Northern Metropolis and AI Key to Hong Kong's First Five-Year Plan, Business Groups Say
SCMP · 1 SOURCESabout 1 hour ago2 MIN
Summary
Major business chambers have urged Hong Kong's inaugural five-year plan to prioritise the Northern Metropolis mega development, strengthen the city's position as an international financial centre and advance its artificial intelligence strategy. The American Chamber of Commerce in Hong Kong (AmCham) and the Federation of Hong Kong Industries (FHKI) were among groups providing submissions for the city's first five-year development blueprint . More than 16,000 submissions were received by authorities before the public consultation closed on Friday . The blueprint, expected to be published in September, will set the direction for Hong Kong's development in alignment with China's 15th five-year plan covering the years 2026 to 2030 .
Key Points
- The Northern Metropolis, first announced in 2021, aims to transform approximately 30,000 hectares of land along the mainland Chinese border into an economic engine, housing hub and university town .
- The Federation of Hong Kong Industries stated that Northern Metropolis development over the next five years should be guided by industrial development, enterprise presence and employment outcomes .
- The American Chamber of Commerce called for a single statutory entity to streamline coordination and facilitate public-private partnerships, plus deeper Greater Bay Area wealth integration through expanded Wealth Management Connect quotas .
- The Federation of Hong Kong Industries recommended the plan first focus on life and health technology before driving broader AI adoption across sectors .
- The FHKI advised that the government help small and medium-sized enterprises transition from using AI to improve efficiency to using AI to create new value .
Why It Matters
The five-year plan represents a critical juncture for Hong Kong's economic trajectory, with the Northern Metropolis positioned as a transformative project that could reshape the city's spatial and industrial landscape . A coherent AI strategy could help Hong Kong maintain competitive advantage in financial services and attract new industries amid regional competition from the Greater Bay Area .
The five-year plan represents a critical juncture for Hong Kong's economic trajectory, with the Northern Metropolis positioned as a transformative project that could reshape the city's spatial and industrial landscape . A coherent AI strategy could help Hong Kong maintain competitive advantage in financial services and attract new industries amid regional competition from the Greater Bay Area .