Hong Kong’s first five-year plan and latest Policy Address will offer clearer direction for future investment and business development as the city deepens economic ties with Belt and Road regions and the Global South, Financial Secretary Paul Chan said on Sunday.

Writing in his weekly blog, Chan said Hong Kong’s growing innovation capabilities were creating new opportunities, with cooperation with the Middle East expanding beyond finance into industry-focused innovation and technology.

He said collaboration with Belt and Road partners was also evolving from individual projects into broader connections, supported by Hong Kong’s research and innovation strengths.

The city’s startup ecosystem has grown rapidly, with the number of startups rising from more than 1,500 in 2015 to over 5,200 last year.

For partners in the Middle East and Central Asia, Chan said, Hong Kong offers commercially viable innovation and high-end industrial capabilities. Combined with the Greater Bay Area’s advanced manufacturing capacity and vast market, these strengths could generate both commercial returns and wider development benefits.