Hong Kong launches first five-year plan to strengthen economic centres and global competitiveness

Hong Kong’s Chief Executive, John Lee, introduced a comprehensive set of measures to develop the city’s key economic centres during the unveiling of the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (HKSAR) (2026-2030) and his fifth Policy Address on September 16, 2026.

The plan focuses on reinforcing Hong Kong’s four major centres, cultivating a hub for high-calibre talent, and consolidating the city’s competitive edge as a leading international metropolis.

Consolidating Hong Kong’s status as a global financial, maritime, trade, and aviation hub

Hong Kong’s reputation as a world-renowned international financial, maritime, and trade centre, alongside its role as an international aviation hub, forms the foundation for its high-quality development and long-term stability.

Chief Executive John Lee said, “We will consolidate and enhance Hong Kong’s status as an international financial centre, and stay committed to our global positioning. Hong Kong will deepen the development of its global offshore Renminbi business and capital market, develop an international asset and wealth management centre and international 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. The government plans to further develop a more attractive asset and wealth management ecosystem.

Developing a commodity trading ecosystem

Hong Kong aims to establish a commodity trading ecosystem with gold as a key entry point. Efforts will focus on developing the clearing system, storage, supply, and infrastructure related to gold trading. The city’s central clearing and settlement system for gold is scheduled to launch in the first quarter of 2027.

Secretary for Financial Services and the Treasury, Christopher Hui said, “The significance of the First Five-Year Plan for Hong Kong lies in a mindset shift; we must plan Hong Kong’s financial development with a longer-term vision and broader perspective to adapt with flexibility and diversity. Each of our initiatives centres around one objective, which is to elevate Hong Kong from a ‘corridor of capital’ to a ‘destination of choice’.”

Enhancing Hong Kong’s role as an international trade centre

Hong Kong ranked as the world’s fifth-largest entity in merchandise trade in 2025. The government announced plans to consolidate and enhance Hong Kong’s role 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 in October 2025, more than 340 Mainland enterprises have received help with listing, capital raising, meeting overseas standards, acquiring certifications, and ensuring compliance.

The Task Force will strengthen collaboration with professional organisations to train talent for the GoGlobal initiative and enhance professional services.

Algernon Yau, Secretary for Commerce and Economic Development, said, “In alignment with the National 15th Five-Year Plan’s call to advocate and practise true multilateralism, the First Five-Year Plan proposes to continue expanding international economic and trade networks.”

“We will actively forge free trade agreements and investment agreements with economies of development potential or strategic locations. Meanwhile, we will expand our network of overseas offices and leverage the combined networks of our overseas Economic and Trade Offices, InvestHK, and the Hong Kong Trade Development Council offices globally to deepen overseas ties and step up trade and investment promotion.”

Advancing Hong Kong as a global maritime capital

Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The Five-Year Plan aims to transform the Hong Kong Port from “volume to value,” focusing on high value-added maritime services to develop Hong Kong into a “Global Maritime Capital.”

To promote high value-added services, the industry will develop “Finance + Shipping,” leveraging Hong Kong’s established maritime finance, insurance, and arbitration under common law.

The city will 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.

Strengthening Hong Kong’s aviation hub status

Hong Kong’s passenger throughput increased by 15% year-on-year in 2025, reaching 61 million passengers, with flights to over 220 destinations. The city’s air cargo throughput reached 5.07 million tonnes, maintaining its position as the world’s busiest cargo airport for the 15th consecutive year.

The plan includes expanding the aviation network and diversifying business opportunities. The government will continue its initiatives to visit South America, Africa, Central Asia, the Middle East, and the Caucasus to expedite new air service agreements and expand traffic rights, thereby supporting the exploration of new passenger and cargo sources.

Leading innovation and technology development

The government aims to increase the ratio of Total Domestic Expenditure on Innovation Activities to Gross Domestic Product to 3% after 2030.

The HKSAR Government will intensify efforts to promote artificial intelligence (AI) applications across various industries while balancing innovation with security to enhance Hong Kong’s international competitiveness in AI development.

Aligned with national strategic technology priorities, Hong Kong will focus on core areas such as life and health sciences, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials.