China Plans Hong Kong Financial Alignment to Boost Global Cooperation, Tech Innovation

Hong Kong is positioning itself to deepen integration with China's 15th Five-Year Plan (2026-30), leveraging its financial strengths to enhance cooperation with the mainland and promote global financial governance reform, according to Vice-Premier He Lifeng. The city aims to transform into an international innovation and technology center by steering capital toward innovation and technology, building a multitiered capital market, and deepening financial ties with the Chinese mainland, aligning with national development goals. Hong Kong's financial markets have shown robust performance, with a significant surge in stock market activity, record IPO fundraising, and high rankings in global competitiveness and fintech, as highlighted by Chief Executive John Lee Ka-chiu. Beijing has pledged support to consolidate and elevate Hong Kong's status as a global financial hub by enhancing openness and cooperation, facilitating financial collaboration, and streamlining regulatory processes to bolster the city's role as a “superconnector” between the mainland and international markets. The government is advancing strategic reforms, including an overhaul of the listing regime, developing fixed income and currency markets, establishing international gold trading, and creating a future-proof regulatory regime for digital assets to sustain momentum. Collectively, these efforts underscore Hong Kong's commitment to maintaining its resilience and leadership in global finance amid shifting geopolitical and economic landscapes.