Author: MIL-OSI Publisher

Source: Hong Kong Information Services

Major development initiatives were unveiled today in Chief Executive John Lee’s Policy Address to expedite the development of the Northern Metropolis (NM).

Noting the development of the NM is well underway, Mr Lee elaborated today that construction works have begun at four new development areas while site formation work for the site in Ngau Tam Mei will start next year. As for the remaining four new development areas, statutory planning and related procedures will begin in the coming year.

The Government will continue to streamline procedures, including using a digital platform to shorten the approval time for works projects by three to six months, reducing the time for the first approval for building plans of new railway projects by half to 30 days, and optimising foundation designs to save about $1.4 billion in the construction costs of NM public housing.

Furthermore, the Government will expand the application scope of the Hong Kong Environmental Database by optimising planning with artificial intelligence to reduce the time needed for the environmental impact assessment (EIA) process to about 15 to 24 months from about 36 to 48 months. For NM-related projects, the time needed for the EIA process will be targeted at about 15 to 20 months.

The Government will introduce an amendment bill into the Legislative Council by year-end, providing preferential tax rates of 5%, or half-rate, for selected enterprises operating in key sectors such as finance, advanced manufacturing, innovation and technology (I&T), as well as research and development (R&D), headquarters activities, and logistics and supply chain management.

At the back of the layout, three university towns exceeding 1,000 hectares will be developed in San Tin, Hung Shui Kiu and Ta Kwu Ling under “One Town, Five Elements” framework, covering education, technology, industry, talent, and urban development.

Construction of Building 1 of the Loop Hong Kong Park at San Tin University Town is scheduled for completion by year-end, with applications for Hung Shui Kiu campus construction opening within this year. An upgraded committee led by the Chief Secretary will steer research outcome transformations.

To dovetail with the development of the NM University Towns, the Government will expand the capacity of post-secondary. Measures include increasing UGC-funded research postgraduate places by around 30% to 9,600 by 2030-31 academic year, boosting Hong Kong PhD Fellowship Scheme quotas from 400 to 550 from 2027-28 to 2029-30 academic years, and adding $20 million annually for knowledge transfer starting 2027-28 academic year.

Visit Chapter V of the Chief Executive’s Policy Address for more details.

Source: Hong Kong Information Services

Chief Executive John Lee today outlined specific measures in his Policy Address to reinforce Hong Kong’s strategic position, concentrating heavily on driving the city’s growth as an innovation and technology (I&T) centre and an international education hub under the framework of the “Four Centres and One Hub”.

To develop Hong Kong into an international I&T centre, the Government will establish a new Task Group on Frontier Technology.

The administration is taking comprehensive action to co-ordinate the application and risk governance of artificial intelligence (AI) by appointing a Commissioner for AI, promoting AI adoption across key sectors and implementing a seven-point risk-governance strategy.

In aerospace, a new Special Call on Aerospace Technology will support national space missions.

Additionally, the United Nations Industrial Development Organization will establish its first Asia-Pacific centre of excellence on global advanced manufacturing in Hong Kong by the second quarter of next year.

To drive growth of the low-altitude economy, an Action Plan will launch cross-boundary logistics trial flights and initiate drafting legislation for heavy unconventional aircraft.

In parallel, the Government is deepening the development of Hong Kong as an international education hub to power the city’s talent ecosystem.

To support non-local talent retention, the pilot arrangement allowing graduates from the GBA campuses of Hong Kong universities to seek employment in Hong Kong under the Immigration Arrangements for Non-local Graduates will be extended for two years.

The administration is also actively expanding student accommodation by putting the first dedicated student hostel site up for sale within this financial year and supporting the Hong Kong Direct Subsidy Scheme Schools Council to formulate a Code of Practice for Operating Student Hostels.

Furthermore, sites in the Northern Metropolis or other areas will be allocated next year for international school development.

Visit Chapter III of the Chief Executive’s Policy Address for more details.

