Hong Kong Five-Year Plan Set for Sept. 16 Release Alongside Policy Address

The first Hong Kong Five-Year Plan will be released alongside Chief Executive John Lee's annual Policy Address on Sept. 16, potentially providing greater clarity on how long-term development priorities connect with immediate government measures.

Legislator Bill Tang urged officials to establish measurable performance indicators for innovation and technology, including research and development expenditure as a percentage of gross domestic product and funding for gerontechnology.

Tang also proposed creating a building maintenance authority to support property owners facing repair orders and reduce reliance on contractors selected mainly on price.

Fellow lawmaker Peter Douglas Koon called for stronger emphasis on elderly welfare, housing, healthcare and development of the silver economy.

Koon warned that older residents could eventually account for 30% to 40% of Hong Kong's population, increasing pressure on public services and creating opportunities for businesses serving an ageing society.