The 15th Five-Year Plan provides a greater chance for development to China's Hong Kong Special Administrative Region (HKSAR), which can also play four significant roles in developing itself and integrating into the country with synchronized efforts, said Tu Haiming, a Hong Kong member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

Tu, the vice chairman of the Committee on Liaison with Hong Kong, Macao, Taiwan and Overseas Chinese of the CPPCC, made the remarks on Wednesday at the third Members' Corridor of the fourth session of the 14th CPPCC National Committee.

Tu explained the four roles that the HKSAR can play as follows:

First, it can be the starting point for mainland enterprises to go global. HKSAR is familiar with the international market. Chinese mainland enterprises can register companies in HKSAR and join hands with local enterprises to go far.

In this regard, Tu highlighted that as many as 94% of 119 companies that went public in the HKSAR last year are from the Chinese mainland. The total funds raised from new listings reached HK$ 285.8 billion, ranking first in the world, he added.

Second, it can act as a powerful engine for industrial innovation. As the world's third-largest international financial center, the HKSAR can inject more financial resources into the development of new quality productive forces for domestic enterprises.

Third, it can be a bridge for institutional innovation. Rules, regulations and management standards of the HKSAR are aligned with those of the Chinese mainland, enabling it to contribute to the country's high-standard opening-up and institutional opening-up in the next stage.

Fourth, it can be a booster of green products. Many green products and projects from the HKSAR are far ahead internationally, providing low-cost international funding for more green projects in the country.

In aligning with the 15th Five-Year Plan, the HKSAR has no time to lose and is duty-bound to better integrate into the overall national development, Tu stressed.