HONG KONG CONNECT



	The Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr John Lee, announced the First Five-Year Plan for Economic and Social Development of the HKSAR (2026-2030) (First Five-Year Plan) and 2026 Policy Address on September 16. The First Five-Year Plan is a forward-looking, strategic and directional guiding document for Hong Kong, a blueprint for the city's economic and social development over the next five years. Meanwhile, the 2026 Policy Address entitled "A Strategic Vision for a Bright New Era, Driving Reform and Boosting Development, Unleashing Opportunities and Enhancing Livelihood" put forward a series of measures to create development opportunities and enhance the well-being of the people. The two documents are interconnected and inextricably related. The following are the key points covered by the First Five-Year Plan and 2026 Policy Address:


	First Five-Year Plan: Open up new horizons and unfold a new chapter Formulated in the opening year of the National 15th Five-Year Plan, Hong Kong's inaugural Five-Year Plan is a major initiative to proactively align with national development strategies and better integrate into and serve the overall national development. Under the six themes of the Five-Year Plan laid out below, Hong Kong will strive to become a more open, inclusive, liberal, prosperous and safer city. Strengthen the four centres, develop the hub for high-calibre talent Hong Kong will continue to consolidate and enhance “four centres and one hub” -- international financial centre; internation trade centre; international maritime centre and aviation hub; international innovation and technology (I&T) centre; as well as an international hub for high-calibre talent, attracting global capital, talent and financial enterprises. Hong Kong will strengthen its roles as a global offshore Renminbi business hub and an international asset and wealth management centre; drive a “volume to value” transformation of the Hong Kong Port; develop an aviation industry ecosystem with a global edge; and expand its international economic and trade network and develop a high value-added supply chain services centre. We will also press full steam ahead with the new “three major I&T parks and five key research and development institutions” paradigm, promote new industrialisation, and develop and strengthen emerging industries. We will promote the integrated development of education, technology and talent, and establish the “Study in Hong Kong” brand to attract and retain non-local talent. Click here to learn more. Leverage our advantages as an international city and comprehensively strengthen our global competitiveness Hong Kong will continue to leverage its advantages as an international city by deepening the development of international legal and dispute resolution services, regional intellectual property trading, and international cultural exchange, reinforcing the integrated development of industries and further sharpening its edge amid global competition. Click here to learn more. Deepen the development of the Guangdong-Hong Kong-Macao Greater Bay Area and create an international collaboration network Hong Kong will deepen its participation in the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) by promoting “hard connectivity” of infrastructure, fostering “soft connectivity” through the alignment of rules and mechanisms, and advancing “connectivity of hearts” among residents. At the same time, we will deepen international co-operation and exchanges and participate in high-quality co-operation under the Belt and Road Initiative, so as to create an international collaboration network. Click here to learn more. Expedite the development of the Northern Metropolis, spearhead spatial layout optimisation The Northern Metropolis (NM) is a new engine for Hong Kong to develop new quality productive forces and a main platform to deeply participate in the development of the GBA. The NM will be developed through an approach that is planning-oriented, infrastructure-led, industry-driven and people-oriented, with the NM University Town, I&T, industry, and an environment suitable for living, work and travel as the development objectives. Click here to learn more. Enhance social well-being and refine the social protection framework We will adhere to the people-oriented approach, focus on the livelihood issues of public concern, and enable the public to share the benefits brought by economic growth and national development. Click here to learn more. Adopt a holistic approach to development and security, enhance public governance efficacy We will uphold a reform-oriented mindset and adopt a holistic approach to development and security, so as to elevate governance efficacy and safeguard Hong Kong’s long-term prosperity. Click here to learn more.


	For a comprehensive overview of First Five-Year Plan and additional resources, please find the full document, highlights, and relevant press releases at the hyperlinks.


	2026 Policy Address: A Strategic Vision for a Bright New Era, Driving Reform and Boosting Development, Unleashing Opportunities and Enhancing Livelihood

	The 2026 Policy Address proposes numerous key measures focusing on five major development opportunities, namely talent development, industry development, business investment, institutional safeguards and international co-operation. The following are some of the major initiatives:

