Five-Year Plan helps HK exploit its advantages, realize full economic potential

Since 1953, the central authorities of the People’s Republic of China have planned their every move per quinquennium. As the world ushered in 2021, the year also marks the commencement of the 14th Five-Year Plan (2021-25) for China’s national development, and in it, the central authorities have dedicated a chapter outlining strategies to support the development of the Hong Kong Special Administrative Region; in particular, to enhance Hong Kong's competitive advantages in all spheres of economic activity and help the city better integrate into the overall development of the country.

According to the 14th Five-Year Plan for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, which is already set in motion, the central authorities plan to establish major technological overhauls that range from rerouting highways for greater efficiency, establishing comprehensive educational centers within the Guangdong-Hong Kong-Macao Greater Bay Area, repairing natural shoreline and coastal wetlands, but most importantly, the continuation of supporting and enhancing the special administrative region status of Hong Kong, among many other things.

In particular, the central authorities aim to continue strengthening Hong Kong as an international hub for cultural and business exchanges; at the same time, they are also keen on strengthening the national identity of Hong Kong through the introduction of national education into the local school curriculum. The new syllabus will naturally include the legal basis of Hong Kong’s special administrative region status and constitutional order, which include the Constitution of the PRC and the Basic Law of the HKSAR.

While most of us in Hong Kong have embraced the “one country, two systems” policy wholeheartedly, what matters the most, for us, is not a clear distinction between the two systems, but rather, the overarching goal of developing Hong Kong to reach its peak economical potential without sacrificing national security. This sentiment also echoes a speech by Luo Huining, director of the Liaison Office of the Central People’s Government in the HKSAR: “Development will always be the be-all and end-all golden key to solving every problem imaginable”.

Hong Kong is a unique place because of its rich history, having roots at home in the Chinese mainland and also a strong connection with the West. Because of this, its development also needs to strike a delicate balance between its domestic and international commitments, while it is important that Hong Kong keeps its status as an international trade and finance center solid by maintaining business opportunities vibrant and attractive to the rest of the world. Hong Kong has to nonetheless enhance its other status as the “super connector” between the Chinese mainland and the rest of the world to exploit its full advantage to the benefit of Hong Kong people. It must also improve its domestic market by investing in its people and infrastructure, with the objective of enhancing the innovative capacity of the city.

Since the Chinese mainland kicked off its reform and opening-up policy, the central government has demonstrated to the world its ability to govern and develop the country with irrefutable evidence such as jaw-dropping economic growth for decades and great achievements in poverty alleviation and technology. Today, the development of the Guangdong-Hong Kong-Macao Greater Bay Area is not only in China’s plans but also a reality in the making. We have the utmost faith and confidence in the central authorities’ ability to guide Hong Kong to a brighter future.

Hong Kong, with a population of 7.6 million, has long been an important market for international conglomerates. But whether you admit it or not, its development is also inextricably linked to that of the Chinese mainland. Some people, particularly some radical youths, in Hong Kong hold the false assumption that Hong Kong could survive on its own, only because they utterly fail to understand the role of the city within the bigger picture. Just as its name might indicate, Hong Kong is a harbor, and the purpose of a harbor is none other than serving the various needs of its hinterland, which is the huge mainland market in the case of Hong Kong, and benefiting from the process.

In the days ahead, as Beijing’s new strategies and plans for national socioeconomic development are set into motion, Hong Kong will be able to realize its full economic potential as it integrates itself further into the national development strategy in every way possible. Once Hong Kong improves its policies to facilitate its integration into the Greater Bay Area, the residents of the city will realize that the economic opportunities and potential provided by the project are beyond their imagination.

Junius Ho Kwan-yiu is a Legislative Council member and a solicitor.

Kacee Ting Wong is a barrister, a part-time researcher of Shenzhen University Hong Kong and the Macao Basic Law Research Center, and a co-founder of the Hong Kong Coalition.

The views do not necessarily reflect those of China Daily.