Hong Kong to draft its first Five-Year Plan

As Hong Kong approaches the 30th anniversary of its return to China, Chief Executive John Lee Ka-chiu has revealed that the city is exploring the development of its first-ever Five-Year Plan. The initiative is expected to focus on economic growth, improving livelihoods, and strengthening the city's global competitiveness, before undergoing public consultation. Why is Hong Kong considering a Five-Year Plan now? How would such a framework work in a city long known for its market-driven governance?