Hong Kong Unveils First 2026-2030 Five-Year Plan as It Targets 3% R&D Spending
Updated
Updated · Yahoo! Voices · Sep 16
Hong Kong Unveils First 2026-2030 Five-Year Plan as It Targets 3% R&D Spending
3 articles · Updated · Yahoo! Voices · Sep 16
Summary
John Lee used his annual policy address to launch Hong Kong’s first Beijing-style five-year plan, setting a 2026-2030 roadmap to diversify the economy and align more closely with China’s development goals.
3% of economic output is the target for innovation spending after 2030, with artificial intelligence, robotics and health technology named as priority sectors alongside a push to expand higher education.
Northern Metropolis near Shenzhen is a centerpiece of the plan, with faster development promised and three university campuses planned in the border zone first announced in 2021.
Lee said the plan is “not a planned economy” and the government insisted Hong Kong’s capitalist system will remain intact, even as critics warn stronger state direction could erode the city’s economic flexibility.
1997 marked Hong Kong’s return to China, but Beijing’s influence has deepened sharply since the 2019 protests, giving the new planning model broader political significance beyond economic policy.