HONG KONG ENTERING NEW PHASE OF DEVELOPMENT

BEIJING, SEPTEMBER 17 /SRNA/ – The Hong Kong Special Administrative Region expects the added value of the tourism industry to increase by 40 to 50 percent by 2030, reaching 126 billion Hong Kong dollars, or approximately 16.06 billion US dollars, according to an economic and social development plan.

According to the plan, Hong Kong's real GDP growth rate is expected to remain within a reasonable range during the 2026–2030 period, the China Media Group reported.

Hong Kong aims to raise the ratio of total domestic expenditure on innovation activities to GDP to three percent after 2030, compared with 1.63 percent in 2024, according to the plan.

In order to strengthen its competitive advantage, Hong Kong plans to consolidate and enhance its position as an international financial, maritime and trading centre, while developing into an international centre for innovation and technology and a global hub for highly skilled talent, the document states.

"The key objectives of the Hong Kong Special Administrative Region for the period up to 2030 are to continue economic development, strengthen international competitiveness and influence, and significantly improve public welfare," said John Lee, the region's Chief Executive.

Lee stressed that the coming years are crucial for Hong Kong to seize the opportunity to improve social welfare and build a better home for everyone.

"The plan will help build a more open, inclusive, more free, more prosperous and safer Hong Kong," Lee said while presenting the 2026–2030 economic and social development plan.