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“This year marks the opening year of the National 15th Five-Year Plan. In the thick of accelerating global changes not seen in a century, the vibrant momentum driven by our country’s robust strength, enormous market and high-quality development presents Hong Kong with boundless opportunities. We will better develop our economy and boost social well-being, starting a bright new chapter for Hong Kong,” Mr Lee said.

Entitled “A Strategic Vision for a Bright New Era, Driving Reform and Boosting Development, Unleashing Opportunities and Enhancing Livelihood”, the Policy Address takes the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong’s First Five-Year Plan) as its blueprint, and proposes numerous key measures focusing on five major development opportunities to advance high-quality development.

To attract and retain high-calibre talent, the Hong Kong Special Administrative Region (HKSAR) Government will expedite the development of the Northern Metropolis University Town to strengthen the city’s position as an international education hub. The HKSAR Government will also increase the research postgraduate places by around 30 per cent and the quota for government scholarships by 200, and establish five new major academies for training international talent: the International Clinical Trial Academy, Maritime Academy, Hong Kong International Legal Talents Training Academy, Hong Kong Intellectual Property Academy and Hong Kong International Academy of Policing.

To promote industry development, the Policy Address proposes to accelerate development of an international gold trading market and to explore a proposal to provide tax concessions for qualifying activities within the gold and commodity trading ecosystem. The HKSAR Government will also announce details of the new Renminbi-denominated and physically settled gold futures contracts; explore the possibility of increasing the Exchange Fund’s gold holdings, and gradually transfer its physical gold holdings to designated vaults appointed by the Hong Kong Precious Metals Central Clearing Company Limited.

A number of policies are proposed to promote industry development, including introducing specialty insurance (e.g. commodity, commercial aerospace, etc.); injecting funding into the Artificial Intelligence Subsidy Scheme to support the development of the intelligent computing industry; accelerating the adoption of medical innovation and industry chain development to enable the public to benefit from better and newer drugs; and fostering a new economic landscape for the low-altitude and emerging industries, such as commercial aerospace.

The Government is developing six special industry parks, including the Loop Hong Kong Park, San Tin Technopole, Hung Shui Kiu Industry Park, Sandy Ridge Data Facility Cluster and Hung Shui Kiu/Ha Tsuen modern logistics cluster. Land is also earmarked for building an advanced construction industry park to increase investment opportunities for enterprises.

To attract enterprises to establish a foothold in Hong Kong, tax concessions will be granted on the basis of the value brought by enterprises, instead of solely considering the industry sector. The Government will introduce an amendment bill this year, providing preferential tax rates of 5 per cent, or half-rate, for selected enterprises operating in key sectors such as finance, advanced manufacturing, innovation and technology, as well as research and development, headquarters activities and logistics and supply chain management.

The HKSAR Government will fully support the work of the International Organization for Mediation headquartered in Hong Kong, and build a global capital of mediation. It will also drive the establishment of the International Institute for the Unification of Private Law in Hong Kong, support the Judiciary to advance the development of the International Commercial Court, and establish the “Strategy Committee on Intellectual Property Trading Development” to assist the Government in formulating strategies and support measures for the promotion of intellectual property trading.

Regarding international co-operation, two United Nations (UN) organisations, the centre of excellence on global advanced manufacturing and the Office on Drugs and Crime’s GlobE Network Asia Pacific Regional Bureau, will establish their presence in Hong Kong respectively. Elsewhere, the new WestK Performing Arts Centre, scheduled to open next year, will feature four performance venues built to the highest international theatre standards, while Asian and international sports associations will be encouraged to establish a presence in Hong Kong.

“Today, Hong Kong is at a critical juncture in advancing from stability to prosperity. We are fully aware that formulating a comprehensive, strategic roadmap is integral to our long-term development. The Government has been persistent in mapping our way by driving development through reform. The primary goal of our policies is to enable economic development that can benefit the people of Hong Kong, and meet their aspirations for a better life,” Mr Lee said.

Please visit www.policyaddress.gov.hk for the details and key points of the Policy Address.

Hashtag: #HongKong #PolicyAddress #Strategic #Vision #NewEra

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Response by KK Chiu, International Director, Chief Executive, Greater China, Cushman & Wakefield:

Response by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:

Planning Ahead for AI and Data Centre Infrastructure

We welcome the Government’s commitment to accelerate the development of the Sandy Ridge Data Facility Cluster, which is expected to provide computing power equivalent to 36 times Hong Kong’s current capacity by 2032, alongside a HK$1 billion injection into the Artificial Intelligence Subsidy Scheme. These initiatives will provide important support for the development of Hong Kong’s artificial intelligence and data centre sectors, further strengthening the city’s position as a regional digital and innovation hub.

