Hong Kong Financial Secretary Paul Chan Mo-po announced the new Budget, stating that it actively aligns with the 14th Five-Year Plan. Paul Chan pointed out that Hong Kong can play a role in several key areas. First, it can contribute to the development of the nation’s modern industrial system and accelerate the pursuit of high-level self-reliance in science and technology. Hong Kong possesses strong capabilities in basic research and unique advantages in fields such as AI, life sciences and health technology, fintech, as well as new materials and new energy. At the same time, as an international financial center, Hong Kong will advance the “Finance Plus” initiative, leveraging finance to better serve the real economy and competitive industries, and accelerate the mutual empowerment of finance and innovation and technology, using Hong Kong’s strengths to meet the nation’s needs. The Chief Executive will lead a cross-bureau, cross-departmental task force to guide Hong Kong in proactively aligning with the 14th Five-Year Plan and, for the first time, formulating Hong Kong’s own five-year plan. Hong Kong will more actively integrate into and serve the nation’s overall development, combining an effective government with an efficient market to drive the economy toward high-quality, high-value-added, and diversified growth. (Hong Kong Economic Journal)