Forum: SAR should leverage strengths, catch ‘historic’ opportunities for growth

The Hong Kong Special Administrative Region should proactively align with the nation’s 15th Five-Year Plan (2026-30) to unlock “historic” opportunities for growth, senior officials and business leaders said at a Beijing symposium on Thursday, urging the SAR to leverage its strengths in support of national development.

The event was co-organized by the Hong Kong Trade Development Council and the Hong Kong Chamber of Commerce, shortly after the outline of the 15th Five-Year Plan for national economic and social development was approved at the closing of the fourth session of the 14th National People’s Congress on March 12.

The blueprint supports the Hong Kong SAR’s development as an international center in 10 fields, including finance, shipping and trade, and calls for strengthening its status as a global hub for aviation and offshore renminbi business. It also highlights plans to accelerate the development of the Northern Metropolis, a new township focused on innovation and technology and covering about one-third of Hong Kong’s land area.

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Hong Kong Financial Secretary Paul Chan Mo-po said that closer alignment with the 15th Five-Year Plan will create “historic new opportunities” for the city. Before the symposium, the delegation led by Chan met with Xia Baolong, director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council.

Chan said Hong Kong is well positioned to contribute to the country’s modern industrial system and its drive for greater technological self-reliance, as the city has strong basic research capabilities, a growing innovation and technology ecosystem, and the ability to attract global talent.

Moreover, Hong Kong’s status as a free port and its strengths in professional services enable it to support Chinese mainland enterprises expanding overseas while serving as a gateway for foreign investors entering the mainland market, said Chan, adding that this will help advance the country’s high-level opening-up.

He added that Hong Kong could also help the nation attract and cultivate top global talent. Since 2022, nearly 280,000 high-caliber professionals from home and abroad have settled in Hong Kong under various talent admission programs, injecting fresh impetus into the local economy.

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To help more mainland companies expand overseas through Hong Kong, HKTDC Chairman Frederick Ma Si-hang said the council will launch a new GoGlobal Connect service in mid-April.

Ma said the move aligns with the HKTDC’s increased efforts to coordinate with the 15th Five-Year Plan. The council established a task force in early January to respond to national, regional and sector-specific development plans, and to formulate its own strategies and priorities.

Over the past month, the HKTDC has held 14 forums on the five-year plan in cities including Shanghai, Shenzhen in Guangdong province and Chengdu in Sichuan province. These events aimed to help Hong Kong businesses better understand national policies and identify new opportunities. “National development represents Hong Kong’s biggest opportunity,” Ma said.

Separately, the Commerce and Economic Development Bureau launched the Task Force on Supporting Mainland Enterprises in Going Global in October. It is tasked with attracting mainland firms to use Hong Kong as a springboard for international growth and coordinating participating agencies to provide one-stop services.

Besides facilitating global expansion, the Hong Kong SAR government is strengthening its international ties to attract overseas companies. In December, Hong Kong set up a new Economic and Trade Office in Kuala Lumpur, Malaysia.

Contact the writers at irisli@chinadailyhk.com