CPA Australia has urged the Hong Kong SAR Government to use its first Five-Year Plan to help shape the city’s long-term economic and financial direction.
In its submission, the accounting body outlined recommendations covering Hong Kong’s role as an international financial centre, capital market development, trade position, innovation agenda and sustainable finance ambitions.
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The proposals are tied to Hong Kong’s first Five-Year Plan for 2026–2030 and the 2026 Policy Address.
They also address development of the Northern Metropolis, workforce readiness and steps aimed at supporting long-term capital formation.
Cyrus Cheung, president of CPA Australia Greater China Division, said the planning process comes at an important stage for the city.
“Hong Kong is entering an important period of economic development. The formulation of Hong Kong’s first Five-Year Plan alongside China’s 15th Five-Year Plan and the 2026 Policy Address provides an opportunity to leverage the city’s unique strengths, support innovation and sustainable investment, and strengthen its long-term competitiveness.”
Cheung said Hong Kong should build on its role as a “super-connector” and “super-value-adder” by broadening its focus beyond traditional trade and financial flows.
“We recommend positioning Hong Kong as a comprehensive capital markets hub encompassing commodities, precious metals, carbon products, digital assets and RMB-denominated products.
“Given its strong financial, regulatory and legal foundations, Hong Kong should set a long-term ambition to become Asia’s leading centre for gold trading, clearing, settlement, financing and risk management.”
He added that Hong Kong is well placed to take on a larger role in supporting Chinese companies expanding overseas.
CPA Australia said its recent research found that more than 3,000 A-share listed companies generated CNY4.90 trillion in overseas revenue in the first half of 2025.
Kelvin Leung, deputy president of CPA Australia’s Greater China Division, said Hong Kong’s long-term success would depend on broadening its role beyond initial public offering fundraising.
Leung said this shift should be supported through further development in digital finance, asset tokenisation, offshore RMB business, wealth management and family offices.
“To support Hong Kong’s long-term development, the government should leverage the Hong Kong Investment Corporation (HKIC) to catalyse private sector investment in strategic industries.
“To further strengthen the economy, we encourage the government to develop a Capital Formation Strategy in close collaboration with Mainland regulators.”
He also said tax competitiveness would be important to preserving Hong Kong’s status as a leading international financial centre.
Dr Albert Wong, a divisional councillor on CPA Australia’s Greater China Division, outlined proposals linked to the Northern Metropolis and Hong Kong’s technology development.
“The Northern Metropolis should be positioned as an internationally connected engine of growth and innovation, serving as a strategic platform bringing together world-class universities, research institutions, multinational corporations, investors and technology enterprises to accelerate the development and commercialisation of new technologies.”
Wong said stronger support was needed to help turn research into commercial outcomes more quickly.
“To strengthen Hong Kong’s innovation ecosystem, we recommend establishing a ‘Government-as-First-Customer’ procurement program to support local tech firms.
“We also recommend leveraging the HKIC as an anchor investor, where appropriate, to help attract private capital into locally developed technologies, alongside the creation of a University Commercialisation Acceleration Fund, to expedite the translation of research into commercial outcomes.”
He also called for stronger support for artificial intelligence and digital adoption by businesses.
“To align with the national ‘AI+’ initiative and enhance business competitiveness, Hong Kong should expand support for AI adoption through measures such as an AI Adoption Support Scheme for SMEs and a Cross-Border Data Exchange Sandbox with the GBA.”
Wong said the wider use of AI would require investment in education, skills and talent. “Capturing the opportunities presented by AI requires a fundamental transformation in education and workforce skills.
Hong Kong should aim for higher levels of digital literacy, critical thinking, communication and human-AI collaboration across all levels of education and training.”
