Hong Kongโs inaugural five-year plan highlighted its DNA as an international city while emphasising the market economy, the chief executive has said.
Speaking at a National Day reception on Thursday, Chief Executive John Lee Ka-chiu said the city needed a blueprint with strategic vision amid the rapidly changing geopolitical landscape and accelerated growth of artificial intelligence, as he highlighted three features of the plan that was unveiled last month.
โ[It] adheres to the โone country, two systemsโ principle. This means that the five-year plan must be developed under the Basic Law framework,โ he said, referring to the cityโs governing principle and mini-constitution.
โThe Basic Law expressly provides for the practice of capitalism and the common law system, as well as the free flow of capital, people, goods and information in Hong Kong, while the first five-year plan stresses a market economy and upholds the two-pronged approach of โeffective marketโ and โcapable governmentโ.โ