Source: Hong Kong Information Services

Delivering his 2026 Policy Address this morning, Chief Executive John Lee outlined various measures to strengthen Hong Kong’s “four centres”, or the city’s development as an international finance, maritime and aviation, trading, and innovation and technology centre.

Key initiatives include developing a commodity trading system, strengthening high value-added maritime services, fostering the development of the sustainable aviation fuel (SAF) industry, and building a high value-added supply chain services centre.

Financial centre

Regarding the city’s diversified development as an international financial centre, Mr Lee said Hong Kong would aim to consolidate the leading positions of its stock market, deepen its presence in areas such as bonds, specialty insurance and Renminbi (RMB) business and make forward plans for emerging sectors such as tokenised products.

In terms of RMB business, the Hong Kong Monetary Authority is exploring enhancements to the currency swap agreement with the People’s Bank of China, as well as arrangements for direct exchanges between offshore RMB and other currencies.

On bonds, connectivity will be strengthened between the Central Moneymarkets Unit and markets in Europe and America, the Middle East, Central Asia and the Association of South East Asian Nations. Meanwhile, a consultation will be held on streamlining prospectus disclosure requirements to facilitate the listing of quality overseas enterprises in Hong Kong, and tests will be conducted on the tokenisation of Exchange Fund Bills.

Mr Lee also highlighted that specialty insurance – covering gold storage, commodity trading, green-fuel bunkering and more – will be developed to meet the needs of emerging industries.

In terms of the development of commodity trading, the Government will implement a half-rate tax concession for physical commodity trading, and will explore the provision of tax concessions for qualifying activities within the gold and commodity trading ecosystem.

Aiming to expedite the development of an international gold trading market, Hong Kong Exchanges & Clearing will announce details of new RMB-denominated and physically settled gold futures contracts.

Meanwhile, a Joint Working Group on Commodity Trading will be established to identify market opportunities and prospects for cross-exchange collaboration.

Maritime centre and aviation hub

In relation to Hong Kong’s development as an international maritime centre, the development focus will further shift from traditional port logistics to leveraging the city’s advantages in high value-added maritime services, covering areas such as ship management, ship leasing, ship finance, marine insurance, and maritime law and arbitration.

Mr Lee said the Government will announce plans later this year to develop a Hong Kong-centric “Green Energy Corridor” in collaboration with a Mainland city. Furthermore, it will establish a clear and transparent carbon-emissions calculation framework for the bunkering and trading of green maritime fuels, drive the expansion of underwriting capacity in the industry’s marine specialty risk pool.

Support will also be given to the development of onshore power-supply facilities, exploring port dues incentives to attract international liners, and the establishment of a maritime academy in Hong Kong.

Meanwhile, in terms of Hong Kong’s status as an international aviation hub, Mr Lee outlined efforts to foster the development of the SAF industry. He said the Government has spearheaded the establishment of a world‑leading SAF production base in Dongguan, which will begin production by 2030, and plans to construct an SAF blending facility in Hong Kong.

The Government is also studying the establishment of a mandatory consumption‑ratio mechanism and the development of a green energy certification system to boost Hong Kong’s green energy value chain and maintain a long‑term supply of competitive SAF.

Trade centre

Vowing to consolidate Hong Kong’s role as an international trade centre and build a high value-added supply chain services centre, Mr Lee said the Government would deepen the work of the Task Force on Supporting Mainland Enterprises in Going Global.

A bill is to be introduced in the Legislative Council to provide pre-approved Corporate Treasury Centres and their associated companies with additional flexibility and tax benefits. Meanwhile, digital trade will be promoted in a bill facilitating the digitalisation of “business-to-business” trade documents.

Mr Lee added that a “Task Force on High Quality Development of Textile and Fashion Industry” will be established, to be led by the Secretary for Commerce & Economic Development.

Visit Chapter III of the Chief Executive’s Policy Address for more details.

Source: Hong Kong Information Services

Chief Executive John Lee today outlined comprehensive policy blueprints to resolve the housing issue, provide targeted livelihood support and realise a green transformation in Hong Kong’s First Five-Year Plan.

