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A breathtaking panoramic view captures the dense urban landscape of Hong Kong, with its towering skyscrapers and bustling Victoria Harbour bathed in the warm light of sunset. By MDL.

Economy

China’s Five-Year Plan: Will Hong Kong’s Superconnector Status Soar or Stumble?

Hong Kong eyes a stronger role as China‘s global link in its new five-year plan.

byAndres Castro

September 26, 2025, 8:19 PM

Executive Summary

Hong Kong is poised to strengthen its role as a “superconnector” between mainland China and global markets as Beijing drafts its 15th five-year plan.

Recent doubts about Hong Kong’s status as an international financial center have reportedly eased following an uptick in financial indicators and renewed interest from global businesses.

Hong Kong’s position within China’s 15th five-year plan will be crucial in determining the policies and resources Beijing directs its way, shaping its future economic trajectory.

The Story So Far

Hong Kong’s status as an international financial center has recently been subject to doubt due to factors like US-China tensions and economic slowdown, though a recent resurgence in its financial indicators is easing these concerns. Beijing’s five-year plans are critical national blueprints that determine high-level policy priorities and resource allocation, making the upcoming 15th plan instrumental in defining Hong Kong’s future role and the level of support it will receive as a “superconnector” linking mainland China with global markets.

Why This Matters

The upcoming 15th five-year plan is a critical juncture for Hong Kong, as its designated role within this national strategy will directly influence Beijing’s policy support and resource allocation, potentially solidifying its function as a “superconnector” linking mainland China with global markets, following a recent resurgence that has eased previous doubts about its international financial hub status.

Who Thinks What?

Analysts suggest that Hong Kong is poised to strengthen its role as a “superconnector” linking mainland China with global markets, particularly as Beijing drafts its 15th five-year plan, following a recent resurgence in its financial indicators.

Phil McManus, innovation and technology chair at the British Chamber of Commerce in Hong Kong, expresses confidence in the city’s inherent resilience, stating that “Hong Kong bounced back. It always has. It always will.”

Raymond Yeung, chief economist for Greater China at ANZ, emphasizes that Hong Kong’s designated position in China’s upcoming five-year plan will be crucial in determining the specific policies and resources Beijing directs towards the city.

Hong Kong is poised to potentially strengthen its role as a “superconnector” linking mainland China with global markets, as Beijing drafts its 15th five-year plan, the nation’s primary socio-economic development blueprint. This comes amid a recent resurgence in the city’s financial indicators and renewed interest from global businesses, following a period of doubt regarding its status as an international financial center.

Evolving Perceptions of Hong Kong’s Role

Not long ago, observers questioned Hong Kong’s enduring appeal as an international financial hub. Concerns were driven by escalating US-China tensions, a prolonged economic slowdown, and the rising influence of regional competitors such as Singapore.

However, these doubts have reportedly eased following a notable uptick in the city’s stock index and a surge in fundraising activities. This resurgence has also contributed to Hong Kong’s growing attractiveness to international businesses and skilled professionals.

Phil McManus, innovation and technology chair at the British Chamber of Commerce in Hong Kong, recently expressed confidence in the city’s resilience, stating in a LinkedIn post, “Hong Kong bounced back. It always has. It always will.”

Beijing’s Five-Year Plan and Hong Kong’s Future

As China prepares its 15th five-year plan, analysts suggest that the Special Administrative Region could carve out a distinct and critical role within China’s evolving economic strategy. These national blueprints are instrumental in shaping high-level policy priorities and guiding resource allocation across the country.

Raymond Yeung, chief economist for Greater China at ANZ, emphasized the plan’s significance for the city. “Put simply, Hong Kong’s position in China’s next five-year plan will determine the policies and resources Beijing directs its way,” he stated.

Historically, the economic trajectories of Hong Kong, along with Macau and Taiwan, have been significantly influenced by Beijing’s strategic policy decisions. The upcoming plan is expected to continue this trend, offering a window into the central government’s vision for the region over the next five years.

Key Takeaways

The drafting of China’s 15th five-year plan presents a crucial juncture for Hong Kong to redefine and solidify its economic identity. Its designated role within this national strategy will be pivotal in shaping Beijing’s policy support and resource allocation, potentially enhancing its function as a vital link between China and the global economy.