He said the agenda centers on boosting the use of offshore yuan and stepping up cross-border investment with mainland China.
Lee said authorities aim to broaden offshore yuan investment options and risk-management tools. He added that Hong Kong will look to broaden mutual market access through initiatives that include Stock Connect, Bond Connect and Wealth Management Connect.
Among the plan's aims: build out commodity trading and use finance to spur innovation and technology. A key element is the Northern Metropolis adjacent to the mainland Chinese frontier, which Lee said will integrate university districts with industry and tech, while creating conditions suitable for living, working and traveling.
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Lee plans to present the blueprint to the Legislative Council on Sept. 16, ahead of his policy address. Designed to dovetail with mainland China's 15th Five-Year Plan, the five-year roadmap seeks closer synchronization of Hong Kong's priorities, while operating under what a consultation document labeled "market-led and government-guided." At the same luncheon, Securities and Futures Commission CEO Julia Leung said the regulator's priorities include overseeing both risks and potential benefits as the finance industry adopts artificial intelligence, and it will continue to back offshore yuan usage.
