Chief Executive John Lee

Today marks the 77th anniversary of the founding of the People’s Republic of China. It carries the special significance of being the first National Day celebrated since the announcement of Hong Kong’s First Five-Year Plan.

Over the past 77 years, the Chinese nation has achieved a historic transformation – from standing up and growing prosperous to becoming strong. Today, China has become the world’s largest manufacturer and merchandise trader, its leading contributor to scientific research output and much more, exerting significant influence on international affairs.

The formulation of a Five-Year Plan for Hong Kong is not merely about rolling out a series of policy initiatives. The plan provides a strategic roadmap for Hong Kong, allowing us to apply our unique advantages under “one country, two systems”, embrace modern trends and seize the opportunities brought by national development.

Why should we formulate a Five-Year Plan? And why do it now? The answer is straightforward: to fully and swiftly seize the immense opportunities brought by national development, and to deliver more fruits of development to the benefit of our citizens. Faced with an ever-changing geopolitical landscape, the reshaping of industrial chains, as well as the rapid development of technology and artificial intelligence, Hong Kong must devise a strategic roadmap in a proactive manner and put in place forward-looking plans. As the world’s second-largest economy, China is widely recognised as both a driver and a stabiliser for global economic development. Time and tide wait for no man. We must act decisively and respond to changing circumstances by formulating the Five-Year Plan, in order to ride the wave of opportunities, keep pace with the times, and integrate into and serve the overall national development. This can only boost Hong Kong’s progress and allow the people of Hong Kong to enjoy more development dividends.

Hong Kong’s First Five-Year Plan is a logical and target-oriented plan. It is based on an overall review of Hong Kong’s prevailing strengths, weaknesses, opportunities and threats, and it serves as a comprehensive blueprint targeted at building strengths, overcoming weaknesses, seizing opportunities and managing threats. The plan focuses on six themes: first, to strengthen the development of “four centres and one hub”, namely our status as international financial, maritime and trade centres and an international aviation hub, as well as our development into an international innovation and technology centre and an international hub for high-calibre talent; second, to leverage our advantage as an international city by deepening Hong Kong’s development of a legal and dispute resolution services centre, intellectual property trading centre and East-meets-West centre for international cultural exchange; third, to expedite the development of the Northern Metropolis; fourth, to reinforce our strength in connecting with the country and the world; fifth, to enhance social well-being; and sixth, to adopt a holistic approach to development and security. These six themes cover economic development, spatial layout, internal and external connectivity, livelihood enhancement, and risk prevention and control, forming a comprehensive system with interconnected and mutually reinforcing components.

The three key distinctive features of Hong Kong’s First Five-Year Plan are: first, it is well-suited to the unique characteristics of Hong Kong. In the foreword on page 1 of the plan, it is made clear from the outset that Hong Kong’s Five-Year Plan has to be grounded in the city’s practical reality, and supported by policy measures and major projects that feature Hong Kong's unique character.

Second, it adheres to the “one country, two systems” principle. This means that the First Five-Year Plan must be developed under the Basic Law framework. The Basic Law expressly provides for the practice of capitalism and the common law system, as well as the free flow of capital, people, goods and information in Hong Kong, while the First Five-Year Plan stresses a market economy and upholds the two-pronged approach of effective market and capable government.

Third, the First Five-Year Plan clearly defines Hong Kong’s international positioning. Its 'International Financial Centre' chapter points out that we must firmly demonstrate Hong Kong’s international positioning, whereas the Policy Address states that we will stay committed to our global positioning. The two documents reiterate the importance and establishment of Hong Kong’s global positioning, which powerfully illustrates that it is part of our city’s DNA.

One of the initiatives for implementing the First Five-Year Plan is to fully leverage Hong Kong’s unique advantage as a connector between the country and the rest of the world. Hong Kong is the only city in the world that enjoys the convergence of national and international opportunities. The ultimate focus of the plan is, in fact, to capitalise on this aggregate advantage: drawing on the momentum of the country’s development to gain stable support, while leveraging an international platform to access global resources and achieve two-way interaction. Committed to firmly maintaining its strategic position as the nexus of domestic-international dual circulation, Hong Kong will make greater contributions in its roles as a super connector and super value-adder.

As the Chinese saying goes, “Victory is ensured when people pool their strength; success is secured when people put their heads together.” Hong Kong’s First Five-Year Plan is the fruit of the collective wisdom gained during our extensive consultation. The Hong Kong Special Administrative Region Government puts words into action. With a strategic vision for a bright new era that drives reform, boosts development, unleashes opportunities and enhances livelihood, we have formulated the 2026 Policy Address to launch wide-ranging policy measures and take forward the initiatives for the first year in line with our five-year strategic blueprint. I am confident that as long as we, each dedicated to our respective roles, join hands and work in synergy with one another, Hong Kong will certainly be able to set out on a path to a brighter and more prosperous future.

Finally, I wish our motherland and Hong Kong continuing prosperity and stability. May all of you enjoy good health and great success in every endeavour. Thank you very much.

This is a translation of Chief Executive John Lee’s speech delivered at the reception in celebration of the 77th Anniversary of the Founding of the People’s Republic of China on October 1.