Hong Kong’s first 5-year plan, John Lee’s 2026 policy address: everything you need to know

We have put together stories from our coverage of John Lee’s 2026 policy address. If you would like to see more of our reporting, please consider subscribing.1. 14 key takeaways from John Lee’s policy address, Hong Kong’s first 5-year planA woman walks past a live broadcast of Chief Executive John Lee delivering the five-year plan and policy address. Photo: Karma LoHong Kong Chief Executive John Lee Ka-chiu has placed deepening integration with mainland China and developing new economic engines centre stage as he unveiled the city’s first-ever five-year plan alongside the last policy address of his term.2. Hong Kong sets 5-year plan to double innovation spending, boost new industriesThe city’s first five-year blueprint, aligned with China’s national development strategy, sets targets to nearly double innovation spending and raise the share of manufacturing and new industries to 5.5 per cent of the economy.3. Hong Kong’s HK$30,000 bonus for second child among 11 new measures to boost birthsHigher baby bonuses were also offered up as part of the policy blueprint. Photo: Sun YeungHong Kong authorities have rolled out 11 new initiatives to encourage residents to have children, including an expanded cash bonus scheme and a reduced down payment for subsidised housing for parents with newborns.4. Hong Kong’s new training visa could be available in first quarter of 2027A new visa intended to attract international talent to participate in short-term training programmes in Hong Kong could become available as early as the first quarter of next year.5. Hong Kong to woo finance and tech firms with new tax breaksHong Kong has already launched a trial gold clearing and settlement system involving 11 Chinese and international banks. Photo: Edmond SoHong Kong will introduce various tax incentives for new finance and technology industries to attract businesses and reinforce the city’s role as a leading financial hub.6. First building in Hong Kong’s university town project to be ready in monthsA view of the Hung Shui Kiu/Ha Tsuen New Development Area of the Northern Metropolis. Photo: Karma LoThe first building in the 1,000-hectare (2,472-acre) university town project in the Northern Metropolis will be completed by the end of this year, Hong Kong’s leader has said, revealing that the flagship tower is called Loop Academy One.7. Hong Kong leader pledges building maintenance reforms after fatal Tai Po fireJohn Lee has pledged to overhaul the city’s building maintenance regime and improve emergency response as part of the government’s response to last year’s fatal Tai Po fire, while authorities study criminalising bid-rigging and plan to submit a proposal later this year.8. Hong Kong launching pilot scheme to bring in foreign carers for the elderlyIn rapidly ageing Hong Kong, the number of people aged 65 and above is projected to nearly double from 1.45 million in 2021 to 2.74 million by 2046. Photo: Sam TsangHong Kong will introduce a pilot scheme next year to bring in foreign domestic carers to look after older residents as part of a broader package of measures announced in the policy address to deal with an ageing population.9. Hong Kong targets gold trading, FPS-UnionPay link to boost yuan useThe HKMA will promote linking the Faster Payment System with mainland China’s bank card and payment system UnionPay by the end of the year. Photo: Nora Tam10. Hong Kong targets film tourism boom and higher-level tennis tournamentsHong Kong will introduce themed tourism routes showcasing the city’s most recognisable filming locations and explore upgrading Victoria Park’s Centre Court to host higher-level tennis tournaments, as authorities seek to significantly increase the sector’s economic contribution under the city’s first five-year development plan.Further Reading