However, with rapid advancements in artificial intelligence, large language models and cloud computing, demand for computing power is expected to grow significantly in the coming years. We believe that, in addition to planning data centre sites, the Government should proactively review long-term requirements for power supply, electricity grid capacity and related infrastructure. As AI adoption becomes more widespread, access to reliable power and supporting infrastructure will be a key factor in maintaining Hong Kong’s competitiveness as a technology and data centre hub.

We support the Government’s stated direction of pursuing “high-efficiency computing power, stable electricity supply and low-carbon transition”. Looking ahead, we recommend that the Government regularly review future demand for land, power supply and supporting infrastructure arising from the growth of artificial intelligence and data centre activities, particularly within the Northern Metropolis and other strategic development areas. A coordinated approach to computing, energy and digital infrastructure planning will help attract more data centre operators and technology companies to Hong Kong, while supporting the city’s long-term development as a regional hub for data and artificial intelligence.

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (www.linkedin.com/company/cushman-&-wakefield-greater-china).

The 2026-2030 plan, released on Wednesday, calls for an integrated gold ecosystem covering storage, trading, clearing, refining and related financial services, while encouraging more renminbi-denominated commodity products. The government said it would strengthen links with mainland exchanges and attract international investors as it develops the city’s role as a global offshore renminbi centre.

It describes gold as an asset and envisages a one-stop storage, trading and clearing centre.

The strategy gives formal five-year backing to a gold-market expansion already under way. Hong Kong began trial operations of a central clearing and settlement system for gold in July and plans to launch the system formally in the first quarter of 2027. The administration is also seeking to expand storage capacity, improve refining capability and support more gold dealers and financial institutions in establishing operations in the city.

The plan says Hong Kong will explore renminbi-denominated gold and commodity markets and deepen co-operation with the Shanghai Gold Exchange and Shanghai Futures Exchange. It also aims to increase the range of products priced in the Chinese currency and encourage the use of renminbi for pricing and settlement in spot commodity transactions.

Chief Executive John Lee’s administration has framed the programme as part of a broader effort to strengthen Hong Kong’s position as an international financial centre while aligning more closely with China’s national development priorities. The five-year plan also seeks to enlarge the city’s offshore renminbi business, improve liquidity support and expand the range of renminbi bonds and other financial products.

Hong Kong remains the world’s largest offshore renminbi market. The government said offshore renminbi lending reached a record 935 billion yuan in 2025, while renminbi bond issuance reached 1 trillion yuan for a second consecutive year. The new plan proposes a dedicated offshore renminbi liquidity provision mechanism and wider use of the currency in trade, investment, financing and government expenditure.

Gold is intended to provide the first platform for a wider commodities push. The government said Hong Kong would use its status as an approved delivery point in the London Metal Exchange’s global warehousing network to develop trading, risk-management and financing services across additional commodities.

Since Hong Kong joined the LME warehousing network in 2025, approved storage space has exceeded 60,000 square metres and metal inventories have risen above 20,000 tonnes, according to the government. Authorities plan to facilitate more LME-approved warehouses in the Northern Metropolis and introduce a half-rate tax concession for physical commodity trading to attract additional market participants.

The Hong Kong Exchanges and Clearing group also plans to announce details this year for new renminbi-denominated, physically settled gold futures contracts. The government said the contracts are intended to strengthen the currency’s role in precious-metal pricing and provide another channel for international investors to gain renminbi exposure.

Other measures include possible tax concessions for qualifying gold and commodity activities, additional insurance capacity for gold storage and trading, and support for an industry-led trade association. Officials are also examining tokenised warehouse-receipt financing and blockchain-based systems that would allow commodity inventories to be used more flexibly as collateral.

The administration has set a target of lifting Hong Kong’s gold storage capacity to more than 2,000 tonnes within three years. It is also encouraging internationally qualified refiners to establish or expand local operations, with government agencies assisting interested companies in identifying sites and navigating regulatory requirements.

Closer integration with mainland markets is another element of the strategy. The plan calls for wider market access between Hong Kong and mainland gold markets and further collaboration with the Qianhai Mercantile Exchange, including development of renminbi-settled commodity futures, options and spot products.

