Published on: 2026-09-16
Source: People’s Republic of China — Translation
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Hong Kong, September 16 /Xinhua/ — Hong Kong intends to raise the share of total domestic expenditure on innovation activities to 3 percent of its Gross Regional Product (GRP) after 2030, amid efforts to transform emerging industries into new growth drivers, according to the first Five-Year Socio-Economic Development Plan (2026-2030) of the Hong Kong SAR presented on Wednesday.
According to the document, by the end of 2024, this indicator amounted to 1.63 percent.
Xianggang also expects that after 2030, the share of value added from the manufacturing industry and new sectors related to industrialization in the GRP will increase to 5.5 percent from 3.8 percent in 2024.
Among other development goals outlined in the plan, there is a target to increase the added value of the tourism industry by about 40-50 percent by 2030 to 126 billion Hong Kong dollars /16.06 billion US dollars/. -0-
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