate arts and blue green development elements, while reserving strategic development space to support future development needs.

Deepen the development of the Guangdong-Hong Kong-Macao Greater Bay Area and create an international collaboration network

Hong Kong will continue to deepen its participation in the development of the Guangdong-Hong Kong-Macao Greater Bay Area. Hong Kong will continue to promote the "hard connectivity" of infrastructure, including cross-boundary railway projects. It will foster "soft connectivity" by deepening the alignment of rules and mechanisms, such as facilitating the mutual recognition of professional qualifications in the Guangdong-Hong Kong-Macao Greater Bay Area and facilitating a cross-boundary flow of factors. To achieve "connectivity of hearts" among the residents of Guangdong, Hong Kong and Macao, Hong Kong will advance collaboration in health care, elderly care, environmental protection, sports, culture and tourism, etc, developing the Guangdong-Hong Kong-Macao Greater Bay Area into an international first-class bay area with global influence. At the same time, Hong Kong will continue to deepen international co-operation and exchanges, leverage its strengths as a world city to actively participate in the work of international organisations, and deeply participate in the high-quality co-operation under the Belt and Road Initiative, so as to create an international collaboration network.

Enhance social well-being and refine the social protection framework

The ultimate objective of governance lies in enhancing social well-being. The dedicated part in Hong Kong's First Five-Year Plan sets out clearly the strategic direction in livelihood-related areas such as education, youth and women's development, a harmonious and inclusive society, health care, housing, strengthened support for the disadvantaged groups, labour protection, elderly care, green transformation, etc, so as to continuously strengthen the sense of fulfilment, happiness, and security in the community, enabling the citizens to benefit from the high-quality development of the country and the city.

Adopt a holistic approach to development and security, enhance public governance efficacy

Security is the prerequisite for development, while development reinforces security. Under the guidance of the holistic national security approach, Hong Kong will strengthen the top-level structure, and enhance the legal system and enforcement mechanism for safeguarding national security. Hong Kong will actively explore the development of the "AI City Brain" integrated city management system and strengthen disaster prevention, mitigation and response capabilities so as to enhance the resilience of its economy and society across the board. Meanwhile, Hong Kong will deepen the reform for the public governance implementation mechanism, and advance the digitalisation and intelligentisation of public administration, thereby building an efficient government.

A framework is established under Hong Kong's First Five-Year Plan where "Five Year Plan leads, Policy Address implements, Budget supports, annual report gives accounts", delineating division of labour to advance the relevant tasks in an orderly manner. The implementation of the Five-Year Plan will be monitored and assessed, with adjustments made in light of actual circumstances.

Mr Lee concluded, "The Government will stay committed to the 'people-oriented' ethos, strive relentlessly to enhance social well-being, and sustain economic development, so as to build a Hong Kong that is more open, more inclusive, more liberal, more prosperous and safer."

For the full document of Hong Kong's First Five-Year Plan and related information, please visit the dedicated website (www.hk5yplan.gov.hk).

Source: AI-found images

Full text of "The Chief Executive's 2026 Policy Address" (3)

(C) International Trade Centre

75. Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025, two places up from the previous year, according to the "Global Trade Outlook and Statistics" report, published by the World Trade Organization (WTO). We will consolidate and enhance Hong Kong's status as an international trade centre, playing a greater role in the high-level opening up of our country.

Deepen the Work of the GoGlobal Task Force

76. Since the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) was established last October, it has provided assistance, including listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements for more than 340 Mainland enterprises. About 30% of them position Hong Kong as their regional/international headquarters or corporate treasury centre (CTC).

77. In June, I led a delegation, which included representatives of Mainland enterprises, to visit Central Asia, where we met with local enterprises to open up business opportunities. Many of the Mainland companies successfully matched with local partners for collaborative projects. The GoGlobal Task Force will continue to help enterprises expand their businesses into Central Asia.

