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Hong Kong drafts a five-year plan to align local policy with national goals

The government is finishing a public consultation process for the plan, which marks a shift from Hong Kong’s long-running reliance on annual budgeting and policy addresses.

Reported · Written up by our desk · Trade & Tariffs

Hong Kong is preparing a new city five-year plan designed to align local policy with national development priorities, as the government completes a public consultation exercise, according to SCMP Economy.

The outlet frames the effort as a departure from Hong Kong’s historically laissez-faire approach, noting the city previously relied on annual policy addresses and budgets for longer-range planning, from the late colonial era through the post-handover period.

Economist Heiwai Tang is quoted as arguing that markets are often helpful but cannot resolve all long-term structural problems on their own, and he cautioned against positioning Hong Kong as a final defender of strict laissez-faire that can leave persistent issues unaddressed.

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