Hong Kong aims to achieve new breakthroughs in its economic development and push the Northern Metropolis development, the city’s first five-year plan revealed.

The blueprint released on Wednesday said Hong Kong will consolidate and enhance its status as international financial, maritime, and trade centres and an international aviation hub, while expediting the city’s development into an international innovation and technology centre and a hub for high‑calibre talent.

Delivering the five-year plan, Chief Executive John Lee said these efforts would enhance Hong Kong’s edge in global competition.

“To ensure our long-term prosperity and stability, we must leverage our existing advantages while expediting development of new quality productive forces,” he said.

“We must consolidate and enhance Hong Kong's status as international financial, maritime and trade centres, and develop Hong Kong into an international I&T centre and a global hub for high calibre talent.

“We must advance the development of the ‘four centres and one hub’ at full steam to sustain economic development and improve people's livelihood.”

The blueprint also vowed to strengthen Hong Kong’s role as a global offshore renminbi hub while deepening financial innovations, as well as expand the city’s global competitiveness and influence.

It also said Hong Kong would promote the integrated development of education, technology and talent in the Northern Metropolis.

“The synergised development of industrial parks, universities, and research institutions will foster an innovation ecosystem where industry, academia, and research are deeply integrated,” according to the five-year plan.

“We will also adopt the smart city concept in the planning of transport, housing, greening as well as other public facilities.”

The plan also stated that the city would continue to enhance people’s livelihoods by improving public services across various aspects including healthcare, education, housing and elderly care.

The city would also take an active part in taking forward major national strategies and deepen the development of the Greater Bay Area.

According to the document, real GDP growth reached 3.6 percent in 2025 and the government aims to achieve growth "within a reasonable range" moving forward.

Import and exports of both goods and services are projected to see "steady growth alongside global economic expansion", whereas average spending on innovation is expected to go up by 10 percent each year.

Meanwhile, the number of foreign companies setting up shop in Hong Kong is forecast to climb by 4-5 percent each year.



Edited by Edmond Fong