Hong Kong's Chief Executive John Lee unveiled the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and his fifth Policy Address on September 16, setting out initiatives to secure the long-term development of the city's pillar industries. The plan focuses on strengthening the four centres—international financial, maritime, trade and aviation—while developing a hub for high-calibre talent and consolidating Hong Kong's competitive edge as an international city.
Under the plan, Hong Kong will deepen its global offshore Renminbi business and capital market, develop an international asset and wealth management centre and an international risk management centre, enhance the securities market, and expand fixed income and commodity trading. The city has become the world's largest cross-boundary wealth management centre this year, and the government will continue to develop a more attractive asset and wealth management ecosystem, Lee said. A commodity trading ecosystem with gold as an entry point will be developed, and the central clearing and settlement system for gold will launch in the first quarter of 2027.
Christopher Hui, Secretary for Financial Services and the Treasury, said the significance of the First Five-Year Plan 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," he said. "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 plans to consolidate and enhance its status 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 last October, it has assisted more than 340 Mainland enterprises with listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements. The task force will strengthen collaboration with professional organisations to train talent and enhance professional services.
Algernon Yau, Secretary for Commerce and Economic Development, said the plan proposes to continue expanding the international economic and trade network in alignment with the National 15th Five-Year Plan's call to advocate true multilateralism. "We will actively forge free trade agreements and investment agreements with economies that are of development potential or strategic locations," he said. "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."
As an international maritime centre, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The plan will drive a "volume to value" transformation of the Hong Kong Port, capitalising on high value-added maritime services to develop Hong Kong into a "Global Maritime Capital". The industry will develop "Finance + Shipping", building an integrated ecosystem under which Hong Kong-invested enterprises adopt Hong Kong law, take out Hong Kong insurance and choose arbitration seated in Hong Kong.
In aviation, Hong Kong's passenger throughput rose 15% year-on-year last year to 61 million, with flights to over 220 destinations. Air cargo throughput reached 5.07 million tonnes, making its airport the world's busiest cargo airport for the 15th year since 2010. To strengthen its position as an international aviation hub, Hong Kong will expand its aviation network and diversify business opportunities, visiting South America, Africa, Central Asia, the Middle East and the Caucasus to expedite new air services agreements and expand traffic rights.
For innovation and technology, the government will promote artificial intelligence applications across trades while balancing innovation and security. Hong Kong will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing and new materials, and aims to raise the ratio of Total Domestic Expenditure on Innovation Activities to GDP to 3% after 2030.
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