The Government will eradicate substandard subdivided units in an orderly manner by pressing ahead with the Basic Housing Unit regime, aiming to resolve the issue of substandard units in residential buildings by 2030.

Public housing supply will substantially increase, reaching around 196,000 units from 2026-27 to 2030-31 when accounting for Light Public Housing, reducing the Composite Waiting Time for Subsidised Rental Housing to less than four years in 2030-31.

The housing ladder will be further enhanced by increasing subsidised sale flat supply and refining sale and resale arrangements to support young people, public rental housing residents, and different income groups in achieving home ownership. Concurrently, the Urban Renewal Authority will commit at least around $40 billion over the next five years for urban renewal initiatives.

Addressing livelihood protection, the First Five-Year Plan states that the administration will promote data-driven proactive support to shift from a “reactive response” towards “proactive identification and targeted support”, exploring a “welfare information sharing e-platform” and institutionalising tripartite collaboration among the Government, the business sector and the community.

Support measures will focus on strengthening the child protection system, enhancing elderly care service capacity, encouraging social integration of the elderly, and expanding cross-boundary elderly care support measures.

The Government will also offer targeted support for individuals with disabilities and their caregivers, while harnessing innovation and technology to enhance employment services and safeguard labour rights.

On green transformation and the strengthening of ecological protection, the Government will optimise the energy mix by increasing zero-carbon energy use to ensure energy security and stable electricity tariffs, while promoting green transport to achieve zero vehicular emissions before 2050.

The First Five-Year Plan adds that Hong Kong will move away from reliance on landfill disposal of municipal solid waste by 2035 by enhancing recycling and waste-to-energy networks.

Efforts to realise green transformation also include developing green technologies, establishing a green and low-carbon hydrogen certification system that connects with Mainland and global standards, while expanding ecological conservation co-operation with Mainland provinces and municipalities to protect wild fauna, flora and endangered species.

View Part 5 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Hong Kong has set out a roadmap to become an international Innovation and Technology (I&T) centre and a hub for high-calibre talent, as Chief Executive John Lee unveiled the city’s First Five-Year Plan. 

Capitalising on the basic scientific research capabilities of five local universities ranked among the world’s top 100, the plan focuses on advancing international frontier technologies and deepening systemic I&T reforms.

At the heart of this transformation is a new “north-central-south” spatial layout anchored by three major tech hubs: the Hong Kong Park area of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone and the San Tin Technopole in the north, the Science Park in the central region, and Cyberport in the south. The city is going full steam ahead with the development of these three major I&T parks.

The plan also states that it will accelerate the development of five key research and development (R&D) institutions – the Hong Kong Productivity Council, the Hong Kong Applied Science & Technology Research Institute, and newly established institutes for microelectronics, artificial intelligence, and life and health technology. 

These bodies will work alongside the “dual base” of State Key Laboratories in Hong Kong and InnoHK research clusters.

To advance new industrialisation, the government will support traditional industries to upgrade and transform while prioritising strategic emerging sectors like the aerospace and marine economies. Preparations are also underway for future industries, including quantum technology and embodied intelligence. 

The Government will promote artificial intelligence (AI) as a core industry for Hong Kong’s future development and empower different sectors of the economy through AI technology. It will enhance the AI ecosystem in multiple dimensions and continue to take forward the AI+ Initiative on all fronts.

According to the plan, Hong Kong is also positioning itself as an international health and medical innovation hub. The Government will reform the regulatory regime for medical products by establishing the Centre for Medical Products Regulation and implementing a “primary evaluation” system by 2030. 

Furthermore, a comprehensive clinical trial infrastructure and digital portal will be built and the Government will fully implement the interfacing of clinical trial resources between Hong Kong and Shenzhen.

To sustain this growth, Hong Kong is solidifying its global reach and talent pipeline.

The Government will promote the “Study in Hong Kong” brand, update the Talent List, and promote the integrated development of education, technology and talent to enhance the city’s capabilities in nurturing and attracting high-calibre talent. 

