Chief executive outlines aim to build more open, inclusive, liberal, wealthy and safer city

The Hong Kong Special Administrative Region unveiled its first five-year plan for economic and social development on Sept 16, outlining 105 indicators covering areas such as economic development, housing, global competitiveness and people’s livelihoods, in order to align with the national 15th Five-Year Plan (2026-30).

John Lee Ka-chiu, chief executive of the HKSAR, said the plan will shed light on Hong Kong’s directions of development, optimize resource allocation, enhance social expectation certainty, and better protect social well-being as well as the interests of investors across the world, helping to build a more open, inclusive, liberal, prosperous and safer Hong Kong.

“We will build HKSAR into a bridge and gateway between our country and the rest of the world, and a more attractive, vibrant and opportunity-rich world city, while continuing to make unique and greater contributions to building a strong country and achieving national rejuvenation through the advancement of Chinese modernization,” Lee said.

“In five years, I believe all residents will see greater income and career progress, more diversified industries, better education, and a Hong Kong that is more international and tech-empowered,” Lee told reporters at a news conference on Sept 16.

The road map outlines Hong Kong’s development direction in seven parts and 28 chapters, covering targets such as accelerating development of the Northern Metropolis and deepening Guangdong-Hong Kong-Macao Greater Bay Area integration.

Lee also identified seven underlying principles of the city’s first five-year plan.

The principles are adhering to the “one country, two systems” principle; remaining committed to a livelihood-oriented approach; upholding an executive-led system; embracing reform and innovation; upholding the two-pronged approach of “effective market” and “capable government”; adopting a holistic approach to development and security; and planning in a pragmatic and proactive manner.

Among the listed 105 indicators is the target of elevating the ratio of total domestic expenditure on innovation activities to GDP from 1.63 percent in 2024 to 3 percent after 2030.

By 2030-31, the SAR government aims to reduce the waiting time for public rental housing to less than four years by building a total of 196,000 public housing units.

Lee also delivered his fifth and final policy address of his current term, which ends next June, rolling out concrete measures to develop the economy, enhance the city’s competitiveness, attract talent, improve people’s livelihoods and encourage childbearing.

A spokesperson for the Hong Kong and Macao Affairs Office of the State Council called the five-year plan the HKSAR’s first holistic top-level design for its economic and social development.

The plan adheres to the principle of “one country” while leveraging the benefits of “two systems”, fully aligning with the nation’s 15th Five-Year Plan, the office said.

It added that the unveiling of the plan once again highlights a new era of “patriots administering Hong Kong” and the unified commitment of the entire society to build a better home together.

A spokesperson for the Liaison Office of the Central People’s Government in the HKSAR said the plan is a good plan that aligns with the national plan and envisions Hong Kong’s future; a good plan that demonstrates strategic planning and forward-looking design; and a good plan that reflects mainstream public opinion and embodies a scientific, democratic approach.

Sunny Tan, chairman of the Hong Kong Productivity Council, said the plan will boost the city’s international competitiveness, pledging to align with it to drive traditional industry upgrades and power emerging sectors.

Ryan Ip Man-ki, vice-president of the think tank Our Hong Kong Foundation, noted that the plan marks the first comprehensive framework integrating the Northern Metropolis’ land, industry, transport, housing and university plans, with clear-phased targets to boost market and public confidence.

Contact the writers at stacyshi@chinadailyhk.com