78. The GoGlobal Task Force will further consolidate Hong Kong's role in helping Mainland enterprises establish their presence abroad. It will:

(i) Deepen collaboration with trade associations of both places to provide more targeted support services to Mainland enterprises.

(ii) Strengthen collaboration with professional organisations to train talent for the GoGlobal initiative and enhance professional services.

(iii) Extend the Cross-sectoral Professional Services Platform, adding a new sector to provide environmental, social and governance (ESG) services, with a view to leveraging Hong Kong's international expertise to assist Mainland enterprises in meeting the requirements of their target markets.

(iv) Enhance the platform's matching function to encourage connections between Mainland enterprises and Hong Kong professional service providers, and keep track of the effectiveness of individual cases.

79. The IA will promote the development of a specialty insurance business that aligns with the real economy to diversify and manage risks for enterprises to "go global".

80. The Government will continue to assist the local media to expand their network beyond Hong Kong, telling the good stories of Hong Kong.

Build a High Value-added Supply Chain Services Centre

81. As our country improves the comprehensive overseas services system and guides the orderly development of cross-border industry and supply chains, it creates enormous opportunities for Hong Kong. Since announcing the building of a high value-added supply chain services centre in the 2024 Policy Address, the Government has been enhancing strategies to encourage Mainland enterprises to leverage Hong Kong as their supply chain services centre.

82. Hong Kong will better align with our country's modern industrial system, including driving the upgrade and transformation of traditional industries, as well as cultivating emerging pillar industries, in order for enterprises to take advantage of our strengths in international finance, trade, shipping, scientific research, branding, design and exhibitions, as well as our global network, to connect with overseas supply chains and launch international businesses.

Encourage More Financial Institutions to Set Up Headquarters in Hong Kong

83. Mainland financial institutions with stronger capital strength and higher level of compliance and internal control standards are encouraged to set up international headquarters in Hong Kong, on the premise of compliance with laws and regulations in a risk-controlled manner and voluntary commercial participation, to consolidate their businesses and management functions outside the Mainland. We support major Chinese securities firms' plans, in compliance with laws and regulations, to increase capital for their subsidiaries in Hong Kong, and utilise Hong Kong as a booking centre for risk management and capital market operations.

Encourage Enterprises to Establish Corporate Treasury Centres and Sourcing Centres in Hong Kong

84. The Government has completed its review of tax concessionary measures applicable to CTCs, as well as a public consultation on recommendations to provide pre approved CTCs and their associated companies with additional tax benefits and flexibilities. An amendment bill is expected to be introduced into the LegCo in the first half of 2027.

85. A tax concession of 5%, or half-rate, may be offered under the preferential policy packages on attracting enterprises and investments, depending on the investment plan of individual enterprises and their actual contribution to Hong Kong's economy. This will attract high value-added enterprises to set up headquarters or regional headquarters in Hong Kong to manage their supply chain and sourcing businesses.

Strengthen Innovation and Technology Enterprises

86. The Government launched the Pilot Innovation and Technology Accelerator Scheme in January. It was designed to accelerate the growth of innovation and technology (I&T) companies, by attracting professional I&T enterprise service providers with proven track records in and beyond Hong Kong to set up accelerator bases in Hong Kong.

87. One of them has set up an accelerator base at Cyberport, serving nearly 100 member enterprises, including eight listed companies with a total market value exceeding $180 billion. Focusing on key industries such as AI, embodied intelligence and robotics, new energy and new materials, and biomedicine, the company assists I&T companies in going global by leveraging Hong Kong's I&T ecosystem, application scenarios, capital markets and overseas networks.

88. The Green Tech Fund also supports Hong Kong research institutions and companies in conducting research and development (R&D) in Hong Kong and the Mainland to develop low-carbon technologies with commercialisation potential, helping more green technologies and products to go global.

