Hong Kong is set to enter a new phase of long-term economic and social planning as Chief Executive John Lee Ka-chiu prepares to unveil the city’s first five-year plan on September 16.
The five-year blueprint, covering the period from 2026 to 2030, is being presented alongside Lee’s annual Policy Address. It is designed to establish longer-term development goals while maintaining Hong Kong’s existing market-based economic system.
Lee has stressed that the plan should not be viewed as a move towards a planned economy. Instead, it will combine targets that are binding on the government with broader goals that require cooperation from businesses, organisations and the wider community.
According to Lee, some indicators will require direct government action, while others will depend on different sectors working together to achieve the desired outcomes. The government is expected to coordinate resources and develop policies to support the plan’s objectives.
The blueprint is also intended to align Hong Kong’s development more closely with national strategies while maintaining the city’s role as an international financial and business centre.
Key areas are expected to include economic development, innovation and technology, infrastructure, housing, talent, public welfare and closer integration with mainland China. Long-term planning is intended to provide greater continuity beyond the annual policy cycle.
The introduction of the plan marks a significant change in the way Hong Kong sets out its development priorities. Unlike the mainland’s national five-year planning system, Lee has emphasised that Hong Kong’s framework will establish goals and coordinate government efforts rather than centrally direct economic activity.
The plan comes as Hong Kong seeks to strengthen its position as an international financial centre while developing emerging sectors and expanding cooperation with mainland cities in the Greater Bay Area.
Lee’s announcement also follows a period in which the government has placed greater emphasis on long-term planning, including major projects such as the Northern Metropolis and initiatives aimed at strengthening innovation and technology.
The first five-year plan will provide a framework for the government’s economic and social priorities through 2030, with progress expected to be assessed against the targets and indicators set out in the document.
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