Hong Kong is implementing its first comprehensive five-year plan, marking a significant departure from its historical reliance on market forces. This unprecedented attempt to guide long-term growth reflects major shifts in the city's economic strategy.

Hong Kong’s first five-year plan is expected to guide the city’s future development. Never before has the city attempted a comprehensive plan in the style of mainland China, signalling a major shift in how it approaches long‑term growth. The real question is not why a laissez‑faire economy must adopt a new model but how this transformation will unfold. This exercise is unprecedented on multiple fronts. First, it departs from Hong Kong’s long-standing reliance on market forces and incremental...