Hong Kong to formulate first 5-year plan to align with national blueprint

A new task force led by Chief Executive John Lee Ka-chiu will formulate Hong Kong’s first five-year blueprint to align with China’s 15th five-year plan, with a political analyst saying the move signals greater government involvement in shaping the city’s development. Lee also said on Monday that he would prioritise visits to Eastern Europe and Central Asia to explore new markets for local businesses, stressing the need to “avoid putting all eggs in one basket” and mitigate risk amid geopolitical tensions. In an interview with the media, the city leader said that he would lead an interdepartmental task force to align Hong Kong’s policies with the nation’s 15th five-year plan, which would guide China’s development from 2026 to 2030. For the first time, Hong Kong would devise its own five-year plan alongside detailed policy frameworks for key areas of development, he added. The national plan, unveiled last October, pledged to support Hong Kong in becoming a high-end talent hub and consolidate and enhance the city’s status as an international financial, shipping and trade hub. It also emphasised stronger cooperation between Hong Kong and the mainland in areas such as the economy, trade, science and technology, and culture. Lau Siu-kai, a consultant for the semi-official Chinese Association of Hong Kong and Macau Studies think tank, said the initiative marked a more proactive approach in integrating Hong Kong into national development. “If we do not have our own five-year plan, how can we align with the nation’s five-year plan and development strategy? Without our own development strategy, we cannot connect with the national strategy,” he said. Lau noted that the plan represented a shift away from positive non-interventionism towards greater government involvement in economic development, but said it would not resemble a “planned economy”, given authorities’ limited market resources and tools compared with Beijing. While Macau has implemented its own five-year plan since 2016, Hong Kong was falling behind and had to catch up with its neighbour, he added. According to Lau, Hong Kong’s first five-year plan needed to be a strategic, long-term document that leveraged the city’s international connections to support national development. “We need to consider what the central government expects, as well as Hong Kong’s own strengths, and take the initiative to propose development projects,” Lau said. “It cannot simply be a passive response to the 15th five-year plan.” On Lee’s intention to explore new markets, Lau said European countries were seeking to mend ties with China amid a widening rift with the United States, creating opportunities for Hong Kong to engage with Eastern European nations.