Hong Kong Shifts Economic Policy with New Five Year Plan – AsatuNews.co.id


Satu Berita Banyak Persepektif
Chief Executive John Lee Ka-chiu announced on April 19, 2026, that Hong Kong is drafting its first-ever five-year plan to transition from minimal intervention toward a state-led economic model focused on technology and talent integration.
This strategic shift involves all policy bureaus and is being led by veteran civil servant Janice Tse Siu-wah to align the city’s growth with mainland China’s development strategies. The government has already allocated HK$112 billion for education in the 2026-27 period to support this transformation.
Addressing the International Talent Forum, Chief Executive John Lee emphasized the city’s ambition to remain a global leader through comprehensive technological advancement and regional cooperation.
“AI has been augmenting manpower. The biggest challenge today with these technologies is not the destruction of old jobs—it’s more the transformation of practically every job that we have in society. Workers are upskilling more now than in any other industrial revolution of the past,” stated Nobel laureate Sir Christopher Pissarides.
Secretary for Labour and Welfare Chris Sun noted that Hong Kong’s unique advantage lies in its role as a gateway to the mainland market under the “One Country, Two Systems” principle.
“Through the activities of this year’s summit, the government believes that stakeholders can gain deeper insights into future development trends. At the same time, a clear message is being sent to global talent that with the strong support of the motherland and its own unique advantages, Hong Kong is the best place for career development,” said Chris Sun, Secretary for Labour and Welfare.
Sun explained that the dual access to both international and Chinese markets remains a competitive edge that is difficult for other global hubs to replicate.
“By coming to Hong Kong, you tap into both the world and the Chinese mainland market. That dual access remains difficult to replicate elsewhere,” explained Sun.
To combat an aging population, the government reported that nearly 280,000 professionals have arrived in the city as of late February 2026 via various admission measures like the Top Talent Pass Scheme (TTPS).
“We need young, vibrant professionals to come to Hong Kong to fill the gap and keep the economy growing,” said Sun.
Secretary for Education Dr. Choi Yuk-lin detailed the financial commitment to this new model during a Legislative Council Finance Committee meeting on April 16.
“Education is the key to nurturing talent. To proactively align with the National 15th Five-Year Plan, the Government of the Hong Kong Special Administrative Region (HKSAR) strives to develop Hong Kong into an international hub for education and high-calibre talent, and promote the integrated development of education, technology and talent, thereby contributing to the building of a leading country in education,” stated Dr. Choi Yuk-lin, Secretary for Education.
The government is earmarking HK$10 billion for loans to develop university campuses in the Northern Metropolis and has set aside HK$2 billion for digital education in primary and secondary schools.

source