Chinese President Xi Jinping used the 18th BRICS Summit to argue that countries should pursue development paths suited to their own national conditions, a message that overlapped with the summit’s broader emphasis on policy autonomy, inclusive growth and reform of global institutions.

Addressing the first leaders’ session on September 12, Xi marked 20 years of BRICS cooperation and said members had strengthened themselves through unity while preserving independence in choosing their economic and social models. He described BRICS as an increasingly important platform for emerging markets and developing countries.

The summit’s New Delhi Declaration gave that theme wider institutional form. Leaders called for a more representative international order, greater participation by developing countries in global decision-making and reforms to institutions including the United Nations, World Trade Organization and international financial architecture.

The declaration also reflected the diversity within the expanded grouping. Rather than prescribing a single model of development, BRICS leaders stressed national circumstances, differing capacities and the need for policy space, particularly in areas such as energy transition, industrialisation and climate action. That approach broadly matched Xi’s argument that development strategies should reflect domestic conditions rather than external templates.

Xi sought to extend the idea into technology policy. He proposed an initiative on artificial intelligence-enabled industrialisation, deeper cooperation in research and applications, and stronger industrial and supply-chain links. China also promoted open-source AI collaboration and international platforms intended to improve access to emerging technologies for developing economies.

Other leaders framed similar priorities through their own national perspectives. Prime Minister Narendra Modi emphasised resilience, innovation, cooperation and sustainability, the four themes of India’s 2026 BRICS chairship, and called for solutions developed within the grouping to serve a wider range of developing countries. He also urged members to translate summit commitments into practical programmes.

BRICS members agreed on measures spanning digital cooperation, food and energy security, health, trade facilitation and the use of local currencies in cross-border transactions. The declaration supported stronger payment connectivity while stopping short of endorsing a common BRICS currency.

The economic agenda also underlined the practical test facing the grouping. Members backed use of national currencies in trade and investment, stronger cooperation through the New Development Bank and efforts to improve financial resilience. Such measures are intended to widen financing options for developing economies without committing members to a single monetary framework or common currency.

The expanded bloc now brings together countries with sharply different political systems, strategic alignments and economic structures. That breadth gives BRICS a larger claim to represent developing-country concerns, but it also limits how far members can converge on detailed policy prescriptions. Analysts have noted differences over whether the group should remain primarily an economic and development forum or assume a stronger geopolitical role.

Those tensions were visible alongside the development agenda. Leaders opposed protectionism and unilateral economic measures, supported a stronger multilateral trading system and called for reforms that would increase the voice of developing countries. At the same time, members avoided turning the summit into a unified ideological platform, relying instead on consensus language broad enough to accommodate competing interests.

Xi’s second summit intervention on September 13 placed a “people-centred” development philosophy within a wider call for Global South cooperation. He urged progress on the UN Sustainable Development Goals, improvements to global climate governance and a consensus-based framework for governing artificial intelligence.

China’s approach also carries strategic implications. Beijing has increasingly used BRICS and other multilateral forums to promote its views on development, sovereignty and global governance. Some members share its criticism of unequal representation in international institutions, while others remain cautious about allowing BRICS to become identified with any single country’s geopolitical agenda.

The revised Beijing Unmanned Aircraft Management Regulations, approved by the municipal legislature this month, designate the entire municipality as controlled airspace and prohibit individuals and organisations from keeping drones or key components unless they fall within specified exemptions. Transporting or carrying such equipment into Beijing will also be barred.

The rules mark a significant escalation from restrictions introduced on May 1, when Beijing prohibited drone sales and rentals, required real-name registration and made all outdoor flights subject to approval. Existing owners were previously allowed to retain registered aircraft, but that arrangement will end when the amended regulations take effect.

Authorities have opened several channels for residents to dispose of devices before the deadline. Owners may sell drones at government-approved buyback points, surrender them for recycling, send them outside Beijing by post or carry them out of the municipality themselves. Subsidies are available to individuals whose drones had completed the required police information verification.

For buybacks completed between September 12 and October 31, the subsidy is set at 30 per cent of the transaction price, capped at 3,000 yuan per drone. The rate falls to 15 per cent, with a 1,500-yuan ceiling, for transactions from November 1 to November 14. Scrapping payments are 200 yuan per drone before November and 100 yuan during the first two weeks of November, while eligible postal transfers outside Beijing are free.

