Hong Kong's Chief Executive John Lee unveiled the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and his fifth Policy Address on September 16, rolling out measures to strengthen the city's four traditional centres—finance, trade, maritime, and aviation—while developing a hub for high-calibre talent and enhancing Hong Kong's competitive edge as an international city. The plan's significance lies in a fundamental mindset shift: planning Hong Kong's development with a longer-term vision and broader perspective to adapt with flexibility and diversity, as noted by Christopher Hui, Secretary for Financial Services and the Treasury. Each initiative aims to elevate Hong Kong from a "corridor of capital" to a "destination of choice," with profound implications for the city's long-term stability and prosperity.
As an international financial centre, Hong Kong will deepen its global offshore Renminbi business and capital market, develop an international asset and wealth management centre and risk management centre, enhance the securities market, and expand fixed income and commodity trading. This year, Hong Kong became the world's largest cross-boundary wealth management centre, and the government will continue to foster a more attractive asset and wealth management ecosystem. A commodity trading ecosystem will be developed with gold as an entry point, driving the clearing system, storage, supply, and infrastructure related to gold trading. The central clearing and settlement system for gold will launch in the first quarter of 2027, positioning Hong Kong as a key player in global gold trading.
In trade, Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025. The government plans to consolidate and enhance its status as an international trade centre, playing a greater role in the high-level opening up of the Chinese Mainland. Since the Task Force on Supporting Mainland Enterprises in Going Global was established last October, it has assisted over 340 Mainland enterprises with listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications, and fulfilling compliance requirements. The Task Force will strengthen collaboration with professional organisations to train talent and enhance professional services. Algernon Yau, Secretary for Commerce and Economic Development, said the plan proposes to continue expanding international economic and trade networks, forging free trade and investment agreements with economies of development potential or strategic locations, and expanding overseas offices to deepen ties and step up trade and investment promotion.
As an international maritime centre, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The plan will drive a "volume to value" transformation of the Hong Kong Port, capitalising on high value-added maritime services to develop Hong Kong into a "Global Maritime Capital." The industry will develop "Finance + Shipping," leveraging the city's well-established maritime finance, insurance, and maritime arbitration under common law to build an integrated ecosystem where Hong Kong-invested enterprises adopt Hong Kong law, take out Hong Kong insurance, and choose arbitration seated in Hong Kong.
Regarding aviation, Hong Kong's passenger throughput rose 15% year-on-year to 61 million last year, with flights to over 220 destinations. Air cargo throughput reached 5.07 million tonnes, making its airport the world's busiest cargo airport for the 15th year since 2010. To strengthen its position as an international aviation hub, Hong Kong will expand its aviation network and diversify business opportunities. The government will continue visiting South America, Africa, Central Asia, the Middle East, and the Caucasus to expedite new air services agreements and expand traffic rights, helping the industry explore new passenger and cargo sources.
For innovation and technology, the government will promote artificial intelligence applications across trades, balancing innovation and security to enhance competitiveness. In alignment with national strategic technology areas, Hong Kong will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials. It will also strive to raise the ratio of Total Domestic Expenditure on Innovation Activities to GDP to 3% after 2030. These initiatives, detailed in the First Five-Year Plan, aim to secure Hong Kong's long-term development and reinforce its role as a global city. For more information, visit Brand Hong Kong.
