As the 14th Five-Year Plan concludes successfully, the national GDP has surpassed 140 trillion RMB, with fruitful achievements in scientific and technological innovation leading the world in numerous frontier fields. The 15th Five-Year Plan is the strategic roadmap for the nation to basically achieve modernization by 2035, outlining 109 major projects across six key areas. This also serves as a crucial compass for Hong Kong’s high-quality development.
The phrasing regarding Hong Kong in the 15th Five-Year Plan has been upgraded from "integrating into the overall national development" to "integrating into and serving the overall national development," marking a significant elevation of Hong Kong's role and positioning. Furthermore, the plan explicitly supports the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area) as an international innovation and technology (I&T) hub and supports Hong Kong and Macao in building a high-ground for international high-end talent. This is a clear affirmation of Hong Kong’s capabilities and reflects the Central Government’s higher expectations and greater trust in the city.
Northern Metropolis: Focusing on I&T and talent
The Northern Metropolis, as a strategic pivot for integrating into the national I&T system, has been included in a national Five-Year Plan for the first time. Seizing this opportunity, Hong Kong should accelerate top-level coordination with Greater Bay Area mainland cities to resolve deep-seated pain points regarding the misalignment of mechanisms and rules. I believe the Northern Metropolis has two main focal points: first, the establishment of industries; and second, the construction of a University Town to accelerate the convergence of industry-academic research and high-end talent.
In terms of industrial layout, the 15th Five-Year Plan proposes 28 projects centered on "New Quality Productive Forces," covering integrated circuits, biomanufacturing, commercial aerospace, brain-computer interfaces, AI, quantum technology, and life sciences. These represent industrial opportunities for Hong Kong. We can focus on directions within the Northern Metropolis that align with Hong Kong’s research strengths and industrial foundations. By deeply integrating with the Greater Bay Area supply chain, we can plan and build several internationally competitive industrial clusters. Simultaneously, we should establish a series of application scenarios that align with international standards, enabling mainland enterprises to "train" in Hong Kong before expanding into overseas markets. Hong Kong’s business community must also actively participate, embracing new technologies and industries while investing in I&T and the Northern Metropolis.
Talent is a vital strategic resource. In my proposals to the National People's Congress this year, I suggested supporting mainland "Double First-Class" universities to establish research institutes in the Northern Metropolis. This would utilize Hong Kong’s international academic environment to attract top global scientists and high-end talent for research work. If top-tier national institutions like Tsinghua, Peking, and Fudan Universities could establish a presence in the Northern Metropolis, they could deepen industry-academic research collaboration with Hong Kong’s world-class universities. Meanwhile, we must improve supporting measures for talent services—including housing, children's education, medical services, tax arrangements, and convenient visa processes—to create an environment where talent truly feels a sense of belonging. This ensures we can not only "attract" talent but also "retain" and "utilize" them effectively.
Furthermore, I have submitted proposals to the Central Government across various sectors, including encouraging mainland enterprises to use Hong Kong as a platform for "going global," optimizing the "Greater Bay Area Combined Port" model, strengthening Hong Kong as a physical gold trading market, promoting RMB internationalization, expanding the recognition of professional qualifications for Hong Kong residents in the mainland, and facilitating the flow of research elements. Among these, suggestions such as issuing RMB sovereign bonds in Hong Kong with various tenors (3-year, 5-year, etc.) and deepening the synergy of Greater Bay Area port clusters have received swift responses from central ministries.
Aligning Hong Kong’s planning with national strategy
The SAR Government is actively promoting the compilation of Hong Kong's first Five-Year Plan to proactively align with national strategies. In the past, Hong Kong’s economic development relied more on market self-regulation. Now, by formulating its own Five-Year Plan, the city can map out its development path more systematically and proactively, ensuring it keeps pace with the nation’s progress.
During the “Two Sessions”, Vice Premier Ding Xuexiang emphasized that "executive-led" government is not the responsibility of the Chief Executive alone, but a shared duty of all sectors of society. Moving forward, the SAR Government, the Legislative Council, the business sector, academia, and the entire community must work together to transform national and local plans into tangible development results, allowing Hong Kong to achieve greater self-development while serving the nation.