The regulations retain exemptions for activities judged necessary for counter-terrorism, emergency rescue, major events, teaching, scientific research, industrial production, agriculture and certain sporting purposes. Such users must undergo security assessment and operate under designated safeguards, while authorised flights remain subject to national aviation requirements.

Beijing’s move follows the June 26 crash of a two-seat Sunward SA 60L Aurora light sport aircraft into Citic Tower, also known as China Zun, in the capital’s central business district. The aircraft struck the 528-metre tower shortly before 6pm after departing from an airfield roughly 50 kilometres east of central Beijing.

The pilot, the only person aboard, was killed and 13 people were injured. Chaoyang district authorities later said the aircraft had left its approved flying area during a solo flight and lost contact with the airport before hitting the skyscraper.

Investigators described the episode as a public-safety incident caused by personal factors involving the pilot. Authorities said he had suffered long-term insomnia and anxiety and that writings recovered during the investigation contained references to ending his life. The finding drew attention to how a light aircraft was able to enter tightly controlled airspace over the capital.

Citic Tower, headquarters of state-owned Citic Group, stands in Beijing’s Chaoyang district near the East Third Ring Road. The impact damaged the building’s glass facade, triggered an evacuation and scattered debris around the surrounding business area.

Beijing had already classified its full administrative territory as controlled airspace for unmanned aircraft. Under the May rules, outdoor drone flights required prior approval from air-traffic authorities, while sales, rentals and the establishment of new storage sites were restricted. Police also introduced information-verification requirements for existing owners, a process that ended on July 31.

The amended framework removes the general option for ordinary residents to keep registered drones inside the municipality. Once the November rules take effect, police will be authorised to inspect storage arrangements, confiscate unlawfully held equipment and impose penalties on individuals and organisations that breach the controls.

Rooted in craft, the showcase explores how Taiwan’s materials, techniques, cultural heritage, and contemporary design can respond to modern lifestyles and international markets. Working across wood, leather, ceramics, paper mulberry bark fibre, mixed media, lighting, and furniture, the seven brands reveal a craft culture that is culturally grounded, adaptable, and forward-looking.

KIMU reinterprets East Asian culture through its concept of “The New Old,” transforming familiar memories and aesthetics into contemporary objects.

Based in southern Taiwan, Lumamiling works with Indigenous barkcloth traditions and paper mulberry fibre, translating ancient techniques into lighting, furniture, and objects relevant to sustainability and contemporary living.

MOTOR design, guided by “An Eastern Soul in a Western Form,” combines mixed materials, cultural perspectives, and advanced manufacturing, with all design and production based in Taiwan.

Inspired by Taiwan’s mosaic tiles and architectural heritage, Pan Pan Hua develops handcrafted ceramic tiles for objects, interiors, architecture, and bespoke spatial applications.

TOMO celebrates the warmth and individuality of wood through close attention to grain, proportion, construction, and the tactile qualities of handcraft.

Furniture brand UMAMI balances materials, proportions, function, and detail like ingredients in cooking, creating adaptable furniture for residential, commercial, and public spaces.

Working primarily with leather, WÈI CRAFT explores material, structure, and storytelling through handcrafted objects designed to evolve beautifully through time and use.

Through Maison&Objet Paris, TAIWAN CRAFTS & DESIGN expands the meaning of “Made in Taiwan”—connecting craftsmanship, cultural depth, design innovation, and production expertise with international designers, architects, buyers, retailers, galleries, and creative professionals.

From Taiwan to the world, the initiative aims not only to make Taiwanese craft visible, but to make it part of the way the world lives.

MAISON&OBJET Pulse
Paris · 10–14 September 2026
TAIWAN CRAFTS & DESIGN PAVILION · Hall 5A · Stand A91
Hashtag: #TaiwanCraftsDesign #NTCRI #MaisonObjet

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This latest season takes viewers beyond the city‘s famous landmarks and into the countryside, where international travelers get their hands in the soil, learn traditional crafts and share everyday meals with local residents. Through these experiences, they discover a different side of rural China and the people who are helping shape its future.

Mountain pulse: A year-round outdoor playground

The mountains of Chongli in Zhangjiakou are more than the backdrop for the 2022 Beijing Winter Olympics. Once best known for their snow-covered slopes, they are increasingly becoming a year-round destination for outdoor activities.

