The Hong Kong Special Administrative Region must understand the macro-planning of the country’s 15th Five-Year Plan (2026-30), and through better integration, the SAR will be able to unleash greater growth potential, Financial Secretary Paul Chan Mo-po said in his Sunday blog.
“As a special administrative region of the country, Hong Kong must continue to understand deeply and learn from the ideas of the 15th Five-Year Plan. Only by understanding the macro-planning can we better integrate into it,” Chan said.
“By combining Hong Kong’s own characteristics, including the institutional advantages of ‘one country, two systems’, the common law system, internationalization, the gathering of high-quality enterprises and high-end talent, and the functions of an international financial center, Hong Kong will be able to unleash greater growth potential,” he said.
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The finance chief added: “Hong Kong boasts world-class financial markets and professional services, providing stronger support for accelerating the development of a modern industrial system and promoting the deep integration of technological and industrial innovation.”
He said the SAR government must accelerate efforts to promote full-chain financing, intellectual property financing, testing and certification, and technology services tailored to the needs of technology companies.
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The finance chief added: “Hong Kong boasts world-class financial markets and professional services, providing stronger support for accelerating the development of a modern industrial system and promoting the deep integration of technological and industrial innovation.”
He said the SAR government must accelerate efforts to promote full-chain financing, intellectual property financing, testing and certification, and technology services tailored to the needs of technology companies.
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“With a clear shared objective, the policy bureaus cooperate and coordinate with each other to formulate comprehensive action plans. We must adhere to the combination of an effective government and an efficient market, break through traditional thinking, be bold to innovate and be determined to reform, implementing the work with a proactive and pragmatic attitude,” Chan said.
The annual plenary sessions of the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference (known collectively as two sessions) concluded last week. The fourth session of the 14th National People’s Congress approved the 15th Five-Year Plan, which sets forth a blueprint and action plan for the country’s socioeconomic development over the next five years.
The outlines gave precise directions regarding optimizing and upgrading traditional industries, cultivating and expanding emerging industries, forward-looking planning for future industries, and high-quality and efficient development of the service sector. Furthermore, the plan highly prioritized strengthening original innovation and tackling key core technologies to accelerate high-level technological self-reliance.
Contact the writers at oswald@chinadailyhk.com
