Mainland China charts new course as Hong Kong writes next chapter

An opinion piece in the South China Morning Post states Beijing's plans assure steady, high-quality growth and stable relations, with Hong Kong taking a bigger role in national development. It highlights a shift to a growth target range as reflecting strategic flexibility.

The South China Morning Post published an opinion piece on March 23, 2026, titled 'As mainland China charts a new course, Hong Kong writes its next chapter'. It states: 'Beijing’s plans provide assurances of steady, high-quality growth and stable relations, with Hong Kong playing a bigger role in national development.' The article describes the shift to a target range for growth as 'strategic flexibility – a pragmatic approach that balances ambition with stability'. On one hand, it allows 'room for structural adjustments, risk prevention and reforms'. On the other, 'the goal is firmly within China’s growth potential and among the highest of the major economies, a positive signal for the global economy'. It notes that the five-year plan provides clear answers to 'What will China do in the next five years, and how?' Keywords include UN Charter, Shenzhen, China-US relations, Macau, China, Commissioner's Office of the Ministry of Foreign Affairs in Hong Kong, Premier Li Qiang, Hong Kong, Foreign Minister Wang Yi, Greater Bay Area, John Lee Ka-chiu, Northern Metropolis, Asia-Pacific Economic Cooperation.

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Illustration of China's central authorities announcing supportive policies for Hong Kong in the 15th Five-Year Plan, featuring skyline and press conference.
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China's central authorities to roll out more policies for Hong Kong: spokesperson

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Chinese central authorities will continue rolling out more policies and measures that benefit the Hong Kong Special Administrative Region during the 15th Five-Year Plan period, a spokesperson said on Wednesday. The central authorities will make further arrangements in the 15th Five-Year Plan for national economic and social development to support Hong Kong in leveraging its unique strengths and playing a significant role.

Hong Kong’s leader has pledged to align the city with national strategies in China’s latest five-year plan and turn Beijing’s assigned “new positionings, functions and missions” into tangible outcomes to drive economic growth. Chief Executive John Lee Ka-chiu said he would lead the government in uniting society to proactively align with the 15th five-year plan, which sets China’s economic and social development targets for 2026 to 2030. His comments followed the approval of the plan’s outline by China’s top legislature.

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During China's 2026 national two sessions, Hong Kong's role as the world's third-largest financial center drew attention. Australian scholar Warwick Powell discussed with Hong Kong CPPCC member Judith Yu how the city can leverage its 'super-connector' status to align with the 15th Five-Year Plan. Yu highlighted innovation, technology, and financial empowerment to boost Greater Bay Area cooperation.

Hong Kong's Financial Secretary Paul Chan Mo-po said the city has struck a balance between financial security and innovation in its roles as a 'testing ground' and 'firewall' for China's reform and opening up. He stated that security is core to high-quality development amid geopolitical tensions risking financial markets and energy supplies. The city rolled out its first batch of stablecoin licences last week and pledged to accelerate the shift to green energies.

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At the opening of China's National People's Congress, Premier Li Qiang pledged to champion orderly multipolarism and inclusive globalisation. President Xi Jinping urged major provincial economies to lead in technological innovation and risk control. The government work report outlined priorities for the economy, innovation and military this year.

Pakistan's Ambassador to China, Khalil Hashmi, has expressed optimism about enhanced cooperation within the Shanghai Cooperation Organization (SCO) as China's 15th Five-Year Plan begins in 2026. In an interview with China News Network, he linked the SCO's development strategy to China's goals for green growth and regional stability. This follows the 2025 SCO Summit in Tianjin.

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Following Premier Li Qiang's government work report setting a 2026 GDP growth target of 4.5-5%, Zheng Shanjie of the National Development and Reform Commission projected over 6 trillion yuan GDP growth this year at the NPC economy press conference. The service sector is expected to exceed 100 trillion yuan during the 15th Five-Year Plan (2026-2030). Leaders including Xi Jinping emphasized high-quality development amid the sessions.

 

 

 

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