Hong Kong's Chief Executive, John Lee, took to the airwaves on September 18 to discuss the city's first-ever Five-Year Plan for Economic and Social Development (2026-2030) and his fifth Policy Address, both announced on September 16. The plan outlines five main objectives: better livelihoods for all; breakthroughs in economic development; expanding global competitiveness and influence; faster development of the Northern Metropolis; and better serving the country. The initiative represents a significant shift in Hong Kong's strategic direction, aiming to solidify its role as an international hub while integrating further with national development goals.
Central to the plan is the expansion of Hong Kong's global competitiveness. Lee emphasized the importance of Hong Kong's international status, stating, “The strength of Hong Kong is its international status, and we have been emphasising on how we ensure the internationalism or the 'internationalness' of Hong Kong. We are expanding to cover every part of the world where we can reach.” He highlighted the government's extensive network of Economic and Trade Offices, Invest Hong Kong, and Hong Kong Trade Development Council offices worldwide. Since taking office, Lee has led delegations to ASEAN Member States, the Middle East, and Central Asia, with colleagues frequently visiting African nations such as South Africa and Kenya. These efforts aim to deepen economic ties and diversify markets, which could open new opportunities for Hong Kong businesses and investors.
Lee also underscored Hong Kong's growing role in international organizations. He noted the establishment of the International Organization for Mediation (IOMed) headquarters in Hong Kong, an entity with United Nations status, and announced plans for an international office under the global network of corruption prevention authorities. “Hong Kong is an international city, which not just is very good at doing business, but is exercising its responsibility as a global participator, and also, we really can contribute,” he said. This positioning could enhance Hong Kong's influence in global governance and attract further international events and institutions.
The Northern Metropolis (NM) project, a major focus of the plan, is slated to accelerate development. Lee described the NM as representing about one third of Hong Kong's geographical area, offering opportunities for upgrading accommodation and development. Beyond traditional sectors like finance, shipping, and trade, the NM will provide space for diversifying industries, creating jobs, and aligning with national development. Notably, the NM is mentioned in China's 15th Five-Year Plan, elevating it to a state-driven project. “With the elevation of position, we will have to work hard. And I am sure that the Central Government will also help us to ensure that this will be a success story,” Lee said. This integration could spur infrastructure investment, housing, and innovation, potentially benefiting residents and businesses alike.
On artificial intelligence, Lee stressed balancing opportunities and risks. He announced the creation of a Commissioner for AI to set policy, coordinate resources, issue guidelines, and develop AI for the whole government. “While we develop and ensure people understand and use it, we also need to tell everybody the potential risks that it will bring,” he said. This move signals Hong Kong's intent to lead in AI governance and application, which could impact tech industries and public safety.
For more information on Hong Kong's initiatives, visit Brand Hong Kong.
