HK's first 5-Year Plan adopts 'future-to-present' perspective

Financial Secretary Paul Chan says Hong Kong's first Five-Year Plan adopts a "future-to-present' perspective, transforming a vision into verifiable indicators and action plans.

As Hong Kong releases its first Five-Year Plan, Financial Secretary Paul Chan states on his blog that a volatile external environment increases the market's need for multi-year certainty.

He says with the plan's targets and timelines, companies can see the city's direction over the next five years and align their plans with the government's, demonstrating the combined power of a "capable government and efficient market."

The Plan also specifies the Northern Metropolis produces 900 hectares of formed land in five years.

Chan points out space is only the starting point, and industry remains the key.

Over 100 innovation and technology enterprises and institutions already station in the Hetao Hong Kong Park. Two wet laboratory buildings are fully leased.

Hetao focuses on research and development, while the San Tin Technopole focuses on mid-stream testing and mass production. And The Sandy Ridge Data Facility Cluster provides computing power.

The Hung Shui Kiu industrial park also engages in substantive discussions with enterprises in advanced construction, testing, and certification.

Chan describes the parks as well-positioned with everything from R&D to mass production and the market.

Chan also notes Hong Kong experienced ups and downs since the handover, and overcoming challenges requires long-term vision and persistent effort.

He says first Chief Executive Tung Chee-hwa, left many development directions with great long-term strategic value, and time has proven his foresight.