“Winter is for skiing, but summer opens up a whole new world,” said a local outdoor guide.

Since the Winter Olympics, residents have been steadily unlocking the hills’ year-round potential: from mountain biking and trail running to hiking and camping. The mountains no longer fall dormant when the snow melts.

Julian and Juan pedal along forest trails, surrounded by mountain air and the scent of damp earth. At the Chongli 168 Ultra-Trail Race, they stand at the starting line as thousands of runners surge forward – a river of energy that sweeps up everyone watching.

For Juan, the scene strikes a familiar chord. “Mountains don’t have borders,” he said. “The urge to run and challenge yourself in the wild is something we share, whether in Latin America or here.”

Field-rooted well-being: Yoga that grew from the soil

Surrounded by farmland and an open sky, Yugouliang Village sits on a high plateau in northern Zhangjiakou. The village has gained attention for a distinctive form of outdoor yoga practiced among its fields. Unlike the wellness trends often associated with urban gyms and resorts, yoga here has grown naturally out of village life.

“Our yoga comes from farm work,” one villager explained. “It is part of how we live.” Between planting and harvesting, they stretch and breathe, finding stillness in the middle of open fields.

Julian and Juan first experienced another part of village life by making youmian, a local staple made from oats. They kneaded the dough and shaped it by hand, then headed into the fields, where they spread their mats on the earth and practiced yoga alongside local residents.

“This feels familiar,” Juan reflected. “No matter where we are, people want the same things – health, peace, security and a life that feels full.”

Yugouliang offers a different picture of rural China: not a place frozen in the past, but a community that has found its own rhythm and a new sense of well-being amid the fields.

Living heritage remains part of daily life

Located in the southern part of Zhangjiakou, Yuxian is known for its historic settlements, traditional architecture and folk arts. Its ancient buildings have also reached new audiences through popular culture. Some of its architecture has inspired locations in Black Myth: Wukong, the hit Chinese action role-playing game.

Yuxian paper-cutting is one of its best-known folk traditions. “Paper-cutting came from everyday people,” said a master of the craft. “It used to decorate farmhouse windows. Now it reaches the wider world.”

With that spirit in mind, Julian and Juan tried their hand at paper-cutting, fumbling with scissors to produce something far from perfect – but they feel, briefly, what it means to make art out of ordinary life. Here, heritage isn’t sealed behind glass. It’s passed from hand to hand, cut into paper and woven into the fabric of daily existence.

Where clean energy meets modern farming

If Yuxian’s ancient villages preserve the memories of the past, Desheng Village shows how rural communities are looking toward the future. Located in the highland farming region of northern Zhangjiakou, Desheng has embraced modern agriculture and solar power as part of its rural development.

Rows of solar panels stretch across the land, capturing sunlight that once only fed crops. Beneath them, modern greenhouses hum with temperature-controlled precision. It’s agriculture reimagined – and the benefits are tangible.

“We used to depend heavily on the weather,” one villager said “Now technology and sunlight give us new hope.”

Julian and Juan stepped into the greenhouses, picking ripe tomatoes and crisp cucumbers, tasting the sweetness of a harvest that no longer depends on luck. They saw how clean energy revenue flows back into the community – funding schools, roads and public spaces.

As night fell, they joined a bonfire gathering in the village square. Music, laughter and conversation filled the evening air. Around the fire, the visitors saw another side of rural development: a village changing with the times while maintaining the close-knit community spirit that has long defined local life.

More than a journey: Stories shaped by the land

For a new generation of travelers, immersive experiences are offering a more complete picture of rural China. In Zhangjiakou, the countryside is not defined by a single landscape or a single way of life. Chongli’s mountains pulse with year-round energy; Yugouliang’s fields offer a slower rhythm of life; Yuxian’s ancient villages keep traditional architecture and folk crafts alive; and Desheng shows how clean energy and modern agriculture can create new opportunities for rural communities.

Here, tradition and innovation coexist in the same villages, where ancient skills can find new audiences and modern technology can take root in centuries-old communities.

Every village has its own story. From mountain trails and open farmland to historic villages and modern greenhouses, Zhangjiakou reveals a northern Chinese countryside that is more diverse, dynamic and full of possibility than any single image can capture.

Visitors may come for the scenery. But by stepping into village life, they leave with something more lasting: a closer understanding of the people who live on this land, the traditions they carry forward and the future they are building together.

Hashtag: #CGTN

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