Visit Part 2 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Hong Kong will play an active role in advancing the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to develop a first-class, international bay area by leveraging its strong connections with the Mainland.

Introducing the city’s First Five-Year Plan, Chief Executive John Lee today highlighted that the GBA serves as a strategic fulcrum of the country’s new development paradigm, demonstrating high-quality development while pioneering Chinese modernisation.

Hong Kong’s participation in the GBA’s development will help to elevate the region into a first-class bay area with international influence. Through the “high-end research and development advanced manufacturing-modern services” collaboration model, the city will develop an innovation and technology industry chain.

Under the Five-Year Plan, Hong Kong will continue to promote the “hard connectivity” of infrastructure by advancing cross-boundary railway projects and promoting the interconnectivity of computing infrastructure with other GBA cities, thereby expediting the formation of large intelligent computing clusters.

The city will facilitate the mutual recognition of professional qualifications in the GBA and align healthcare services and regulatory frameworks in the area. It will also enhance the mutual capital market access mechanism and facilitate the flow of personnel, materials, capital and data.

The plan also pledges to strengthen cooperation between Hong Kong’s higher education institutions and those in the GBA cities, and the Residential Care Services Scheme in Guangdong will be expanded.

The city will also create an international collaboration network. This co-operative alliance will deepen regional collaboration with the Mainland, as well as international co-operation and exchanges.

Guided by the Five-Year Plan, Hong Kong will actively participate in the work of international organisations, promote Chinese standards and deepen participation in high-quality Belt & Road cooperation.

Visit Part 4 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Development across the Northern Metropolis (NM) will spearhead Hong Kong’s spatial layout optimisation, anchoring Chief Executive John Lee’s First Five-Year Plan announced today with a focus on education, technology and economic expansion.

The blueprint expands the area of the three University Towns – San Tin, Hung Shui Kiu and Ta Kwu Ling – to over 1,000 hectares to form an area for talent development.

Guided by the “One Town, Five Elements” layout, the university towns integrate education, technology, industry, talent and urban development. Campus areas spanning 300 hectares will connect directly to adjacent strategic industry areas, distinctive conservation areas, recreational and cultural facilities and surrounding living communities.

According to the Plan, San Tin University Town is positioned to focus on medicine, life and health technology, artificial intelligence (AI), robotics, microelectronics and emerging industries. Construction will commence on the medical school of The Hong Kong University of Science & Technology alongside an integrated medical teaching and research hospital.

Hung Shui Kiu University Town will serve as a cultivation centre for smart manufacturing, applied post-secondary education and internationalised talent, with campus site allocations commencing in 2026 and post-secondary institutions moving in between 2027 and 2028.

Ta Kwu Ling University Town, meanwhile, will incorporate arts and blue-green development elements while reserving strategic space for future needs. Sites will be made available progressively from 2030 onwards to support the development of emerging industries, advanced construction industries, traditional industries and new industries.

To build a technology-driven industry-academia-research collaborative innovation system, the Government will expedite the development of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone under the vision of “one river, two banks” and “one zone, two parks”. Spatial layout, planning coordination and infrastructure connectivity between the Hong Kong and Shenzhen Parks will be aligned to facilitate the secure, efficient and convenient flow of personnel, materials, capital and data.

Additionally, the San Tin Technopole, the Sandy Ridge Data Facility Cluster, the Hung Shui Kiu Industry Park and modern logistics cluster, the Lau Fau Shan Digital Technology Hub, the Advanced Construction Industrial Park in Yuen Long South will form a platform for diversified industry development, and the Ta Kwu Ling New Development Area will serve as a base for emerging industries.

Land supply initiatives will make available about 900 hectares of “spade-ready sites” from 2026-27 to 2030-31, enabling the provision of over 70,000 housing units and 1 million square metres of economic floor space.

The Government will enact the Northern Metropolis Development Ordinance and its subsidiary legislation to streamline control throughout the development process and expedite bringing in industries.

