Unity Hong Kong Foundation: The local government has formulated a five-year plan reflecting a governance shift towards "efficient markets and a proactive government."

AASTOCKS
2026.02.03 01:03

Chief Executive John Lee revealed in a media interview that Hong Kong will formulate its first five-year plan to align with the national "14th Five-Year Plan." Ye Wenqi, Vice President of the Hong Kong Unity Fund and Executive Director of the Public Policy Institute, believes this reflects Hong Kong's shift from a governance culture of "big market, small government" to "efficient market, proactive government," in order to better integrate with the nation.

Ye stated that Hong Kong is developing its innovation and technology industry, which requires government leadership, investment, and long-term planning. He believes that the formulation of a five-year plan is also in line with the economic transformation, providing a more comprehensive plan for future development.

He also pointed out that if the five-year plan of the SAR government becomes a formal document and receives national support, even if it spans the current term of the SAR government, the overall direction of development will not deviate from the five-year plan, and only minor adjustments may be made.

Ye further believes that it is necessary for the Chief Executive to personally lead the task force, as many development directions involve multiple policy bureaus, and coordination can be improved under the Chief Executive's leadership