Hong Kong to launch first five-year plan consultation on June 15

Financial Secretary Paul Chan said the two-month public consultation will center on growth and technology priorities, with AI+ and Finance+ as strategy pillars as stock turnover rises and new-economy firms account for about a quarter of market value.

Summary

Hong Kong will begin a two-month public consultation on its first five-year plan on June 15, marking a formal effort to map out the city's medium-term economic and social priorities. Financial Secretary Paul Chan said the plan is designed to strengthen economic growth, improve technology adoption, expand quality jobs and raise living standards. He identified "AI+" and "Finance+" as key strategic directions, underscoring a policy focus on combining artificial intelligence with broader economic development and reinforcing finance as a core pillar of the city's agenda. Chan also said average daily stock market turnover in the first five months exceeded HK$270 billion, up 14% from a year earlier, while new-economy firms accounted for about 25% of market capitalization.

Terms & Concepts
  • AI+: A strategy centered on applying artificial intelligence across sectors.
  • Finance+: A policy direction focused on expanding finance-linked development and innovation.
  • market capitalization: The total market value of a listed company's outstanding shares, or the combined value of companies in a market segment.