On the transport front, infrastructure will press full steam ahead under the “Eight Vertical and Eight Horizontal Corridors” layout. Priority projects include the Northern Link Spur Line, the Hong Kong section of the Hong Kong-Shenzhen Western Rail Link, the Northern Metropolis Highway (San Tin Section), and the Tsing Lung Bridge at the Southern end of Route 11.

Railway accessibility will expand as Kwu Tung Station on the East Rail Line and Hung Shui Kiu Station on the Tuen Ma Line commence operation in 2027 and 2030, respectively.

Visit Part 3 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Chief Executive John Lee announced today that, as part of Hong Kong’s First Five-Year Plan, the city will consolidate and enhance its status as an international financial, maritime and trade centre and as an international aviation hub.

He said the policy of “four centres and one hub” will be advanced at full steam to sharpen Hong Kong’s competitive edge and drive its economic development. 

International finance

Under the Five-Year Plan, Hong Kong’s open financial markets will be leveraged to attract global capital, talent, and financial enterprises, thereby strengthening the city’s position as an international financial centre. 

Hong Kong’s role as a global offshore renminbi (RMB) business hub will be bolstered by refining the RMB Business Facility, expanding product supply in the offshore RMB market, promoting the use of RMB for pricing, settlement, and investment purposes, and supporting the wider use of RMB in cross-boundary business. 

Meanwhile, the city’s function as a world-leading cross-boundary wealth management centre will be reinforced through the provision of quality services for global sovereign wealth funds and family offices. Simultaneously, its role as an international risk management centre will be advanced by deepening regulatory co-operation with the Mainland and overseas markets while advancing synergy between traditional insurance and non-traditional risk management tools. 

The plan also pledges to enhance the competitiveness of Hong Kong’s listing regime and the operating efficiency of its securities market infrastructure, broaden the mutual access mechanism, and expedite the commercialisation, internationalisation and modernisation of the Central Moneymarkets Unit. 

A commodity trading ecosystem with gold as an entry point will be built by developing a clearing system, storage capacity, supply and infrastructure related to gold trading, as well as fostering innovation in commodity trading in the offshore RMB market. 

In addition, the Government will take forward its “Finance+” strategy to serve the real economy in areas such as innovation and technology, trade, green development, intellectual property, the maritime sector, and livelihoods.

Trade centre

The city’s status as international trade centre will also be strengthened, with Hong Kong continuing to uphold free trade, maintain its zero tariff approach, and support the rules-based multilateral trading system. 

Mr Lee said a high value-added supply chain services system will be developed, leveraging the Task Force on Supporting Mainland Enterprises in Going Global, so as to support Mainland enterprises in their international expansion. 

Hong Kong will also continue to pursue the comprehensive upgrading of the Closer Economic Partnership Arrangement (CEPA) between the Mainland and Hong Kong in order to achieve the expansion of access to Mainland markets. 

Maritime development

In the maritime sector, Hong Kong will seek to stabilise its container throughput, add value, and strengthen synergy. It will drive a “volume to value” transformation of the Hong Kong Port, advance the industry’s digitalisation, smart transition, and green transformation, and deepen co-operation with Mainland and international shipping ports. 

Moreover, the city will develop a high value-added maritime services ecosystem through leveraging and upgrading its existing strength in such services and reforming the ship registration regime. 

Aviation hub

Under the Five-Year Plan, Hong Kong will also engage deeply in the development of the national aviation network, enhance the Guangdong-Hong Kong-Macao Greater Bay Area’s intermodal network, and actively integrate into the country’s “one circle, six corridors, and five channels” framework. The city will continue to launch new routes, and to expand its aviation partnership network with the Belt & Road Initiative countries. 

At the same time, an aircraft parts processing and trading industry ecosystem will be developed, and Hong Kong will aim to achieve a Sustainable Aviation Fuel consumption ratio of 1% to 3% for flights departing from Hong Kong International Airport in 2030. The city will also be developed as the Asia-Pacific region’s hub for innovative low-altitude applications.

Visit Part 2 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Chief Executive John Lee today emphasised that security is the prerequisite for development and that development reinforces security as he announced Hong Kong’s First Five-Year Plan.

