Today (March 5), the 14th National People's Congress (NPC), China's top legislature, opened its fourth session at the Great Hall of the People in Beijing.
Chinese Premier Li Qiang delivered a government work report at the meeting.
According to the report, the Chinese economy reached new heights, with an average annual growth of 5.4 percent in gross domestic product (GDP), well above the global average. China also made new strides in reform and opening up, cementing its position as the world's largest trader of goods.
The report also said that China targets an economic growth of 4.5 percent to 5 percent and create over 12 million new urban jobs in 2026. It also aims at building international centers for sci-tech innovation, turning them into world-class innovation engines. The government will release more supportive employment policies for college graduates and other young people, help stabilize jobs for migrant workers, and assist demobilized military members in resettling and finding jobs.
Also, the draft outline of the 15th Five-Year Plan (2026-2030) for national economic and social development was submitted to the fourth session of the 14th NPC for review.
In addition to reiterating Hong Kong's positioning of "eight centers" in the 14th Five-Year Plan, the draft outline also emphasizes strengthening the city's functions as a global offshore renminbi business hub, an international asset and wealth management center, and an international risk management center. It also aims to build a commodity trading ecosystem and a high-value-added supply chain services center.
Additionally, the draft also mentions strengthening economic, trade, technological, and cultural cooperation between Hong Kong, Macao, and the Chinese mainland; improving policies and measures to facilitate the development and daily lives of Hong Kong and Macao residents on the mainland; and leveraging the important role of the two SARs as windows for the exchange and mutual learning between China and the West.
Here, we can notice that the starting point for the connection between Hong Kong and the mainland lies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The draft mentions facilitating transportation across regions, constructing new high-speed railways in GBA, and developing the Northern Metropolis. Essentially, these initiatives aim to integrate Hong Kong with other (mainland) cities in GBA, enabling it to align with the mainland while strengthening its own foundation.
As China charts its path forward, these goals reflect the nation's commitment to sustainable growth and global leadership. Hong Kong, as a global city, holds great significance. Stay tuned for further updates on related information.
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