The first five-year plan of the Hong Kong Special Administrative Region was officially announced: artificial intelligence will be an important industry for future development

The Zhitong Finance App learned that on September 16, the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, announced the “First Five-Year Plan for the Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)”. Li Jiachao said that promoting artificial intelligence is an important industry for the future development of Hong Kong, and empowering thousands of industries with artificial intelligence technology. Improve the artificial intelligence ecosystem in multiple dimensions and continue to comprehensively promote the “Artificial Intelligence +” initiative. Strengthen cross-border integration, deepen the development and utilization of data resources and collaborative development with the mainland. Make every effort to improve the computing power infrastructure layout to enable development. Through the construction of the Shaling Data Park, we will provide strong support for the computing power needed to develop the artificial intelligence industry in Hong Kong.

For the first time, Hong Kong formulated a five-year plan to better integrate and serve the country's overall development planning needs

Among them, it is proposed that in the year the country's “15th Five-Year Plan” began, the Hong Kong Special Administrative Region formulated a five-year plan for the first time. This is a major step of the HKSAR Government to uphold and improve administrative leadership and enhance the effectiveness of governance. It is an action plan to actively meet the country's development strategy, better integrate and serve the overall national development agenda. It is also an action plan to forge social consensus, unite forces from all sectors, and promote the governance and development of Hong Kong and achieve high-quality development. Li Jiachao said that in formulating the first five-year plan for the economic and social development of the Hong Kong Special Administrative Region (2026-2030), it is necessary to formulate Hong Kong's medium- and long-term development strategy based on Hong Kong's reality, clarify the development direction, mission goals, strategic priorities and implementation paths, as well as policies, measures and major projects with Hong Kong characteristics. Through the five-year plan, the direction of development will be more clear, resource allocation will be more effective, social expectations will be more stable, the welfare of citizens and the interests of local investors will be more fully guaranteed, and a more open, more inclusive, freer, more prosperous and safer Hong Kong will become a gateway bridge between the country and the world and an international city full of opportunities.

Hong Kong will help promote the development of low-altitude cross-border logistics in the Greater Bay Area

It will promote the development of low-altitude cross-border logistics in the Guangdong-Hong Kong-Macao Greater Bay Area. Make full use of the industrial base and geographical advantages of the Guangdong-Hong Kong-Macao Greater Bay Area, connect resource elements in the three regions of the Guangdong-Hong Kong-Macao Greater Bay Area, expand low-altitude cross-border logistics application scenarios in the Guangdong-Hong Kong-Macao Greater Bay Area, and accelerate the formation of an integrated large-scale low-altitude cross-border logistics network covering the Guangdong-Hong Kong-Macao Greater Bay Area through pioneering exploration experience in cooperation with neighboring mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area.

Support leading mainland and overseas industries and high-quality emerging industry enterprises to go public in Hong Kong

Optimizing the efficiency of the securities market. Strengthen the competitiveness of the listing system and enhance the operational efficiency of securities market infrastructure, and support mainland and overseas industry leaders and high-quality emerging industry enterprises to go public in Hong Kong, including deepening cooperation between the Hong Kong Stock Exchange and the Qianhai Equity Exchange Center, helping more high-quality mainland enterprises connect with the international capital market through Hong Kong's listing platform and build smoother and more efficient listing services. Improve and expand financial market connectivity mechanisms, expand emerging fields, use the functions of investment and financing platforms, and promote economic, trade, finance and infrastructure cooperation with emerging economies such as the “Belt and Road” countries and the global South.

Artificial intelligence will be an important industry for the future development of Hong Kong

Promote artificial intelligence as an important industry for the future development of Hong Kong, and empower thousands of industries with artificial intelligence technology. Improve the artificial intelligence ecosystem in multiple dimensions and continue to comprehensively promote the “Artificial Intelligence +” initiative. Strengthen cross-border integration, deepen the development and utilization of data resources and collaborative development with the mainland. Make every effort to improve the computing power infrastructure layout to enable development. Through the construction of the Shaling Data Park, we will provide strong support for the computing power needed to develop the artificial intelligence industry in Hong Kong. Review the legal infrastructure needed to support the wider application of artificial intelligence and data, ensure that Hong Kong's laws are timely, and establish a regulatory framework favorable to the development of artificial intelligence and intelligence in Hong Kong. Support small and medium-sized enterprises to accelerate the application of artificial intelligence. Improve the artificial intelligence literacy of citizens and help citizens enjoy a safe and convenient digital life. Formulate strategies for artificial intelligence to drive industrial transformation and development based on life health and physical intelligence.