 

Under the blueprint, public governance will be enhanced by driving a shift towards a prevention-based model to bolster the resilience of the economy and society. Various initiatives will be spearheaded to improve security and efficiency through a reform-oriented mindset, he said.

As part of the effort to build an efficient government, digital evolution and smart transformation of public administration will be expedited. To achieve this, technology will be leveraged to boost the efficiency of law enforcement agencies through the use of data analytics to improve surveillance to combat problems such as the abuse of public rental housing.

A wider adoption of the “digital-first” principle in government will be promoted in procedures and work flows, while digital identity functions and one-stop e-services powered by “IAM Smart” and the Digital Corporate Identity Platform will be expanded.

Meanwhile, the civil service training management system will be improved to entrench a people-oriented ethos. This will include improvements to the civil service performance appraisal system to ensure fairness in handing out rewards and punishment.

Additionally, under the plan, Hong Kong’s disaster prevention, mitigation and response capabilities will be strengthened. Efforts will be made to integrate the city management system, connecting city management data from different departments. By using technologies such as AI, big data and the Internet of Things for inter-departmental data sharing, real-time analysis, risk alerts, instant predictions and management synergies, the city’s resilience can be further enhanced.

Furthermore, under the holistic national security approach, Hong Kong’s institutions, legal system and enforcement mechanisms will be further strengthened to safeguard national security.

Mr Lee emphasised that the Policy Address delivered by the Chief Executive will serve as an annual work plan for implementing the Five-Year Plan. The Budget provides solid resource support for the implementation of the Five-Year Plan and the annual Policy Address.

The Chief Executive will report to the President of the People’s Republic of China and the Central Government on the implementation of the Five-Year Plan in the context of the annual duty visit. The implementation of the Five-Year Plan will be monitored, assessed and checked regularly, with mid-term adjustments to be made in light of actual circumstances.

Visit Part 6 and Part 7 of Hong Kong’s First Five-Year Plan for more details.

Source: Hong Kong Information Services

Hong Kong will strive to leverage its advantages as an international city and strengthen its global competitiveness under its first Five-Year Plan.

Announcing the plan, Chief Executive John Lee outlined that it will steer a high-end and high-value-added transformation in the city’s service sector, enable the assembly of high-end resources and talent, and drive the integrated development of industries.

A key area of focus will be the city’s development as an international legal and dispute resolution services centre. Under the plan, Hong Kong will leverage its unique advantages as a common law jurisdiction to develop as a hub for high-calibre legal talent, promote the closer interface of rules and mechanisms safeguarding the rule of law across the Greater Bay Area, and work with the International Organization for Mediation to further its role, thereby reinforcing Hong Kong’s status as a global mediation capital.

Efforts will also be made to develop Hong Kong as a regional intellectual property (IP) trading centre. Besides enhancing IP protection mechanisms in alignment with international rules, reforms to the patent system will be deepened, with a view to fostering innovation and providing more effective support for technology transformation, and for the commercialisation, and industrialisation of research and development (R&D) outcomes.

A thriving IP trading ecosystem will be developed, meanwhile, through exploring IP financing modes, so as to channel capital into IP-intensive areas such as innovation and technology (I&T) and the cultural and creative industries.

The five-year plan also covers Hong Kong’s development as an East-meets-West centre for international cultural exchange.

The city will develop diverse arts, culture and creative industries, as well as the ecosystem to sustain them. It will also drive wider participation in sports, develop elite sports, maintain Hong Kong’s status as a centre for major international sports events, enhance professionalism in sports in the city, and develop sports as an industry.

Furthermore, it will deepen the integrated development of culture, sports, and tourism, and enrich the supply of high-quality tourism products, while bolstering infrastructure and ancillary facilities. Hong Kong will develop a core demonstration zone for multi-destination tourism and facilitate visitors’ extension of their itineraries to the Greater Bay Area and other provinces and municipalities.

Visit Part 2 of Hong Kong’s First Five-Year Plan for more details.