Blueprint offers certainty, clarity: business groups

Local business representatives in Hong Kong have expressed approval for the city's first five-year plan, praising its strategic direction and the certainty it brings to a turbulent global environment. During the plan's announcement, Chief Executive John Lee emphasized the goal of solidifying Hong Kong's position as a global offshore renminbi hub, with a focus on developing a commodity trading ecosystem.

Business sector lawmaker Jonathan Lamport noted that the plan aligns with the national 15th five-year plan, providing investors and companies with a clear view of potential industries to explore.

The interconnected nature of the plan's initiatives was highlighted, with Lamport explaining that establishing a commodity and gold trading ecosystem would bolster physical warehouses in the Northern Metropolis. This, in turn, would promote Hong Kong as a "golden partner" for businesses looking to set up operations. Jacob Kam, chairman of the Hong Kong General Chamber of Commerce, characterized the plan as "forward-looking," citing its potential to drive economic growth through initiatives such as accelerating the Northern Metropolis, fostering tech innovation, and enhancing Hong Kong's financial core.

Additionally, the chamber called for increased public investment in yacht and marina infrastructure to bolster high-value marine tourism.

The Federation of Hong Kong Industries echoed these sentiments, stating that the five-year plan offers businesses a clearer understanding of the city's future industrial landscape. Notable directions proposed in the plan include accelerating the development of the Northern Metropolis, promoting new industrialization, advancing artificial intelligence applications, constructing a commodity trading ecosystem, and creating high-value-added supply chain services.

The federation's chairman, Anthony Lam, emphasized the chamber's commitment to identifying new growth drivers and collaborating with sectors to enhance Hong Kong's industrial competitiveness.