Explore the construction of a demonstration compliance base for low-altitude economic outings

Build a low-altitude innovation and application hub in the Asia-Pacific region, and formulate and implement the “Action Plan for the Development of the Low-altitude Economy”. Improve the regulatory framework, standard setting, infrastructure construction, etc., and actively enhance scientific research, talent training, and international standards related to the low-altitude economy. Play the role of “leading, bridging, and demonstrating” and explore the establishment of a demonstration compliance base for low-altitude economic outings on the basis of strengthening effective links with the mainland's regulatory framework. Research and the Mainland jointly promote the establishment of an international low-altitude economic cooperation organization.

Establish an authoritative international pharmaceutical device supervisory authority to establish independent drug review capabilities

Comprehensively deepen drug and medical device (pharmaceutical device) supervision reform, improve the supervision system, meet international standards, establish independent pharmaceutical device review and approval capabilities, actively participate in the international pharmaceutical supervision stage, and seek certification from international authorities. Promote research and development of innovative drugs and medical devices, accelerate the marketing and use of innovative drugs, and build Hong Kong into an international medical innovation hub. Enhance the role of pharmaceutical devices in the Guangdong-Hong Kong-Macao Greater Bay Area as a driving force for people's health.

Promote the quality and expansion of Disneyland and build Ocean Park as a base for conservation research and education

Deepen the collaborative development of cultural, sports and tourism, and enrich the supply of high-quality tourism products. Deepen themed travel experiences, promote unique Chinese and foreign festivals, and highlight Hong Kong's advantages in integrating Chinese and foreign cultures. Open up more city walking routes, promote horse racing tourism, promote Hong Kong cuisine, expand and strengthen the annual flagship event, and strengthen ties and cooperation with internationally renowned winemaking regions. Continue to build Hong Kong into the “Asian Event Capital” and promote international event tourism combining sports and culture. Consolidate Hong Kong as an international cruise hub in Asia, attract cruise ships to Hong Kong and use Hong Kong as a home port, actively explore customer markets and continue cooperation with ports in the Guangdong-Hong Kong-Macao Greater Bay Area. Take full advantage of Hong Kong's beautiful coastline and rich island resources to develop island hopping tours and other water activities. Continue to enhance the appeal of famous tourist attractions (including Hong Kong Disneyland and Ocean Park).

Strengthening Hong Kong's role as the world's largest offshore RMB business hub

Strengthen Hong Kong's role as the world's largest offshore RMB business hub. Comprehensively expand the scale of offshore RMB business, continuously improve the offshore RMB ecosystem, strengthen liquidity support, establish a liquidity supplement mechanism for the Hong Kong RMB offshore market, accelerate the innovation and expansion of offshore RMB product types, build a full-coverage, multi-level RMB cross-border circulation network, and improve the stability of offshore RMB financing. Actively promote RMB as the government's payment currency. Further enhance the ability of the offshore RMB market to support the real economy, comprehensively enhance its support and promotion role in trade, investment and financing, and cross-border business development, and support enterprises to use RMB more widely in cross-border economic and trade business, and facilitate the exchange of RMB with other regional currencies.

Research and promote banking institutions' current account cross-border insurance fund settlement facilitation services to deepen connectivity with the mainland insurance market

Promote cross-border capital flows and carry out innovative experiments in financial policies. Strengthen financial market linkages with cities such as Shenzhen and Guangzhou, promote the application of cross-border data verification platforms, and promote the high-quality development of fintech in the Guangdong-Hong Kong-Macao Greater Bay Area. Make good use of the role of the Guangdong-Hong Kong-Macao Greater Bay Area as a testing ground for policy innovation, provide residents in the Guangdong-Hong Kong-Macao Greater Bay Area with richer cross-border insurance products, research and promote facilitation services for current account cross-border insurance funds by banking institutions, and deepen connectivity with the mainland insurance market. Deepen cross-border gold processing trade, explore green finance, sustainable investment, and fintech cooperation, and promote the development of the Guangdong-Hong Kong-Macao Greater Bay Area carbon market and green finance ecosystem to promote the development of the international carbon market.

Promote more mainland institutions to invest in the Hong Kong bond market and expand the “Stock Connect”, “Bond Connect”, “Wealth Connect” and “Private Equity Connect” channels and business volume

It is necessary to optimize the international bond market. Collaborate to promote primary market issuance, secondary market liquidity improvement, offshore RMB business expansion, and fixed income and monetary infrastructure construction. Improve “Bond Connect” (Southbound Connect) and continue to promote the optimization and expansion of Southbound Connect in terms of investment scale, scope of investors, products, and transaction arrangements. Promote more mainland institutions to invest in the Hong Kong bond market and expand the “Stock Connect”, “Bond Connect”, “Wealth Connect” and “Private Equity Connect” channels and business volume.