The national 15th Five-Year Plan (2026-30) is both a guiding star and a great opportunity for Hong Kong. The central authorities’ description of Hong Kong’s dual mission to develop itself and contribute to national development has shifted from “actively integrating into” and “proactively aligning with” to “serving the broader national interest”. This evolution highlights the Hong Kong Special Administrative Region’s growing importance in national development as well as its increasingly close ties with the Chinese mainland.

Judging from the 15th Five-Year Plan, the relationship between the mainland and Hong Kong will shift from mere “one-way support” to “two-way empowerment” with the SAR transitioning from an active participant in national development to a strategic planner for national development.

Aligning with the new blueprint is an urgent task. The SAR’s governing team and all sectors of society must contribute their wisdom and strength to formulating the SAR’s first five-year plan.

The Hong Kong-related content in the 15th Five-Year Plan is more systematic and forward-looking than ever, which is primarily reflected in two aspects.

First, the functions of the city’s traditional four major centers have been endowed with new connotations. While supporting Hong Kong in consolidating its status as an international financial, shipping, and trade center, as well as an aviation hub, the plan places greater emphasis on strengthening the city’s functions as a global offshore renminbi business hub, an international asset and wealth management center, and an international risk management center. This suggests that competition in the financial sector is no longer limited to stock market fundraising but expands to higher-dimensional institutional competition in areas such as renminbi internationalization, wealth management, and financial security.

Strengthening Hong Kong’s function as a global offshore RMB business hub will help enhance its financial strengths, align with the broader strategy of RMB internationalization, and support the country’s effort to develop into a financial powerhouse. Strengthening the city’s function as an international asset and wealth management center is to fully leverage the city’s dual advantages in capital appreciation and risk aversion, generating new momentum for its growth. Strengthening the city’s role as an international risk management center will put to full use the city’s unique edge as a common law jurisdiction that is familiar with international trade rules, helping to facilitate the country’s high-standard opening-up.

The twin engines of “AI+” and “Finance+”, advancing together, can not only drive Hong Kong’s high-quality development but also boost the country’s development momentum

Second, a new growth pole has been incorporated into the national plan for the first time. The blueprint explicitly supports Hong Kong in building a commodity trading ecosystem and a high-value-added supply chain services center. This new positioning demonstrates considerable strategic foresight. Leveraging the London Metal Exchange under the Hong Kong Exchanges and Clearing Ltd, Hong Kong is well-positioned to develop spot warehousing for and trading of non-ferrous metals. This extends financial services into the realm of physical logistics, thereby addressing the country’s shortcomings in commodity pricing power.

Meanwhile, high-value-added supply chain services — encompassing soft power areas such as testing and certification, patent licensing, and high-end logistics — represent a perfect convergence where Hong Kong’s strengths meet the country’s needs.

For a long time, the mindset of Hong Kong’s governing elite has often been constrained by path dependence and accustomed to following instructions step by step within established frameworks. The shift in positioning means that Hong Kong society must undergo a triple transformation in its thinking.

First, Hong Kong must embrace long-termism and a national perspective when making its development plan. In the past, Hong Kong lacked long-term development planning. Now, for the first time, the city is actively aligning itself with the new national development planning cycle. This requires Hong Kong to embrace a long-term perspective, and to measure its position within the Guangdong-Hong Kong-Macao Greater Bay Area and the broader national economic landscape from a national perspective, thereby ensuring that its industrial policies fit in the layout of the country’s productive forces.

Second, Hong Kong must sharply detect and latch onto changes. Hong Kong society should fully understand that the 15th Five-Year Plan is formulated in response to the major trends in global technological and economic transformation. Hong Kong’s way of thinking must align with that of the nation to achieve cognitive alignment before moving on to alignment in specific areas.

Third, Hong Kong must be prepared to innovate to tackle challenges. In aligning with the 15th Five-Year Plan, Hong Kong must break free from entrenched mindsets and old routines. For example, beyond its traditional financial strengths, driving leapfrog development in green finance and the digital economy requires disruptive cognitive change.

To grasp the 15th Five-Year Plan, both Hong Kong and Macao should look beyond the specific chapter related to the two SARs to see a broad picture of national priorities and reflect on the SARs’ own advantages. Only through such a comprehensive approach can the SARs’ driving forces for development be clearly identified.

From a national perspective, Hong Kong must drive industrial transformation through “AI+”. The blueprint dedicates a specific section to the topic of elevating the level of digital and intelligent development for the first time, calling for the full implementation of the “AI+” initiative and the strengthening of infrastructure in computing power, algorithms and data. This signifies that artificial intelligence is not merely a technological application but a catalyst for profound changes in production methods and a revolutionary leap in productivity. Hong Kong should treat AI as a crucial interface for aligning with the 15th Five-Year Plan, empowering all industries and driving industrial transformation in its own five-year plan.

From Hong Kong’s perspective, the city must empower the economy through “Finance+”. The considerable attention given to Hong Kong’s financial sector in the blueprint underscores its vital position in the national landscape.

Hong Kong should leverage its strengths and use “Finance+” to empower the economy, helping the country expand value in three major areas. Hong Kong can help expand the value of innovative industries by providing full-cycle financing support for mainland hard-tech enterprises, from startup to maturity. It can enhance the global premium of “Made in China” by packaging the mainland’s competitive industries — such as new energy, photovoltaics and electric vehicles — into green bonds sellable to international investors. It can also boost the country’s say in global resource distribution and promote the RMB’s upgrade from a cross-border trade settlement currency to a commodity pricing currency.

The twin engines of “AI+” and “Finance+”, advancing together, can not only drive Hong Kong’s high-quality development but also boost the country’s development momentum.

The author is vice-chairman of the Committee on Liaison with Hong Kong, Macao, Taiwan and Overseas Chinese of the National Committee of the Chinese People’s Political Consultative Conference, and chairman of the Hong Kong New Era Development Thinktank.

The views do not necessarily reflect those of China Daily.