10 steps Hong Kong can take to make the most of its 5-year plan

Recent China-US summits notwithstanding, great-power rivalry is likely to remain for a fairly long time, fragmenting trade, technological flows, supply chains and geopolitics. However, opportunities are opening up for cutting-edge technologies and closer relations with the larger world, including Europe and the Global South.

The 15th five-year plan focuses on high-quality development with moderate but stable growth; technological self-reliance and industrial upgrading; economic rebalancing towards domestic consumption; expansion of smart grids and new energy systems; securing critical supply chains; managing geopolitical volatility; and institutionalising long-term national security.

The plan is advancing towards an important milestone: realising the nation’s second centenary goal of building “a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious” by 2049.

Under “one country, two systems”, Hong Kong has an invaluable part to play not only as a “superconnector” but also as a global haven for finance, technology, academic and scientific research, culture, events, East-meets-West lifestyle and more. Here are 10 concrete steps the city can take.