The Hong Kong Special Administrative Region government has released its first five-year economic and social development plan for 2026 to 2030, setting out goals tied to China’s upcoming 15th Five-Year Plan and placing innovation and financial technology at the center of its agenda. According to the plan, Hong Kong aims to become an international innovation and technology hub, with local innovation spending targeted to reach 3% of GDP after 2030. It also wants the value added by manufacturing and emerging industrial sectors to account for 5.5% of GDP. The document says Hong Kong will strengthen national key laboratories and the InnoHK research platform, while expanding into frontier fields including quantum technology, aerospace, and ocean exploration. The government also plans to create a dedicated frontier technology task group, launch a special call for aerospace technology projects, and reserve HK$100 million for a gerontechnology promotion scheme. On the finance and industry side, the plan calls for consolidating Hong Kong’s role as an international trade center, deepening intellectual property trade, attracting major international and mainland brands and companies through dedicated incentives, and using modern finance to support the integration of technological and industrial innovation.
The Hong Kong Special Administrative Region government has released the Hong Kong Special Administrative Region Economic and Social Development First Five-Year Plan (2026-2030), setting out a policy blueprint tied to China’s 15th Five-Year Plan and framing the city’s goal of becoming an international innovation and technology center.
Under the plan, Hong Kong is aiming for local innovation expenditure to account for 3% of GDP after 2030. It also wants manufacturing and emerging industrial sectors to contribute 5.5% of GDP in terms of value added.
Research platforms and frontier technology
The document says Hong Kong will strengthen the advantages of national key laboratories and the InnoHK research platform. It also names quantum technology, aerospace, and ocean exploration as frontier areas for future development.
The government plans to establish a dedicated frontier technology task group, launch a special project call for aerospace technology, and reserve HK$100 million for a gerontechnology promotion program.
Finance and industry priorities
On finance and industry, the plan says Hong Kong will work to consolidate its status as an international trade center, while playing the roles of a "super connector" and a "super value-adder." It also calls for deeper development of intellectual property trade.
The government said it will use a dedicated package of preferential policies to attract international and national brands as well as key enterprises to set up in Hong Kong. The plan also calls for modern finance to support the integration of technological innovation and industrial innovation.
The information was cited from a Hong Kong government press release, as referenced by Techub.
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