Chinese vice premier stresses Hong Kong's new development opportunities under 15th Five-Year Plan

Chinese Vice Premier He Lifeng has expressed full confidence that China's Hong Kong region will further consolidate and enhance its competitive advantages through its first five-year plan, drawn up in alignment with the country's 15th Five-Year Plan (2026-2030).

He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a video address to the Global Financial Leaders' Investment Summit, being held in the Hong Kong Special Administrative Region from November 2 to 4.

With the firm support of the central government, Hong Kong's momentum of advancing to prosperity has been steadily consolidated, and new notable progress has been made in economic and social development, He noted.

The country's 15th Five-Year Plan has made specific arrangements to support Hong Kong in consolidating and enhancing its competitive advantages and better integrating into and serving the country's overall development, he said.

Hong Kong, in alignment with the national plan, has formulated its first five-year plan, which will further build social consensus, stimulate innovation vitality and enhance development momentum, and help Hong Kong continuously consolidate its competitive advantages, He stated.

The vice premier expressed the hope that Hong Kong will give full play to the advantages of "one country, two systems" to build a freer and more open economic environment at a higher level.

Calling on Hong Kong to further consolidate the foundations of financial development and to consolidate and enhance its status as an international financial center, he also urged the region to continuously improve the effectiveness of financial support to promote high-quality economic and social development.

Noting that peace, development, cooperation and mutual benefit remain unshakable historical trends, the vice premier said that China will unswervingly expand high-standard opening up, and hopes that all parties will share the new opportunities brought by Chinese modernization and work together to make greater efforts for the prosperity and stability of the world economy.