Financial Secretary Paul Chan said on Sunday that Hong Kong has great potential, as the country’s 15th Five-Year Plan brings boundless opportunities.

He said the plan offers a clear direction for the SAR’s future development.

In a blog post, Chan said Hong Kong has unique advantages under the One Country, Two Systems principle. He said the city can contribute by leveraging the advantages of the vast mainland market and coordinating international resources.

“As the country develops new quality productive forces and promotes the development of future industries such as artificial intelligence, low-altitude economy and biomedicine, Hong Kong can make good use of its advantages in international scientific research platforms, professional services and capital market to introduce global innovation resources to the country while injecting new momentum into the local economy,” he said.

Chan also said the establishment of the Northern Metropolis would further drive innovative collaboration in the Greater Bay Area.

The finance chief also highlighted the importance of AI training in Hong Kong, saying it would ensure the workforce’s adaptability to future structural changes in the economy.

Meanwhile, Chan said that despite a turbulent global landscape and complex geopolitics, China has effectively withstood external challenges and maintained economic stability.

Hong Kong must align with the 15th Five-Year Plan and work on its own five-year plan to drive high-quality development, he added.


Edited by Aaron Tam