Key facts
- Hong Kong's institutional advantages can contribute to Asia-Pacific prosperity, according to Stephen Wong Yuen-shan.
- Hong Kong aims to become an institutional 'harbour' for regional trade, leveraging 'soft connectivity'.
- The city's first Five-Year Plan (2026-2030) was announced on September 16.
- The plan focuses on deepening integration with the Guangdong-Hong Kong-Macao Greater Bay Area.
- Key initiatives include advancing cross-boundary railway projects and promoting mutual recognition of professional qualifications.
Hong Kong can bolster regional prosperity by leveraging its institutional strengths and close connections to mainland China and the global economy, according to Stephen Wong Yuen-shan, head of the Chief Executive’s Policy Unit. Speaking at a conference on Monday, Wong described Hong Kong as an evolving institutional 'harbour' where trade from across the Asia-Pacific region can converge and benefit from the city's 'soft connectivity' advantages.
This strategy is underpinned by Hong Kong's First Five-Year Plan for Economic and Social Development (2026-2030), announced on September 16. The plan aims to proactively align with national development strategies and integrate Hong Kong more deeply into the national development framework. It seeks to enhance the city's role as an international financial, maritime, and trade centre, and an international innovation and technology hub.