The SAR Government is currently formulating its first five-year plan, and we hope the authorities will take local circumstances into account and actively listen to views from various sectors. The Chamber will fully support the SAR Government's arrangements to help Hong Kong seize new development opportunities under the "15th Five-Year Plan."
The National People’s Congress has approved the outline of the 15th Five-Year Plan. This blueprint not only charts a grand vision for the country’s long-term development but also provides a clear direction for Hong Kong to integrate into and contribute to the overall national development strategy. In this new era and context, Hong Kong’s business community must proactively align with the 15th Five-Year Plan, deepening its established roles as a “super connector” and “super value-adder.” Furthermore, it should collaborate with the HKSAR Government in formulating Hong Kong’s first five-year plan. This concerted effort will enable the business community to contribute significantly to the nation’s high-quality development and capitalize on the immense opportunities presented by the Plan.
Providing Comprehensive Support for Enterprises “Going Global”
The 15th Five-Year Plan outlines numerous initiatives directly relevant to Hong Kong, focusing on its long-term prosperity and stability. It also emphasized deep synergy with the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area), further solidifying Hong Kong’s strategic positioning of “ten centers”, “two hubs” and “one ecosystem”. This unequivocally demonstrates the Central Government's trust and high expectations for Hong Kong.
As mainland industrial chains continue to upgrade, the “going global” trend for enterprises is becoming increasingly imperative. Hong Kong should leverage its comparative advantages to offer comprehensive, end-to-end support for mainland enterprises. Specifically, it could involve establishing a one-stop service platform, encompassing market research, compliance reviews, company registration, and local operational support, thereby creating a complete service ecosystem.
Hong Kong can also assist in establishing a "Going Global Risk Early Warning System." Led by the Ministry of Commerce in collaboration with the HKSAR Government and relevant institutions, this system would regularly disseminate information on country-specific risks, compliance changes, and geopolitical developments, enabling enterprises to proactively identify the mitigate potential risks. Furthermore, Hong Kong should cultivate the brand "Hong Kong Services for Mainland Enterprises Going Global," thereby enhancing international recognition and trust in – the “Mainland enterprises + Hong Kong services” model and creating a powerful demonstration effect.
Gathering Cutting-Edge Innovation and Technology Resources
Hong Kong must accelerate the development of the Northern Metropolis to attract leading mainland and international technology enterprises and R&D centers. This initiative will provide significant impetus for the nation to overcome critical technological bottlenecks. The establishment of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone also presents a crucial opportunity. Hong Kong should facilitate the efficient cross-border flow of innovation and technology elements, build platforms for industry, academia, and research, and develop a coordinated “Hong Kong innovation + Greater Bay Area commercialization” model.
Chinese Mainland has already achieved notable success in strategic emerging fields such as artificial intelligence, big data, biotechnology, and new energy. Hong Kong must therefore deeply integrate its own development strategies with major national priorities, focusing on technological frontiers and fostering the growth of these critical industries. Hong Kong’s professional services, including finance, law, and intellectual property, can provide robust support for the upgrading of mainland industries. Furthermore, they will play an irreplaceable role in promoting the internationalization of mainland technological standards.
Fully Serving the Nation’s Goal of Becoming a Financial Powerhouse
With the continuous rise in international investors’ demand for RMB assets, Hong Kong should further consolidate its status as an offshore RMB financial center. This include promoting the development of the offshore RMB bond market and establishing itself as a regional corporate treasury center, thereby supporting multinational corporations in conducting RMB fund management, investment and financing activities in Hong Kong. To meet the substantial financing needs of mainland enterprises, Hong Kong must advance reforms and innovations in its listing rules. This will ensure that its capital markets can more precisely and efficiently serve mainland enterprises’ IPOs and debt financing needs.
Furthermore, Hong Kong should continue to cultivate its five key financial sectors: technology finance, green finance, digital finance, pension and inclusive finance, and Islamic finance/ These sectors are crucial not only for serving the nation’s strategic objectives in technological innovation, green development, and the digital economy, but also connecting with the mainland’s carbon trading market, thereby assisting the nation in achieving its “dual carbon” goals. Moreover, they will play a vital role as a financial support platform for the” Belt and Road” Initiative.
Building a Global Talent Hub
The 15th Five-Year Plan supports Hong Kong’s ambition to become an international hub for high-caliber talents. Hong Kong and the entire Greater Bay Area must jointly explore institutional alignment in areas such as employment services, social security, and professional qualifications. This will involve refining policies to facilitate talent mobility and removing existing bottlenecks in talent flow. Concurrently, Hong Kong should strengthen cooperation with mainland tertiary institutions, attract world-class scholars to work in the city, and promote the “Study in Hong Kong” brand. By building an international education hub, Hong Kong can significantly enhance its appeal in the global talent market.
The HKSAR Government is currently embarking on formulating its first five-year plan, which will fully align with the national 15th Five-Year Plan. We anticipate that the authorities will accurately define Hong Kong’s role, carefully considering local circumstances and actively soliciting feedback from all sectors. The CGCC pledges its full cooperation with the SAR Government’s initiatives, aiming to galvanize the business community’s strength. We will assist in driving the implementation of these plans, enabling Hong Kong to fully seize the new development opportunities presented by the 15th Five-Year Plan.
