Hong Kong unveils first Five-Year Plan and new Policy Address

Hong Kong Chief Executive John Lee has unveiled the city’s first Five-Year Plan for Economic and Social Development (2026–2030) alongside his fifth Policy Address. The strategic roadmap includes 105 key indicators aimed at strengthening Hong Kong’s status as an international hub for finance, shipping, trade, and innovation and technology.

Economic initiatives focus on upgrading the city’s functional role, transitioning from a mere transit point for capital to a provider of high-value services such as risk management, wealth management, and commodity trading. A central clearing and settlement system for gold is scheduled to launch in the first quarter of 2027. Additionally, the plan emphasizes the development of the Northern Metropolis to integrate research, talent, and industry.

The Policy Address introduces significant social and livelihood measures, including 11 new initiatives to encourage childbirth, such as increased child allowances and improved medical support. Housing reforms include a new ‘433’ supply framework—aiming for 40% public rental, 30% subsidized sale, and 30% private housing—and a goal to reduce public housing waiting times to under four years by 2030/31. Other measures target elderly care, youth employment, and support for small and medium-sized enterprises.