Hong Kong to contribute in various areas under national 15th Five-Year Plan: HKSAR financial chief

Hong Kong will align more closely with China’s 15th Five-Year Plan and, for the first time, formulate its own five-year plan, Financial Secretary Paul Chan said Wednesday. The chief executive of the Hong Kong Special Administrative Region will lead a cross-departmental task force to coordinate the effort.

Chan said the national plan supports Hong Kong in strengthening its roles as an international financial, shipping and trade center, while advancing into an innovation and technology (I&T) hub and global talent center. He highlighted Hong Kong’s advantages in AI, life sciences, fintech, new materials and new energy, and said the city will pursue a “Finance+” model to integrate finance with innovation and industry.

To boost AI adoption, Chan will chair a new Committee on AI+ and Industry Development Strategy, focusing initially on life and health technology and embodied AI. The InnoHK Research Cluster has funded 16 AI and robotics labs, and a HK$3 billion AI Subsidy Scheme has approved about 30 R&D projects. A new Hong Kong Artificial Intelligence Research and Development Institute will begin operations later this year, while a major data facility at Sandy Ridge will expand computing capacity.

Chan added that Hong Kong will leverage its “One Country, Two Systems” framework to attract global talent, promote two-way investment, and expand AI use across public services and industries.

Credit : CGTN