China: First Five-Year Plan for Hong Kong: "From Chaos to Order and from Order to Prosperity"
Beijing is tying the internationally important stock exchange location even more closely to itself. Meanwhile, the Hong Kong government is trying to allay concerns and is emphasizing its capitalist orientation.
Hong Kong has introduced its first five-year plan, aligning its economic development with China's national plan. The plan, announced by Chief Executive John Lee Ka-chiu, aims to establish Hong Kong as a "super connector" between China and global markets, particularly for capital. The city's economic development priorities until 2030 will focus on strengthening its position as a financial hub, expanding its role in the Greater Bay Area, and developing technology.
The plan has raised concerns among experts that Hong Kong's economic freedoms may be curtailed, with Alicia Garcia-Herrero, chief economist at Natixis Bank, describing it as a signal that Hong Kong's industry policy is now closely tied to mainland China's.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
