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.

An opinion piece in the South China Morning Post suggests that Hong Kong's 2026-27 budget speech should clarify how the city's economic direction aligns with global and national trends, defining its place in future industries. It urges Financial Secretary Paul Chan Mo-po to explain the macroeconomic rationale behind Hong Kong's new industrial policy: large-scale investment in innovation and technology to broaden the economy.

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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.

China's government is likely to set a 2026 economic growth target in a range of 4.5% to 5%, according to three briefed sources. If confirmed, this would signal tolerance for some deceleration amid challenges, prioritizing economic rebalancing and stability.

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Premier Li Qiang delivered the government work report to China's National People's Congress on March 5, 2026, setting a 2026 GDP growth target of 4.5-5% and outlining priorities for the 15th Five-Year Plan (2026-2030), including technological innovation, economic security, public well-being, energy production and decarbonisation. The report announced 20 growth targets across economy, technology, healthcare and more, plus 109 major projects in six areas—up from 102 previously—to support doubling 2020 per capita GDP by 2035.

Hong Kong's Finance chief Paul Chan says the city will channel capital and innovation into the global green transition for carbon-neutral development. Speaking at a symposium on low-carbon transition and sustainable development, he highlighted Hong Kong's role in green finance and technology.

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During a recent fact-finding trip to Guangdong province, Premier Li Qiang urged the region to focus on high-quality development and keep its mission in the national strategy firmly in mind. He called for strengthening advantages in innovation-driven growth and leading in reform and opening-up. The visit underscores the urgency to advance economic and social development for a solid start to the 15th Five-Year Plan (2026-30).

 

 

 

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