August 15, 2026, (Inside AI) — Hong Kong's first five-year plan must prioritize the Northern Metropolis, strengthen its financial hub status, and advance its AI strategy, according to major business chambers.
The American Chamber of Commerce in Hong Kong (AmCham) and the Federation of Hong Kong Industries (FHKI) made the recommendations in submissions to the city's inaugural five-year plan. The public consultation closed Friday, drawing more than 16,000 submissions.
The blueprint, expected in September, will align Hong Kong's development with China's 15th five-year plan covering 2026 to 2030. The chambers identified the Northern Metropolis as a key economic driver.
First announced in 2021, the metropolis aims to transform about 30,000 hectares (74,132 acres) along the mainland Chinese border into a growth engine, housing hub, and university town.
"Over the next five years, the development of the Northern Metropolis should be guided by industrial development, enterprise presence and employment outcomes," FHKI said.
AmCham called for a single statutory entity to streamline coordination and facilitate public-private partnerships. It also urged deeper Greater Bay Area wealth integration by expanding Wealth Management Connect quotas and widening eligible product scopes.
The submissions highlight a rare consensus between international and local business groups. Both see the Northern Metropolis as a test of Hong Kong's ability to execute large-scale infrastructure while maintaining its competitive edge in finance and technology.
Hong Kong has struggled to translate ambitious tech policies into tangible outcomes. Its AI strategy, first outlined in 2022, focused on research funding and data infrastructure but lacked a clear commercialization path. The five-year plan offers a chance to correct that.
Meanwhile, the Northern Metropolis faces land assembly challenges, environmental concerns, and questions about cross-border coordination with Shenzhen. AmCham's call for a statutory entity echoes governance models used in Singapore's Jurong Island and China's Xiong'an New Area.
Wealth Management Connect, launched in 2021, allows residents of the Greater Bay Area to invest across borders. Expanding quotas could deepen capital flows but also raises regulatory complexity and risk management questions.
The chambers' submissions also stressed reinforcing Hong Kong's role as an international financial centre. That role has faced pressure from geopolitical tensions and competition from Shanghai and Singapore.
Hong Kong's government has not yet indicated which recommendations it will adopt. The September blueprint will reveal whether the city can move from consultation to execution.
Other submissions likely addressed housing, talent retention, and innovation. The 16,000 responses suggest broad civic engagement, but the real test is whether the plan translates into measurable outcomes by 2030.
