Kadin Examines Hong Kong's First Five-Year Plan

The Indonesian Chamber of Commerce and Industry (Kadin) is examining the direction of Hong Kong’s first Five-Year Plan. Steven Marcelino, Secretary General of Kadin Indonesia’s Global Relations Office, stated that one focus of the plan is strengthening Hong Kong’s relationship with ASEAN, including Indonesia. Marcelino said Kadin views Hong Kong and China as important partners because they are among the largest sources of investment for Indonesia. He noted that economic relations with Hong Kong and China need to be maintained in balance with Indonesia’s relations with the United Kingdom, European countries, and the United States, in line with the government’s policy of strategic neutrality and non-alignment. “Especially, there needs to be proactive outreach to increase market confidence and investor confidence,” he said on the sidelines of the Greater Bay Area-ASEAN Summit 2026 in Hong Kong on Tuesday. Marcelino said Kadin gained an overview of the policy direction while attending APEC China 2026 and the China International Supply Chain Expo in Beijing in mid-June. “We heard first-hand many of the main priorities and need to dissect how China’s newly announced Five-Year Plan will be translated,” Steven said. According to Steven, Hong Kong will translate China’s Five-Year Plan into its own development strategy. “One of the components we heard from John Lee is ASEAN and Hong Kong’s engagement with Indonesia,” he said. In his opening speech at the Greater Bay Area-ASEAN Summit 2026, Hong Kong Chief Executive John Lee said his government is drafting Hong Kong’s first Five-Year Plan as a medium-term development blueprint. The document is directed, among other things, at deepening regional cooperation with ASEAN and countries within the Belt and Road Initiative. Lee said Hong Kong’s trade relations with ASEAN continue to strengthen. ASEAN has been Hong Kong’s second-largest merchandise trading partner for 16 consecutive years. The value of merchandise trade between the two sides reached US$214 billion in 2024, an increase of 29 percent compared to the previous year. Meanwhile, the value of services trade reached US$20 billion, up 10 percent. Lee said investment relations are also strengthening. Since the signing of the ASEAN-Hong Kong, China Free Trade Agreement and Investment Agreement nearly a decade ago, Hong Kong’s investment into ASEAN has increased by 54 percent. He said Hong Kong is also applying for accession to the Regional Comprehensive Economic Partnership (RCEP) and is seeking support from ASEAN countries for the process. Lee said more than 830 ASEAN companies were operating in Hong Kong in 2024, an increase of 13 percent compared to the previous year. According to him, these companies are leveraging Hong Kong’s position to access the Chinese market, including the Greater Bay Area.