Hong Kong’s decision to introduce its first five-year plan has prompted familiar questions. Does this signal greater government intervention at the expense of the free market? Will it make Hong Kong’s development model more similar to that of the mainland? Could it overlap with the annual policy address and budget? And without detailed key performance indicators, might it become little more than a symbolic document? These concerns deserve a serious response. For Hong Kong, the purpose of a...
Hong Kong has embarked on the path of drawing up its first five-year plan – a significant moment in its history. Hong Kong’s first five-year plan should be more than a local economic blueprint. Properly conceived, it should define how the city contributes to China’s national development while preserving the global connections that make Hong Kong uniquely valuable. Success will depend on three mutually reinforcing pillars – deeper integration with the mainland, seamless connectivity across the...
Hong Kong’s first five-year plan will undoubtedly mark a significant milestone for the city. The public consultation launched last month covers a range of issues, such as economic development, innovation and technology, housing, healthcare, education, infrastructure and regional cooperation. The exercise offers a chance not only to discuss what Hong Kong hopes to achieve by 2030, but also how its success should be measured. That second question is perhaps the more important one. Hong Kong has...
Beijing’s top representative in Hong Kong has expressed confidence in the city’s ability to achieve greater development by further integrating into the country, while the chief executive has said authorities are moving “at full speed” to draw up the first five-year plan to align with the national blueprint. Speaking at a cultural gala marking the 29th anniversary of the city’s return to Chinese sovereignty on Tuesday evening, liaison office director Zhou Ji said he believed Hong Kong, with “the...