Empower the Transformation and Upgrading of Traditional Industries through Supply Chain Services

89. The Development Bureau (DEVB) has signed a co-operation agreement with the relevant Mainland organisation to establish a collaborative mechanism for construction standardisation and jointly formulate the GBA construction standards. This will help local and Mainland construction companies venture into the global market by making good use of Hong Kong's strengths in areas such as testing and certification. Advanced construction technology will be showcased by organising international conferences and large-scale events, reinforcing Hong Kong's position as an international infrastructure centre.

90. The Government will establish the Task Force on High Quality Development of Textile and Fashion Industry, to be led by the Secretary for Commerce and Economic Development. It will enhance collaboration between government and industry representatives to pursue high-quality development of the textile and fashion industry in areas including I&T, fashion design, supply chain management, sustainable development and brand promotion, as well as nurturing talent, thereby assisting the industry to connect with Mainland and overseas markets.

Pursue the Comprehensive Upgrade of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)

91. Following the signing of an amendment agreement under the framework of CEPA in 2024, which further liberalised trade in services with the Mainland, the Commerce and Economic Development Bureau (CEDB) will sign a Memorandum of Understanding (MoU) with the Ministry of Commerce and continue to jointly pursue the comprehensive upgrade of CEPA, with a view to deepening co-operation with the Mainland services sectors, as well as further expanding the Mainland market access and liberalised areas.

Expand International Economic and Trade Network

92. We will continue to deepen our ties overseas, including the European, American, ASEAN and Middle East markets, while actively exploring emerging markets such as Central Asia and Africa, and focus on economies of high potential and strategic importance, with a view to forging closer economic and trade co-operation.

93. With the Economic and Trade Office (ETO) in Kuala Lumpur having officially commenced operation, the four ASEAN-based ETOs will deepen Hong Kong's trade and investment promotion in ASEAN and neighbouring Asian countries.

94. We are exploring the establishment of an ETO in Kazakhstan, and in the meantime leveraging the existing networks of the ETOs, the Hong Kong Trade Development Council (HKTDC) and InvestHK to step up trade and investment promotion work in priority Central Asian countries.

95. We signed an investment agreement with Bangladesh just last week, and will work towards signing investment agreements with Qatar and Peru as early as possible. We are negotiating new investment agreements with Saudi Arabia and Egypt. We are also exploring new investment agreements with Kazakhstan and Uzbekistan.

Promote the Development of Digital Trade

96. Upon coming into full operation, Phase 3 services of the Trade Single Window will provide a single consolidated platform for submission of import and export declarations and cargo information regarding different transport modes, to help the trade improve efficiency and reduce operating costs.

97. The Government will expand the "Single Submission for Dual Declaration" Scheme with the General Administration of Customs of the People's Republic of China to cover more trade documents and transport modes, and advance connectivity with ASEAN's Single Window. The Trade Single Window will also connect with the HKMA's Commercial Data Interchange (CDI) in mid 2027, facilitating banks in making reference to trade data for processing financing applications.

98. The Government will introduce, within this year, a bill on facilitating the digitalisation of "business to business" trade documents, to reduce the administrative costs of businesses and improve traceability of trading activities.

99. The HKMA will explore further applications of tokenised deposits, including collaborating with the Mainland to study trade-financing use cases, with pilot transactions to be completed by the end of the year.

Promote the Development of Convention and Exhibition Industry

100. The Government is taking forward the Wan Chai North Redevelopment project, as planned, for the expansion of the Hong Kong Convention and Exhibition Centre and related facilities. A task force to be led by the Deputy Financial Secretary will be set up to steer the project. The HKTDC will submit a proposal on the development approach of the project to the Government early next year.

101. The Government has earmarked $100 million to attract high-quality, large-scale international exhibitions with new elements to Hong Kong. The first such international flagship exhibition brought to Hong Kong will be held in November, centred around super yachts, as well as premium lifestyle elements, and featuring international leading brands.

All users in the sites of the Wan Chai Government Offices Compound and the Kong Wan Fire Station in Wan Chai North will be moved out within 2028.

Source: AI-found images