Marking a shift from traditional year‑to‑year policymaking to strategic medium‑term planning, Hong Kong SAR of China’s first five‑year plan (2026–30) is designed to set out a roadmap for the special administrative region’s next stage of development.
It is structured to align with China’s national priorities, as laid out in the Chinese mainland’s 15th five‑year plan, especially in the areas of high-quality development in finance, innovation, land development and Greater Bay Area integration. The Hong Kong SAR plan focuses on six core areas: accelerating the development of the Northern Metropolis megaproject; economy, finance and trade; innovation and technology; people’s livelihoods; regional cooperation; and the development of culture, sport and tourism.
During the two-month public consultation period, which began in June, over 16,000 submissions were received, including from ACCA Hong Kong. Utilising AI to collate and analyse the collected views, the government says it plans to announce a detailed development blueprint in the third quarter of 2026.
It is a shift from passive alignment to proactive strategic planning
Five-year pivot
Hong Kong SAR’s trade organisations broadly agree that the five-year plan initiative marks an important turning point. The Hong Kong General Chamber of Commerce describes it as giving the business community ‘a clearer, more visionary path forward’, and as a major shift from passive alignment to proactive strategic planning. Meanwhile the Chinese Manufacturers’ Association of Hong Kong welcomes the further alignment with national strategies while viewing the plan as a major upgrade in Hong Kong SAR’s governance and economic planning.
But while economists note the upside potential the plan offers, they also point out it demands tight cross‑bureau coordination, outcome‑driven policymaking that turns long‑term strategy into actionable growth, multiyear private and public investment commitments, and public buy-in. They add that new industries, innovation and technology growth — fundamental elements in the plan — cannot scale without sufficient talent.
A strategic role
From the professional services perspective, the five-year plan reinforces areas where accountants already play a strategic role and where demand is rising. For example, it incorporates proposals to strengthen Hong Kong SAR’s role as an international financial centre, expand green and sustainable finance, accelerate AI‑enabled professional services and deepen integration with the Greater Bay Area. This is increasingly evident through integration driven by technical coordination, regulatory alignment, digital identity standards and professional qualification recognition.
The plan also emphasises traditional strengths in finance, tax, governance and international standards, positioning accountants as key players in helping Chinese mainland enterprises to use Hong Kong SAR as a launch platform to go global. The plan is expected to build on existing policies that position the special administrative region as the connector between Chinese mainland production and global markets. As global supply chains reconfigure, Chinese mainland enterprises are increasingly using Hong Kong SAR as a supply‑chain management centre and gateway for overseas expansion. The experience and expertise of the accounting and professional services sector are also required for initiatives that enhance capital flow mechanisms to make it easier for Chinese mainland businesses to raise funds, manage assets and structure international deals.
The accountancy and professional services sector is the ‘kinetic core’ of Hong Kong SAR’s economy
Gathering views from a wide range of stakeholders, ACCA Hong Kong put forward ten recommendations for Hong Kong SAR’s development, covering the green economy, talent, AI, and cross regional collaboration. With ACCA Hong Kong members widely represented across accounting, finance, innovation and technology, Christina So, head of ACCA Hong Kong and Greater Bay Area lead, says the implementation of the five-year plan provides a prime opportunity for the professional services sector to establish rules and testing grounds for AI deployment in accounting and auditing. Emphasising how the accountancy and professional services sector is the ‘kinetic core’ of Hong Kong SAR’s economy, she adds that the business community requires reliable professional guidance more than ever.
This has become particularly evident as Chinese mainland companies that are scaling globally and deploying AI in their operations look to Hong Kong SAR for AI‑enabled professional services and accountants who understand both cross‑border compliance and AI‑driven business models. At this rapidly developing stage, So says, the profession must evolve into translators bridging institutional alignment and co-builders of international standards while playing an indispensable supporting role in Hong Kong SAR’s future development.
More information
Read ACCA Hong Kong’s press release detailing the ten recommendations for Hong Kong SAR’s five-year plan
