Chief Executive John Lee Ka-chiu said on Saturday that Hong Kong’s first Five-Year Plan for Economic and Social Development (2026-30), which was ironed out by his team, took reference from the experiences of the nation’s 15th Five-Year Plan (2026-30), factoring in the special administrative region’s actual situation to make sure the policies are of local characteristics that can be applied to the city.
He made the remarks on a radio program on Saturday morning after unveiling the much-awaited five-year development blueprint on Wednesday, bringing forward 105 targets for the SAR’s social and economic development in the next five years.
Among the targets are almost doubling the innovation spending to three percent of the local gross domestic product and cutting the waiting time for public housing to four years by around 2030.
Lee said the number of key targets, which is 22, is similar to that of the nation’s 15th five-year plan.
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Stressing that the SAR government is determined to fulfill all the goals, he said it’ll be done through the annual Policy Address. For instance, this year’s Policy Address mapped out 284 targets, and Hong Kong still needs to accumulate experience in implementing its five-year plan, he said.
The inaugural five-year plan is to proactively align the SAR’s development with the nation’s 15th five-year plan, with the aim of reinforcing the city’s established advantages and shoring up shortcomings amid a complex and ever-changing global economy, Lee stressed.
The ultimate goal, he said, is to improve residents’ well-being, while the development blueprint enables mainland compatriots and international investors to see it.
