Hong Kong Should Focus on Three Strategic Pillars to Align with the 15th Five-Year Plan, Enhance Integration and Services to Drive National Development

For Immediate Release

The nation's 15th Five-Year Plan is a comprehensive blueprint for the nation's high-quality development that serves as a vital guide for Hong Kong to seize new opportunities and development amidst the complex global shifts. The report specifically highlights the initiative to "expand the capacity and enhance the quality of the service sector." This includes the development of key services, such as finance, modern logistics, intellectual property, and certification and testing. 

"Under the 'One Country, Two Systems' framework, Hong Kong has enjoyed long-term prosperity and stability, further consolidating our many advantages in the financial, logistics and business sectors,” said Agnes Chan, Chairman of the Hong Kong General Chamber of Commerce (HKGCC). As we enter into this strategic period of the 15th Five-Year Plan, Hong Kong is well-positioned to capture emerging opportunities and achieve breakthrough growth in several core sectors."

Chan also noted the significance of the report articulating Hong Kong's mission as "better integrating into and serving the overall national development." This signifies a deepening of Hong Kong's expected contribution to the country's development, and at the same time recognizing the city's unique capabilities and strategic value. HKGCC believes there are three key strategic pillars through which Hong Kong should focus on: 

I. Strengthening Integration of Innovation and Technology (I&T) Infrastructure With the HKSAR Government accelerating the development of the Northern Metropolis, designating land and capital for I&T infrastructure within the planning process will facilitate efficient synergy and joint utilization of facilities between Hong Kong and the Mainland, including integrating with the "National Integrated Computing Power Network." 

II. Deepening Alignment of Regulatory Frameworks and Mechanisms In the field of Artificial Intelligence (AI), the seamless integration of data, algorithms, and computing power is essential to unlock the potential of innovation. Both sides could explore new mechanisms for cross-boundary data flow, such as establishing "AI Technology Sandboxes" or implementing "Positive Lists" to accelerate the commercialization of AI technologies.

III. Facilitating the Global Reach of National Rules and Standards The city's sophisticated financial ecosystem, world-class professional services, robust intellectual property protection regime, and strategic position as a two-way platform between China and international markets position it Hong Kong uniquely to support and execute the national vision. Hong Kong possesses a sophisticated professional services ecosystem and is the only jurisdiction in the world to apply a bilingual Common Law system. These unique advantages will help drive cross-boundary cooperation mechanisms to help shape international industrial rules and standards.

Media inquiries: Please contact Ms Chloe Lee at 2823-1297 / [email protected]