Hong Kong pursues economic growth and financial innovation

Hong Kong officials and business leaders are focusing on integrating the city's development plans with China's national economic strategy, known as the 15th Five-Year Plan, to promote growth. They also aim to strengthen Hong Kong's role within the Greater Bay Area, a major economic region in southern China.

In the financial sector, Hong Kong is moving to license major banks like HSBC and Standard Chartered to issue stablecoins, a type of cryptocurrency. At the same time, authorities conducted raids on the offices of two large Chinese brokerages, Citic and Guotai Junan.