The Hong Kong Special Administrative Region’s first-ever five-year plan sets out a total of 105 indicators, covering areas of economic development, housing, global competitiveness and people’s livelihoods, to align with the national 15th Five-Year Plan (2026-30).

Unveiling the plan on Wednesday, Chief Executive John Lee Ka-chiu said it would clarify Hong Kong’s development direction, improve resource allocation, stabilize social expectations and better protect residents’ welfare and global investors’ interests, making the city more open, inclusive, free, prosperous and safe.

“We will make the Hong Kong SAR a bridge and gateway between our country and the rest of the world as well as a more attractive, vibrant and opportunity-rich world city, continuing to make unique and more substantial contributions to building a strong country and achieving national rejuvenation through (the) advancement of Chinese modernization,” Lee said.

The 60,000-Chinese character strategic road map outlines Hong Kong’s development direction in seven parts and 28 chapters, covering areas such as accelerating the development of the Northern Metropolis, deepening Guangdong-Hong Kong-Macao Greater Bay Area integration, and improving residents’ livelihoods. It specifies 105 indicators for the next five years.

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Lee also identified seven underlying principles of the city’s first five-year plan. They are: adhering to the “one country, two systems” principle; remaining committed to a livelihood-oriented approach; upholding an executive-led system; embracing reform and innovation; upholding the two-pronged approach of “effective market” and “capable government”; adopting a holistic approach to development and security; and pragmatic and proactive planning.

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The document also sets five main objectives, including achieving new breakthroughs in economic development through consolidating the SAR’s status as “four centers and one hub” — an international finance center, an international maritime center, an international trade center, and an international aviation hub, and expediting the development of the city into an international I&T center and an international hub for high-caliber talent.

Other objectives include expanding global competitiveness and influence, enhancing the speed and effectiveness of the Northern Metropolis development, enhancing social well-being markedly, and taking significant strides in integrating into and serving the overall national development.

Among the indicators listed is the target of raising the ratio of total domestic expenditure on innovation activities to GDP from 1.63 percent in 2024 to 3 percent after 2030.

On the indicators for the Northern Metropolis, the government aims to complete 70,000 units from 2026-27 to 2030-31 — a 6.4 times increase compared to the 11,000 units built between year 2021-22 to 2025-26. The plan also directs the government to enhance the flat mix of public housing and raise the unit size requirements for new private residential projects to enhance the average living space per person.

Over the next five years, the SAR government is aiming to reduce the total waiting time for public rental housing to less than four years by building a total of 196,000 public housing units.  

To review the progress of the plan’s implementation, the chief executive will report to the president of the People's Republic of China and the central government during annual duty visits.

“By comparing against the objectives and indicators set out in the plan, we will be able to methodically assess our performance and contemplate improvements, so as to constantly strengthen the efficacy of the five-year plan,” Lee said.

Following the first five-year plan, Lee also unveiled the last Policy Address of his term, rolling out concrete measures to develop the economy, enhance the city’s competitiveness, attract talent, improve the quality of living, and encourage childbearing.

Contact the writer at stacyshi@chiandailyhk.com