Hong Kong has unveiled the Hong Kong Special Administrative Region's first Five-Year Plan for Economic and Social Development for 2026-2030, setting out the city's strategic direction for economic and social development over the medium to long term. This was announced by Hong Kong Chief Executive John Lee on 16 September.
The plan seeks to boost the city’s four established centres in finance, trade, maritime and aviation, while accelerating its development as an international innovation and technology centre and a hub for high-calibre talent. It also identifies the Northern Metropolis and Greater Bay Area (GBA) integration as key areas of development. Mr Lee said the plan would serve as an action agenda for Hong Kong to capitalise on national and international opportunities while enhancing social well-being. “This inaugural Five-Year Plan for Hong Kong is of monumental significance,” he said.
One of the main features of the plan is strengthening Hong Kong’s position as an international risk management centre through the development of insurance-linked securities, captive insurance and a marine specialty risk pool. The Government will also seek to attract long-term capital investment to the Northern Metropolis by lowering capital requirements for eligible infrastructure investments by year-end. Other initiatives include developing a “Finance + Maritime” ecosystem covering maritime finance, insurance and trade finance, as well as expediting the development of protection and indemnity clubs and promoting maritime insurance training.
The Hong Kong Federation of Insurers (HKFI) welcomed the First Five-Year Plan and 2026 Policy Address, saying many of the Government’s measures are aligned with its recommendations. The federation highlighted initiatives to strengthen Hong Kong as an international reinsurance hub, including the introduction of a protected cell company structure to lower the costs of establishing captive insurers and issuing insurance-linked securities. It also welcomed plans to support Mainland enterprises going global through specialty insurance solutions, expand cross-boundary insurance products and enhance connectivity between Hong Kong and Mainland insurance markets.
Bupa Hong Kong also welcomed the Five-Year Plan and healthcare initiatives in the Policy Address, particularly the focus on primary healthcare, prevention, population health management, digital health, healthy ageing, GBA cross-boundary healthcare integration and Chinese medicine development.
Bupa said the ageing population and rising prevalence of chronic conditions create an opportunity to strengthen prevention, early intervention and primary healthcare, adding that healthcare should go beyond treating illness to empowering people throughout their health journey.
“We also recognise that strong public-private collaboration and leveraging GBA healthcare resources will be essential to meeting Hong Kong's evolving health needs, improving hospital services and alleviating pressure on the public healthcare system,” Bupa said, adding that it looks forward to working with the Government and healthcare partners to support Hong Kong’s long-term development and help people “live longer, healthier, and happier lives”.