HK Needs A Blueprint To Support Five-year Plan: FS

The Financial Secretary Paul Chan says Hong Kong should mobilise its strengths and resources to support the country's development, adding that a corresponding plan is needed if the SAR is to align with the nation's 14th five-year plan.

Writing on his blog on Sunday, Chan said the territory needs to formulate its development direction from a new perspective, in areas such as finance, to seize the opportunities.

The financial secretary said that Hong Kong would have to do a good job in collaboration when it comes to bringing together policies, industries, markets and more importantly, vision and mindset.

"It's the only way that we can, in a complex and interactive market, mobilise the entire society's strengths and resources as much as possible for Hong Kong to have a better development under the country's development blueprint," Chan wrote.

He also identified opportunities in developing Hong Kong's bond market as well as green and sustainable finance, and providing asset management services for the mainland's growing middle class.

He added that the ongoing development of the offshore renminbi business would provide new opportunities for the SAR.

Chan and other leading local figures joined officials from the State Council's Hong Kong and Macau Affairs Office at a seminar last week to talk about the national development strategy.