Hong Kong's Chief Executive John Lee has unveiled the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) alongside his fifth Policy Address, outlining measures to reinforce the city's four traditional economic centres and develop new growth engines. The plan, announced on September 16, represents a significant strategic shift toward long-term planning and diversification, aiming to elevate Hong Kong from a "corridor of capital" to a "destination of choice," according to Christopher Hui, Secretary for Financial Services and the Treasury.
Central to the plan is the consolidation of Hong Kong's status as an international financial centre. The government will deepen the offshore Renminbi business, develop an international asset and wealth management centre, and enhance the securities market. Hong Kong has already become the world's largest cross-boundary wealth management centre this year, and the government aims to build a more attractive ecosystem. A key initiative is the development of a commodity trading ecosystem, starting with gold, including the launch of a central clearing and settlement system for gold in the first quarter of 2027.
As an international trade centre, Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025. The Task Force on Supporting Mainland Enterprises in Going Global, established last October, has assisted over 340 Mainland enterprises with listing, compliance, and certifications. The plan proposes expanding international economic and trade networks by forging free trade agreements and investment agreements with economies of strategic potential. "In alignment with the National 15th Five-Year Plan's call to advocate and practise true multilateralism, the First Five-Year Plan proposes to continue expanding international economic and trade network," said Algernon Yau, Secretary for Commerce and Economic Development.
Hong Kong's maritime sector, ranked fourth globally in comprehensive strength for seven consecutive years, will undergo a "volume to value" transformation to become a "Global Maritime Capital." The plan promotes high value-added services through an integrated ecosystem where Hong Kong-invested enterprises adopt Hong Kong law, take out Hong Kong insurance, and choose arbitration in Hong Kong. In aviation, Hong Kong International Airport has been the world's busiest cargo airport for 15 years since 2010, handling 5.07 million tonnes of cargo and 61 million passengers last year, with flights to over 220 destinations. The government will expand air services agreements, particularly in South America, Africa, Central Asia, the Middle East, and the Caucasus.
Additionally, Hong Kong aims to become an international innovation and technology centre, promoting artificial intelligence applications across trades while balancing innovation and security. Focus areas include life and health, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials. The government targets raising the ratio of Total Domestic Expenditure on Innovation Activities to GDP to 3% after 2030.
The First Five-Year Plan underscores Hong Kong's commitment to securing its long-term prosperity and stability by leveraging its unique advantages under "One Country, Two Systems." For more information, visit Brand Hong Kong.
