Hong Kong unveils first five-year plan to boost innovation, birth rates

Hong Kong Chief Executive John Lee announced the city's first five-year plan, targeting an increase in innovation spending to 3% of GDP after 2030 from 1.63% in 2024, alongside measures to boost birth rates and financial activity. The plan also accelerates the Northern Metropolis megaproject. This marks a policy shift towards long-term economic planning, but implementation and funding details remain unclear.