Key facts
- Hong Kong's government has launched its first five-year plan.
- The plan highlights economic growth from negative 3.7% to 3.6% in the past year.
- First-half 2026 economic growth reached 5.1% year-on-year.
- GDP surpassed $3.3 trillion in 2025.
- Hong Kong is ranked the world's freest economy and third-largest international financial center.
- Substandard housing units are being eradicated through new legislation.
Hong Kong has launched its first five-year plan, outlined in the Chief Executive's 2026 Policy Address, signaling a new chapter for the city. The plan emphasizes economic recovery and development, with the government highlighting significant achievements over the past four years.
The economy has rebounded from a 3.7% contraction to a 3.6% growth last year, and saw a strong 5.1% year-on-year increase in the first half of 2026. Total exports of goods grew by over 26% year-on-year, and the Gross Domestic Product surpassed $3.3 trillion in 2025. The city has also seen record numbers of registered local and non-local companies and ranks among the top globally for IPO fundraising. Median monthly employment earnings have risen by a cumulative 20% over the past four years.
Globally, Hong Kong is recognized as the world's freest economy and has reclaimed its position as the third-largest international financial center, also becoming the largest cross-boundary wealth management center. Its world competitiveness ranking has climbed to second place, and it ranks fourth globally in talent competitiveness, with five universities among the world's top 100.
In terms of social policy, the government has addressed long-standing issues by enacting legislation to regulate ride-hailing services, rationalizing traffic flow across harbor crossings, and eradicating substandard housing units through the Basic Housing Units Ordinance. Initiatives like Light Public Housing (LPH) have been introduced, and the waiting time for subsidized rental housing has been reduced to 4.8 years, the lowest in over eight years. Over 10,000 public rental housing units have been recovered.
The government also highlighted its commitment to the principle of 'patriots administering Hong Kong,' strengthening executive-legislative interaction, and improving district-level governance through initiatives like Care Teams. Reforms in healthcare include an expedited approval system for drugs and medical devices and advancements in primary healthcare.