Hannah Ha, Commercial Managing Partner at Johnson Stokes & Master (JSM) on the first Five-Year Plan for Economic and Social Development (2026-2030) :
The Hong Kong SAR Government’s release of its first Five-Year Plan for Economic and Social Development (2026-2030) marks a significant step towards a more strategic and long-term approach to Hong Kong’s development. In the economic sphere, the Plan advocates a better integration of an “Effective Market” and a “Capable Government”. This is not a departure from Hong Kong’s longstanding commitment to a free-market economy. Rather, it seeks to preserve the market’s primary role in resource allocation while enabling the Government to foster a more conducive environment for economic growth through long-term planning, infrastructure investment and institutional innovation.
The Plan also reinforces Hong Kong’s positioning as the “Four Centres and One Hub”. This includes further strengthening its status as an international financial, maritime and trade centre, and as an international aviation hub; accelerating the development of an international innovation and technology centre and a global hub for high-calibre talent; and promoting high-quality economic development and industrial upgrading through initiatives such as financial innovation, green and digital finance, and the enhancement of Hong Kong’s role as a global offshore renminbi business hub and an international asset and wealth management centre.
In relation to legal and professional services, the Plan proposes enhancing and expanding the functions of the Hong Kong International Legal Talents Training Academy, with a view to developing it into a leading platform for the training, exchange and gathering of high-calibre legal professionals from China and Belt and Road partner countries. This underscores the important role that Hong Kong’s legal profession plays in supporting the country’s broader development strategy.
From a legal perspective, Hong Kong’s greatest strength lies in its unique position under the “One Country, Two Systems” framework, which combines strong national support with the advantages of an internationally recognised common law system. Against an increasingly complex global economic and geopolitical backdrop, the rule of law, regulatory transparency and policy certainty remain among Hong Kong’s most important institutional advantages and key drivers of its international competitiveness.
Looking ahead, if Hong Kong continues to strengthen its common law system and deepen its capabilities in international legal and dispute resolution services, it will be well placed not only to reinforce its role as a “super connector” and “super value-adder”, but also to develop into a leading regional hub for international legal and dispute resolution services, providing a robust institutional foundation for sustainable, high-quality economic growth.
