Hong Kong resisted rigid 5-year plan goals to allay planned economy fears: minister
Hong Kong refrained from setting overly rigid economic indicators in its first five-year plan to avoid fuelling concerns that it was moving towards a planned economy, according to the city’s constitutional affairs minister. The current priority should be hitting targets instead of dwelling on accountability mechanisms for potential shortcomings, Secretary for Constitutional and Mainland Affairs…
Hong Kong avoided setting overly rigid economic targets in its inaugural five-year plan to prevent concerns that it was transitioning to a planned economy, according to the city's constitutional affairs minister. The focus should remain on meeting targets without getting caught up in accountability measures, said Janice Tse Siu-wa.
The government is exploring administrative measures to protect same-sex couples' rights after a vetoed bill last year, though no timeline was provided. Tse emphasized that overly rigid indicators could damage Hong Kong's reputation as a free-market economy. Hong Kong's first five-year plan, unveiled last month by Chief Executive John Lee Ka-chiu, includes 22 major targets, with only five being binding.
The remaining 17 are anticipatory goals, such as achieving steady growth in GDP and imports and exports. Tse stressed that while long-term planning involves uncertainties, the government is committed to meeting the set goals. The administration will continuously review progress, policy priorities, and resource adequacy, rather than conducting only annual reviews.
Despite the lack of third-party reviews, feedback and criticism from various groups, including lawmakers and think tanks, already form a robust accountability system.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
