To proactively align with the nation's 15th Five-Year Plan, Hong Kong will formulate its first-ever five-year development plan within the year, according to Chief Executive John Lee Ka-chiu.
Lee's announcement came hours after the annual National People's Congress concluded in Beijing, where the 15th Five-Year Plan outline was approved.
In a social media post, Lee expressed gratitude for the central government's support in helping Hong Kong consolidate and enhance its competitive advantages to integrate into the national development framework.
Highlighting the 15th Five-Year Plan's measures to bolster the city's long-term prosperity and deepen Greater Bay Area development, Lee affirmed that he will lead the HKSAR government to fulfill its role.
He noted that the preparatory groups formed under his instruction have now transitioned into the formulation teams, which will work diligently to complete the Hong Kong five-year plan within this year. Lee will personally oversee the drafting process, spearheaded by the Constitutional and Mainland Affairs Bureau, with full participation from various bureau heads.
Describing the upcoming plan as "macroscopic, strategic, and forward-looking," Lee stated that it will serve as a collective action blueprint for Hong Kong, outlining development visions, core objectives, key areas, and major initiatives for the next five years.
He highlighted the importance of leveraging the country's global leadership in innovation, artificial intelligence, big data, and infrastructure to achieve transformative growth in emerging industries by integrating with the national industrial ecosystem.
Additionally, he revealed that the government will accelerate the development of the Northern Metropolis, facilitating Hong Kong's integration into China's "AI+" action plan, which aims to empower the city's traditional advantageous industries.
With the 15th Five-Year Plan uniquely supporting the establishment of a commodity trading ecosystem and high-value-added supply-chain service centre in Hong Kong, as well as an international hub for high-calibre talents, Lee asserted the government's commitment to transform the city into a new engine for economic growth.
