Caixin Summit: Hong Kong to Complement China’s Latest Five-Year Plan: Carrie Lam

What’s new: Government agencies in Hong Kong have set up a joint working group to help implement China’s 14th Five Year Plan by boosting the city’s status as an international financial center, Chief Executive Carrie Lam said at the Caixin Summer Summit 2021 on Thursday.

The city’s treasury and financial services bureau is working with local regulators and market development bodies to formulate a blueprint to complement the needs of China's economic and financial development, and to meet the needs of international investors, Lam said in a video message at the event.

The city will also communicate with the central government in Beijing to gain support, she added.

The background: In March, China’s lawmakers ratified the country’s 14th Five Year Plan at their annual political meetings, known as the “Two Sessions,” outlining the country’s economic targets for 2021-2015.

The document included contents on enhancing development of the Guangdong-Hong Kong-Macao Greater Bay Area, maintaining the prosperity and stability of Hong Kong and supporting Hong Kong to improve its status as an international financial, transportation and trade center.

Quick Takes are condensed versions of China-related stories for fast news you can use.

Contact reporter Cai Xuejiao (xuejiaocai@caixin.com)

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