Hong Kong Unveils First Five-Year Plan to Secure Long-Term Development of Pillar Industries

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 (HKSAR) (2026-2030) alongside his fifth Policy Address, outlining a strategic roadmap to reinforce the city's economic pillars and secure its long-term competitiveness. The plan focuses on strengthening Hong Kong's four traditional centres—finance, trade, maritime, and aviation—while developing it as a hub for high-calibre talent and enhancing its status as an international city.

Under the plan, Hong Kong will deepen its role as an international financial centre by expanding offshore Renminbi business, capital markets, and asset and wealth management. The city has already become the world's largest cross-boundary wealth management centre this year, and the government aims to build a more attractive ecosystem for asset and wealth management. 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. Christopher Hui, Secretary for Financial Services and the Treasury, emphasized that the plan represents a mindset shift: "Each of our initiatives centres around one objective, which is to elevate Hong Kong from a 'corridor of capital' to a 'destination of choice'."

In trade, Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025. The government will consolidate its status as an international trade centre and play a greater role in the high-level opening up of the Chinese Mainland. The Task Force on Supporting Mainland Enterprises in Going Global, established last October, has already assisted over 340 Mainland enterprises with listing, capital raising, and compliance. Algernon Yau, Secretary for Commerce and Economic Development, said the plan proposes expanding international economic and trade networks by forging free trade agreements with economies of strategic potential and expanding overseas offices.

As an international maritime centre, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The plan aims to drive a "volume to value" transformation of the Hong Kong Port, developing it into a "Global Maritime Capital" by promoting high value-added services such as "Finance + Shipping". Leveraging its common law system, Hong Kong will build an integrated ecosystem where enterprises adopt Hong Kong law, take out Hong Kong insurance, and choose arbitration in Hong Kong.

In aviation, Hong Kong's passenger throughput increased 15% year-on-year to 61 million in 2025, with flights to over 220 destinations. Its air cargo throughput reached 5.07 million tonnes, making its airport the world's busiest cargo airport for the 15th year since 2010. The government will expand the aviation network and diversify business opportunities by visiting South America, Africa, Central Asia, the Middle East, and the Caucasus to conclude new air services agreements.

For innovation and technology, Hong Kong will promote artificial intelligence applications across trades, balancing innovation with security. It will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials, aiming to raise 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 long-term stability and prosperity, aligning with national strategies while enhancing its global competitiveness. For more information, visit Brand Hong Kong.