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) alongside his fifth Policy Address on September 16, setting out a comprehensive strategy to reinforce the city's economic foundations and secure its long-term competitiveness. The plan marks a significant shift in governance approach, emphasizing longer-term vision and broader perspective as Hong Kong navigates an increasingly complex global landscape.
At the heart of the plan is the consolidation and enhancement of Hong Kong's four traditional centres: international finance, trade, maritime, and aviation. These sectors underpin the city's high-quality development and provide a firm foundation for stability and prosperity, according to government statements. The strategy aims to elevate Hong Kong from a "corridor of capital" to a "destination of choice," as articulated by Christopher Hui, Secretary for Financial Services and the Treasury. "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," Hui said.
In finance, Hong Kong will deepen its global offshore Renminbi business and capital market, develop an international asset and wealth management centre, and expand fixed income and commodity trading. The city has already become the world's largest cross-boundary wealth management centre this year. A key initiative is the development of a commodity trading ecosystem anchored by gold, with a central clearing and settlement system for gold scheduled to launch in the first quarter of 2027. This infrastructure aims to position Hong Kong as a hub for gold trading in Asia.
As an international trade centre, Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025. The government plans to 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, emphasized expanding international economic and trade networks: "We will actively forge free trade agreements and investment agreements with economies that are of development potential or strategic locations." This includes leveraging overseas Economic and Trade Offices and the Hong Kong Trade Development Council's global network.
In maritime, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The plan seeks to transform the Hong Kong Port from "volume to value" by capitalizing on high value-added maritime services. A key focus is developing "Finance + Shipping," building an integrated ecosystem where Hong Kong-invested enterprises adopt Hong Kong law, take out Hong Kong insurance, and choose arbitration seated in Hong Kong. This leverages the city's common law framework and established maritime finance and insurance sectors.
For aviation, Hong Kong's passenger throughput rose 15% year-on-year to 61 million last year, 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 international aviation hub status, the government will expand aviation networks and diversify business opportunities, including visits to South America, Africa, Central Asia, the Middle East, and the Caucasus to conclude new air services agreements.
Beyond the four centres, Hong Kong aims to become an international innovation and technology centre, promoting artificial intelligence applications across trades while balancing innovation and security. The government will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing, and new materials. It also targets raising the ratio of Total Domestic Expenditure on Innovation Activities to GDP to 3% after 2030.
The First Five-Year Plan represents a proactive approach to economic planning, aiming to secure Hong Kong's position as a global city amid shifting geopolitical and economic dynamics. For more information, visit Brand Hong Kong.
