15th five-year plan presents ‘golden strategic period’ for Hong Kong: Paul Chan Hong Kong’s financial chief has vowed to serve the nation and seize opportunities from the newly unveiled 15th five-year development plan, calling it a “golden strategic period” with great potential amid escalating geopolitics. Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong would adopt “Artificial Intelligence+” and “Finance+” approaches to support mainland China’s development plan for 2026 to 2030. Beijing on Thursday revealed the sweeping blueprint during the annual “two sessions” meetings, amid escalating US-Israel strikes on Iran that have spiralled into a broader Middle East conflict. Chan said the turbulent geopolitical landscape had been a drag on global economic growth momentum, but the central government’s leadership, stable internal policies and technology innovation offered hope. “The 15th five-year plan has provided a clear direction for Hong Kong’s future development and further strengthens the confidence of all sectors of society,” he said in his weekly blog post. “The 15th five-year plan presents boundless opportunities, and Hong Kong has much to offer. Moving forward, we need everyone to work together to better integrate into and serve the overall development of the country, thereby bettering our own growth.” The nation’s blueprint tasked Hong Kong with further integrating into the country and serving in its role as an international financial hub, strengthening offshore renminbi business and supply chain services, speeding up the Northern Metropolis megaproject and more. It also reaffirms Beijing’s commitment to consolidating Hong Kong’s status as a hub for finance, shipping, trade and aviation. Chan said the government budget he released on February 25 took into consideration the macro development direction of the nation’s previous and current five-year plans. Two key themes of the budget were AI+ and Finance+, strategies to enhance Hong Kong’s overall economic upgrade and better serve the country’s development. “Specifically, key focus areas will include fundraising and financing for tech start-ups, the development of patient capital, strengthening our position as an offshore yuan hub, advancing green finance, and building an ecosystem for gold and commodities trading,” he said of Hong Kong’s role in the 15th five-year blueprint. Chan said Hong Kong – with the backing of the country and an international network – was being presented with a golden strategic period and ample potential under the 15th five-year plan. He said the city would push ahead with its first-ever five-year development road map to align with the nation’s. “Hong Kong could make use of our advantages in internationalised innovation platforms, professional services and capital markets to introduce global innovative resources for the country, while injecting new vitality into the local economy,” Chan said. In the budget speech, Chan announced a slew of measures to enhance AI literacy at all levels of society, including setting aside HK$50 million (US$6.4 million) to help public organisations, tech enterprises and tertiary institutions set up AI application courses, seminars and competitions. “These initiatives not only respond to the national ‘AI+’ action plan and its strategic deployment but also represent a critical layout for Hong Kong to seize the initiative in future technological competition and cultivate new quality productive forces,” he said. “At the same time, these measures aim to empower employees to better adapt to and capture new job opportunities emerging from ‘AI+’ developments, with the hope of achieving a close integration of investing in physical assets and investing in people.” Gary Ng Cheuk-yan, a senior economist at Natixis Corporate and Investment Bank, said Hong Kong’s strength as a financial centre could help it capture opportunities under the blueprint, particularly in linking global capital with the mainland. “Hong Kong’s role in finance is built on free capital flows and low taxes,” he said, adding the city had an advantage in bridging Chinese and international investment and offering yuan opportunities. But he cautioned that innovation remained challenging. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345866/15th-five-year-plan-presents-golden-strategic-period-hong-kong-paul-chan?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post