Hong Kong Unveils Policy Address for Economic Growth and Development
News related to:Hong Kong SAR · 3 min read
Hong Kong's Chief Executive, John Lee, unveiled the city's fifth Policy Address on September 16, 2026, outlining a strategic vision for the next five years.
Lee emphasized that Hong Kong is at a critical juncture, poised to advance from stability to prosperity. The Policy Address sets forth a comprehensive roadmap to foster economic development and improve the well-being of the people. It focuses on five major development opportunities to drive high-quality growth.
One key initiative is the development of the Northern Metropolis University Town, which aims to strengthen Hong Kong's position as an international education hub. The government plans to increase research postgraduate places by 30% and expand the quota for government scholarships by 200. Additionally, five new major academies will be established to train international talent, including the International Clinical Trial Academy, Maritime Academy, Hong Kong International Legal Talents Training Academy, Hong Kong Intellectual Property Academy, and Hong Kong International Academy of Policing.
To promote industry development, the Policy Address proposes the acceleration of an international gold trading market. The government will also explore tax concessions for qualifying activities within the gold and commodity trading ecosystem. Details of the new Renminbi-denominated and physically settled gold futures contracts will be announced, along with plans to increase the Exchange Fund's gold holdings and gradually transfer physical gold holdings to designated vaults.
The government will introduce an amendment bill to provide preferential tax rates of 5% or half-rate for selected enterprises operating in key sectors such as finance, advanced manufacturing, innovation and technology, research and development, headquarters activities, and logistics and supply chain management. This move is designed to attract and retain high-calibre talent and support the growth of strategic industries.
In the realm of legal and dispute resolution, the HKSAR Government will fully support the work of the International Organization for Mediation headquartered in Hong Kong, and build a global capital of mediation.
The Policy Address also highlights plans for the development of six special industry parks, including the Loop Hong Kong Park, San Tin Technopole, Hung Shui Kiu Industry Park, Sandy Ridge Data Facility Cluster, and Hung Shui Kiu/Ha Tsuen modern logistics cluster. Land is also earmarked for building an advanced construction industry park to increase investment opportunities for enterprises.
To attract enterprises to establish a foothold in Hong Kong, the government will grant tax concessions based on the value brought by enterprises, rather than solely considering the industry sector. This initiative aims to support the growth of key sectors such as finance, advanced manufacturing, innovation and technology, research and development, headquarters activities, and logistics and supply chain management.
Furthermore, the Policy Address emphasizes the importance of international cooperation. Two United Nations organizations, the center of excellence on global advanced manufacturing and the Office on Drugs and Crime's GlobE Network Asia Pacific Regional Bureau, will establish their presence in Hong Kong. Additionally, the new WestK Performing Arts Centre, scheduled to open next year, will feature four performance venues built to the highest international theatre standards. Asian and international sports associations will also be encouraged to establish a presence in Hong Kong.
In conclusion, the Policy Address marks a significant step in Hong Kong's journey towards a brighter future. By leveraging the nation's robust economic strength and high-quality development, the city aims to create new opportunities and enhance the well-being of its people.