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2026-09-16 11:47:55 Chief Executive John Lee announced Hong Kong's first Five-Year Plan, with 22 key performance indicators (KPIs) covering the areas of economy, innovation and technology, construction, livelihood and environmental protection. Only five are binding targets, of which four are related to environmental protection, while the remaining 17 are indicative targets. Key indicators include maintaining real GDP growth within a reasonable range by 2030, with annual targets to be proposed based on actual conditions. Total expenditure on local innovation activities as a share of GDP is targeted to reach 3% after 2030, compared with 1.63% in 2024. The share of value added by manufacturing and new industrial sectors in GDP is targeted to reach 5.5% after 2030, compared with 3.8% in 2024. Average annual value-added growth is expected to be around 10%. In addition, the Five-Year Plan stated that by 2030, Hong Kong will strengthen its leading position as a global financial center and a global cross-border wealth management center. As for the four major environmental protection-related indicators, they are classified as binding targets. Among them, carbon emissions per unit of GDP must be cumulatively reduced by 32.5% by 2030 compared with 2024; the proportion of zero-carbon energy in the fuel mix for electricity generation must increase from 25% in 2024 to 30%; the annual average concentration of fine suspended particulates in the atmosphere must decrease from 15 micrograms per cubic meter in 2025 to below 14 micrograms per cubic meter; and the overall compliance rate of Hong Kong surface water quality indicators must increase from above 88% to above 90%. ~ AASTOCKS Financial News Website: www.aastocks.com | |