Northern Metropolis and AI vital to Hong Kong’s 5-year plan: business chambers

Hong Kong’s inaugural five-year plan should prioritise the Northern Metropolis mega development, strengthen the city’s position as an international financial centre and advance its artificial intelligence (AI) strategy, major business chambers have said.

In submissions for the city’s first five-year plan, groups including the American Chamber of Commerce in Hong Kong (AmCham) and the Federation of Hong Kong Industries (FHKI) identified the Northern Metropolis as a key economic driver.

Their recommendations are among more than 16,000 submissions 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 between 2026 and 2030.

First announced in 2021, the metropolis aims to transform about 30,000 hectares (74,132 acres) of land along the mainland Chinese border into an engine for growth, a housing hub and a university town.

“Over the next five years, the development of the Northern Metropolis should be guided by industrial development, enterprise presence and employment outcomes,” FHKI said.

AmCham called for a single statutory entity to streamline coordination and facilitate public-private partnerships. It also urged deeper Greater Bay Area wealth integration by expanding Wealth Management Connect quotas and widening eligible product scopes.