Officials stress HK’s potential in driving tech innovation, further opening-up

Senior central government officials on Monday highlighted Hong Kong’s outstanding role in the nation’s further reform and opening-up, with its enormous potential in boosting new quality productive forces, high-quality financial development, and bridging domestic and international markets.

They made the remarks while explaining the guiding principle of the third plenary session of the 20th Central Committee of the Communist Party of China during a seminar in Hong Kong.

At the invitation of the Hong Kong Special Administrative Region government, Shen Chunyao, chairman of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress, and Commerce Minister Wang Wentao visited Hong Kong to introduce the gist of the plenum.

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On Sunday and Monday, three events on this matter were attended by over 1,000 representatives from various Hong Kong sectors, including government officials, business leaders, civil servants and lawmakers. Another presentation is scheduled in Macao on Wednesday afternoon.

During the seminar on Monday afternoon, Wang said that a significant signal released from the plenary session is the nation’s unwavering commitment to further opening-up to the world. Given Hong Kong’s enduring advantages in trade and investment, the city is expected to play a pivotal role in the nation’s expanded global engagement, he said.

The commerce minister added that Hong Kong possesses distinct advantages as an international financial center. The central government will fully support the HKSAR’s high-quality development in the financial industry, he said.

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What’s more, Wang said, he believes Hong Kong has great potential to promote new quality productive forces, which is also a key strategy underscored in the plenum’s resolution. Leveraging its rich resources of talent, capital, and platforms, the city is poised to further drive the nation’s technological and institutional innovation, he said.

Wang said that the unprecedented changes in international communities have further accentuated Hong Kong’s strategic importance. He encouraged the city to give full play to its role as a super connector and a super value-adder.

While consolidating its traditional strengths, it is also essential for Hong Kong to proactively align with the nation’s forthcoming 15th Five-Year Plan (2026-30) and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, he said.

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During the same event, Shen provided a systematic explanation of the importance of the third plenary session. He said that during his two-day stay in Hong Kong, he observed that various sectors in the city are very enthusiastic about the session, as well as Hong Kong’s role in the nation’s further development. This fully reflects the dedication of Hong Kong compatriots to the cause of “one country, two systems” and their love for the city and the country, which is highly inspiring for him, Shen said.

Chairing two study sessions on Monday, Hong Kong Chief Executive John Lee Ka-chiu said that the plenary session is a highly significant meeting convened by the nation during a crucial period of advancing modernization and seeking great rejuvenation.

Among the over 300 reform measures put forward in the plenary’s resolution, many are relevant to Hong Kong, including further enhancing Hong Kong’s status as an international financial, shipping, and trading hub, and supporting Hong Kong’s building of an international hub for high-end talent.

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Lee said these measures will have a profound impact on Hong Kong and the world at large. He said he hopes SAR government officials will seize this valuable opportunity to earnestly study the guiding principles of the meeting, and integrate them into their daily work.

He emphasized that amid the complex global situation, Hong Kong society must thoroughly grasp the essence of the plenum and actively engage in and contribute to the country’s ongoing reform efforts. 

Zheng Yanxiong, director of the Liaison Office of the Central People’s Government in the HKSAR, said that the plenary session has offered great opportunities for Hong Kong to better leverage its unique role in the nation’s development.

Calling on society to actively embrace the opportunities, he said the city can cultivate new advantages, realize new developments, and make new contributions to the nation’s further reform and opening-up.