	Four centres and one hub International financial centre: Hong Kong will consolidate its leading position in the stock market, deepen its presence in areas with growth potential such as bonds, specialty insurance and Renminbi (RMB) business, and proactively lay out forward plans for emerging sectors such as tokenised products. Measures include enhancing the Currency Swap Agreement with the People’s Bank of China, strengthening the connectivity between the Central Moneymarkets Unit and overseas markets, conducting tests on the tokenisation of Exchange Fund Bills, facilitating the listing of quality overseas enterprises in Hong Kong, and developing specialty insurance to meet the needs of emerging industries. We will implement a half-rate tax concession for physical commodity trading and explore tax concessions for qualifying activities within the gold and commodity trading ecosystem. The Government will announce details of new RMB-denominated and physically settled gold futures contracts, explore increasing the Exchange Fund’s gold holdings and gradually transferring physical gold holdings to designated vaults, and establish a Joint Working Group on Commodity Trading to identify market opportunities and prospects for cross-exchange collaboration. International maritime centre and aviation hub: Hong Kong will further shift its development focus from traditional port logistics to leveraging its advantages in high value-added maritime services, including ship management, ship leasing, ship finance, marine insurance, and maritime law and arbitration. Measures include developing a Hong Kong-centric “Green Energy Corridor” in collaboration with a Mainland city, establishing a carbon-emission calculation framework for green maritime fuels, expanding underwriting capacity for marine specialty risks, supporting onshore power-supply facilities, and promoting the establishment of a maritime academy in Hong Kong. We will support Hong Kong’s development as an international aviation hub and foster the sustainable aviation fuel (SAF) industry, including spearheading the establishment of a world-leading SAF production base in Dongguan and a mandatory consumption-ratio mechanism, and the development of a green energy certification system. International trade centre: We will deepen the work of the Task Force on Supporting Mainland Enterprises in Going Global, including collaboration with Hong Kong and Mainland trade associations and introducing ESG services. We plan to provide additional tax benefits and flexibilities for pre-approved Corporate Treasury Centres. A Task Force on High Quality Development of Textile and Fashion Industry will also be established to pursue the industry’s high-quality development. International innovation and technology centre: We will promote AI awareness and deepen AI application and development across various sectors, support AI upgrading for small and medium-sized enterprises (SMEs), and appoint a Commissioner for AI to drive AI developments. The United Nations Industrial Development Organisation will establish its first centre of excellence on global advanced manufacturing in the Asia-Pacific region in Hong Kong, focusing on AI+ manufacturing, robotics, new energy and industrial design. We will also promote the low-altitude economy and frontier technologies, including AI, new energy, new materials, aerospace and quantum technology. International education hub: We will extend the pilot arrangement for graduates from the GBA campuses of Hong Kong universities to remain in or come to Hong Kong for employment, increase student hostel supply, and allocate sites in the NM or other areas for international schools to meet society’s demand and support talent development.

	Northern Metropolis We will develop three university towns in San Tin, Hung Shui Kiu and Ta Kwu Ling, based on the concept of “One Town, Five Elements”, driving the simultaneous development of education, technology and industry. We will increase University Grants Committee-funded research postgraduate places by around 30% to 9,600 by the 2030/31 academic year, gradually increase the annual quota of the PhD Fellowship Scheme from 400 to 550 places, and provide additional funding to support knowledge transfer. We will advance the commencement of all nine New Development Areas in the NM and continue to streamline planning and approval procedures. An amendment bill will be introduced, providing preferential tax rates of 5% or half-rate for selected enterprises operating in key sectors such as finance, advanced manufacturing, I&T, R&D, headquarters activities, and logistics and supply chain management.

	Hong Kong's international advantages We will deepen the development of international legal and dispute resolution services, develop a regional intellectual property trading centre and strengthen Hong Kong’s patent examination capacity, and develop an East-meets-West centre for international cultural exchange. Measures include supporting international legal and mediation institutions in establishing a presence in Hong Kong, launching the Hong Kong Intellectual Property Academy, and opening the WestK Performing Arts Centre next year.

	Overall national development We will deepen the development of the GBA and regional co-operation with the Mainland, including setting up a task force to expedite the alignment of rules and mechanisms. We will also deepen international exchange and co-operation, including hosting international events such as the Asia-Pacific Economic Co-operation Finance Ministers' Meeting this October, and pursue co-operation under the Belt and Road Initiative, including launching the Green Technology Bridgehead Programme and increasing the annual quota for the Belt and Road Scholarship.

	Livelihood and well-being of people The Policy Address introduces multiple measures across 25 areas, including youth employment, education, promoting fertility, housing, healthcare, community services, elderly care, and labour protection, to enhance the well-being of the public. We will launch 10 measures to support SMEs, including funding SMEs to tap into more emerging markets, providing more support and subsidies for AI applications, supporting SMEs in expanding e-commerce markets outside Hong Kong and brand development, and accelerating trade-financing, etc.



	For a comprehensive overview of the Chief Executive’s 2026 Policy Address and additional resources, please find the full document, supplement, highlights leaflets and relevant press releases at the hyperlinks.