History often presents pivotal moments when a city must choose between clinging to the familiar or embracing transformative change. Hong Kong now stands at such a crossroads. Chief Executive John Lee Ka-chiu’s announcement that he will personally lead a task force to formulate the city’s first five-year development blueprint represents far more than administrative procedure — it signals a fundamental shift in how the Special Administrative Region conceives of its future within the national framework.
This initiative aims to align Hong Kong’s goals with the nation’s 15th Five-Year Plan (2026-30) across key policy areas, marking a watershed moment in the city’s approach to strategic planning. The significance of this alignment cannot be overstated. For too long, Hong Kong has operated with a fragmented approach to long-term development, relying on annual Policy Addresses and sector-specific blueprints that lacked the cohesion and forward vision necessary to navigate an increasingly complex global landscape.
The timing of this initiative is particularly astute. China’s 15th Five-Year Plan focuses on innovation-driven growth, technological advancement, sustainability and economic resilience, with priorities on strengthening the manufacturing sector and achieving technological self-reliance. These national priorities create unprecedented opportunities for Hong Kong to leverage its unique strengths while contributing meaningfully to the country’s modernization goals.
Consider the pragmatic example of Singapore, a city-state that has long employed strategic economic planning with remarkable success. Singapore’s success reflects its open and outward-oriented development strategy, with the government playing a highly active role in planning and guiding the economy since independence in 1965. Hong Kong’s new blueprint approach borrows from this wisdom, recognizing that systematic planning and government coordination can enhance rather than constrain market dynamism.
The blueprint will not only cover economy and finance, but also key social and livelihood areas like education, healthcare, housing, and youth development, with the chief executive personally heading a cross-departmental task force to coordinate efforts. This comprehensive scope demonstrates the special administrative region government’s recognition that true development cannot be measured by GDP growth alone. It must encompass the quality of life that Hong Kong residents experience daily — from affordable housing to educational opportunities for our young people.
Hong Kong’s institutional strengths — such as its adherence to common law, free capital flows, and globally recognized regulatory frameworks — remain robust. Hong Kong’s success lies not in competing with other mainland cities, but in deepening its irreplaceable role within the national ecosystem
The response from various sectors of Hong Kong society has been encouraging. Lawmaker Priscilla Leung Mei-fun welcomed the initiative, noting that having studied law on the Chinese mainland in the 1980s, she has seen firsthand how previous five-year plans have driven substantial and rapid progress across the country. This historical perspective matters enormously. The mainland’s transformation over recent decades — from an agrarian society to a technological powerhouse — owes much to the disciplined execution of successive five-year plans.
Moreover, Hong Kong’s economic fundamentals remain extraordinarily strong, providing a solid foundation for this strategic pivot. In 2025, Hong Kong ranked as the world’s top IPO venue, with IPO fundraising reaching approximately HK$285.8 billion ($36.6 billion), cementing the city’s status as the global leader. Hong Kong also once again ranked as the world’s freest economy in the Fraser Institute’s Economic Freedom of the World 2025 Annual Report. These achievements demonstrate that closer integration with national development strategies need not compromise the city’s competitive advantages.
The Guangdong-Hong Kong-Macao Greater Bay Area initiative provides a compelling model for what coordinated planning can achieve. The Greater Bay Area’s combined economic output is expected to surpass 15 trillion yuan ($2.17 trillion) in 2025, a testament to what regional integration can accomplish. Physical connectivity has accelerated with intercity railways shifting from isolated lines to a networked system, pushing its total length beyond 4,000 kilometers, while cross-border water passenger routes have expanded to 17 lines. Hong Kong’s five-year blueprint must position the city to maximize these emerging opportunities.
Critics may argue that such planning represents an erosion of Hong Kong’s autonomy or free-market principles. This view fundamentally misunderstands both the nature of modern governance and the opportunities presented by China’s rise. Experts said this move reflects a more-proactive approach to national integration, helping the city contribute to the country’s overall development while strengthening its own long-term growth. Strategic planning and market freedom are not opposing forces — they are complementary tools for achieving sustainable prosperity.
The path forward requires clear-eyed pragmatism. Contrary to speculation that Shanghai might overshadow Hong Kong, the two financial centers serve complementary roles in China’s national development strategy. Hong Kong’s institutional strengths — such as its adherence to common law, free capital flows, and globally recognized regulatory frameworks — remain robust. Hong Kong’s success lies not in competing with other mainland cities, but in deepening its irreplaceable role within the national ecosystem.
As Hong Kong embarks on this first five-year blueprint, we must approach the task with both ambition and humility. The opportunities ahead are immense, but they require coordinated action, long-term vision, and unwavering commitment to both national integration and local prosperity. This blueprint is not merely a planning document — it is a covenant to future generations, a promise that we will rise to meet the challenges of our time with wisdom and determination.
The author is the convenor at China Retold, a member of the Legislative Council, and a member of the Central Committee of the New People’s Party.
The views do not necessarily reflect those of China Daily.
