Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong’s development blueprint has been drawn, and it must be implemented step by step with greater confidence and perseverance, following the launch of Hong Kong’s First Five-Year Plan.
In his blog, Chan said that it is the first time the city has set a five-year commitment, mapping out directions, goals, targets, and timelines. This framework serves as the city’s development blueprint for the next five years.
He said that the Policy Address serves as an annual action agenda for carrying out the blueprint, allowing for flexible adjustments based on the latest domestic and international conditions.
The Policy Address is closely aligned and interconnected with the Five-Year Plan. The significance of the plan lies not just in the document itself, but in adopting a forward-looking perspective, viewing the present through the future, translating the vision into measurable indicators and action plans that can be reviewed year by year, Chan added.
He also pointed out that as the international environment becomes more unstable, the market needs more certainty across the years.
The government sets the direction, invests in infrastructure, and innovates systems, while the market allocates resources and injects vitality. By bringing the two together, enterprises can see where things are heading five years ahead. This will help make good use of the synergy of a “capable government” and an “efficient market”.
Chan further noted that in the nearly three decades since Hong Kong’s handover, the city has experienced ups and downs, seizing opportunities and overcoming challenges, which required long-term strategic vision and sustained effort.
He added that Hong Kong’s first Chief Executive Tung Chee-hwa demonstrated remarkable foresight by proposing development directions of long-term strategic value, which had been validated over time.
