“We will consolidate and enhance Hong Kong’s status as an international financial centre, and stay committed to our global positioning,” Hong Kong’s Chief Executive John Lee said
Hong Kong: Hong Kong’s Chief Executive John Lee rolled out various measures to develop Hong Kong’s key economic centres when he unveiled the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (HKSAR) (2026-2030) and his fifth policy address on September 16.
Under Hong Kong’s First Five-Year Plan, it will continue to boost economic growth led by “four centres and one hub”, namely its status as an international financial centre, international trade centre, international maritime centre and international aviation hub, while expediting the city’s development into an international innovation and technology (I&T) centre. Hong Kong will also become an international hub for high-calibre talent, attracting global capital, talent, and financial enterprises.
On re/insurance, Hong Kong plans to develope insurance-linked securities, captive insurance and a marine specialty risk pool.
Hong Kong’s status as world-renowned international financial, maritime and trade centres as well as an international aviation hub underpin the city’s high-quality development and provide a firm foundation for the city’s long-term stability and prosperity.
“We will consolidate and enhance Hong Kong’s status as an international financial centre, and stay committed to our global positioning,” Lee said adding that the Government seeks to attract long-term capital investment to the Northern Metropolis by lowering capital requirements for eligible infrastructure investments by year-end.
One of the main features of the plan is strengthening Hong Kong’s position as an international risk management centre through the development of insurance-linked securities, captive insurance and a marine specialty risk pool. The Government will also seek to attract long-term capital investment to the Northern Metropolis by lowering capital requirements for eligible infrastructure investments by year-end..
On expanding global competitiveness, Lee said the Government would make good use of its international networks.
“The strength of Hong Kong is its international status, and we have been emphasising on how we ensure the internationalism or the ‘internationalness’ of Hong Kong. We are expanding to cover every part of the world where we can reach,” Lee said, noting that the Government had offices, including Economic and Trade Offices, and the offices of Invest Hong Kong and the Hong Kong Trade Development Council, in countries around the world. “I’m very serious about expanding our network.”
To boost Hong Kong’s influence in overseas markets, Lee highlighted the example of the International Organization for Mediation (IOMed).
“We are very proud to have the headquarters of IOMed set up in Hong Kong, because this is an organisation which is of United Nations status,” Lee said.
He added that an international office would be set up in Hong Kong under the global network of corruption prevention authorities.
“Hong Kong is an international city, which not just is very good at doing business, but is exercising its responsibility as a global participator, and also, we really can contribute.”
Hong Kong will deepen the development of its global offshore Renminbi business and capital market, develop an international asset and wealth management centre and international risk management centre, enhance the securities market and expand fixed income and commodity trading, he elaborated.
At the same time, Hong Kong actively participates in the work of international organisations, and fully participates in the high-quality co-operation under the Belt and Road Initiative, so as to create an international collaboration network.
Hong Kong has become the world’s largest cross‑boundary wealth management centre this year, and the HKSAR Government will continue to develop a more attractive asset and wealth management ecosystem, Lee informed.
Hong Kong will develop a commodity trading ecosystem with gold as an entry point by driving the development of the clearing system, storage, supply, and infrastructure related to gold trading. The city’s central clearing and settlement system for gold will be officially launched in the first quarter of 2027.
“The significance of the First Five-Year Plan for Hong Kong lies in a mindset shift; we must plan Hong Kong’s financial development with a longer-term vision and broader perspective to adapt with flexibility and diversity,” said Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury.
“Each of our initiatives centres around one objective, which is to elevate Hong Kong from a ‘corridor of capital’ to a ‘destination of choice’.”
Hong Kong was ranked the world’s fifth‑largest entity in merchandise trade in 2025. The HKSAR Government announced plans to consolidate and enhance Hong Kong’s status as an international trade centre, playing a greater role in the high‑level opening up of the Chinese Mainland.
Since the Task Force on Supporting Mainland Enterprises in Going Global was established last October, it has provided assistance, including listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements for more than 340 Mainland enterprises.
The Task Force will strengthen collaboration with professional organisations to train talent for the GoGlobal initiative and enhance professional services, among other areas.
“In alignment with the National 15th Five-Year Plan’s call to advocate and practise true multilateralism, the First Five-Year Plan proposes to continue expanding international economic and trade network,” said Algernon Yau, Hong Kong’s Secretary for Commerce and Economic Development.
“We will actively forge free trade agreements and investment agreements with economies that are of development potential or strategic locations. Meanwhile, we will expand our network of overseas offices, and leverage the combined networks of our overseas Economic and Trade Offices, InvestHK, and the Hong Kong Trade Development Council offices globally to deepen overseas ties and step up trade and investment promotion.”
As an international maritime centre, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The Five-Year Plan will drive a “volume to value” transformation of the Hong Kong Port, capitalising on its strengths in high value‑added maritime services, to develop Hong Kong into a “Global Maritime Capital”.
To promote high value-added services, the industry will develop “Finance + Shipping”.
Taking advantage of the city’s well‑established maritime finance, insurance and maritime arbitration under common law, Hong Kong will build an integrated ecosystem under which Hong Kong‑invested enterprises adopt Hong Kong law, take out Hong Kong insurance and choose for arbitration to be seated in Hong Kong.
Regarding aviation, Hong Kong’s passenger throughput recorded a year‑on‑year increase of 15% last year, to 61 million, with flights to over 220 destinations. The city’s air cargo throughput reached 5.07 million tonnes, making its airport the world’s busiest cargo airport for the 15th year since 2010.
To strengthen development as international aviation hub, Hong Kong will expand its aviation network, and diversify business opportunities.
The HKSAR Government will continue to take the initiative to visit South America, Africa, Central Asia, the Middle East and the Caucasus to expedite the conclusion of new air services agreements and the expansion of traffic rights, thereby assisting the industry in exploring new passenger and cargo sources.
As for building Hong Kong as an international innovation and technology centre, the HKSAR Government will step up its efforts to promote artificial intelligence (AI) applications across various trades, and continue to strike a balance between encouraging innovation and protecting security, thereby enhancing Hong Kong’s international competitiveness in AI development.
In alignment with the national strategic technology areas, Hong Kong will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing and new materials. It will also continue to raise the ratio of Total Domestic Expenditure on Innovation Activities to Gross Domestic Product, striving to reach 3% after 2030.
Asked about Hong Kong’s approach to adopting artificial intelligence (AI), Lee stressed the need to take advantage of the opportunities brought by AI, while also protecting against the risks of AI, in areas such as crime, fraud, sexual abuse and potential negative impacts on younger people.
“Last year, we talk very much about how we should benefit from the application of AI, how it will do things faster, and how it will also do things more correctly,” Mr Lee said.
“So while we develop and ensure people understand and use it, we also need to tell everybody the potential risks that it will bring.”
Lee said the Government would create a post of Commissioner for AI, with a mandate that he is “the chief for the whole government, in terms of AI. It means setting the policy. It means coordinating resources, identify problems for them, setting the best practices, issuing guidelines. And also, very importantly, is developing AI for the whole of government with a view to, after we have developed our experience, let the world also learn from these experiences.”