Hong Kong's Chief Executive John Lee Ka-chiu has announced plans to unveil a comprehensive blueprint for the creative industry on November 28, 2024. This initiative aims to enhance the creative and cultural sectors in alignment with Beijing's 14th five-year development plan. Lee emphasized the urgency of completing this blueprint, which will include four key positions: promoting Chinese culture, developing diverse creative industries, building an international platform for cultural exchanges, and refining the ecosystem for creative industries [a743fc91].
The blueprint is expected to introduce 71 measures designed to support the development of these sectors, with projections indicating that the economic benefits from the creative industries could rise from HK$120 billion (approximately US$15.4 billion) in 2022 to HK$200 billion by 2034. Additionally, job creation within these industries is anticipated to increase from 230,000 to 264,000 positions [a743fc91].
This initiative complements the ongoing push for 'new quality productive forces' in Hong Kong's economy, as highlighted by Lee during his recent visit to the Productivity Council on October 9, 2024. He reiterated the importance of high-end smart manufacturing and the transformation of traditional industries through technological innovation [2d1e67f9].
The integration of creative industries into Hong Kong's economic strategy reflects a broader commitment to fostering innovation and technological advancement. The upcoming policy address on October 15, 2024, is expected to further elaborate on these initiatives, showcasing how the government plans to position Hong Kong competitively within the Greater Bay Area [2d1e67f9].
As Hong Kong navigates its economic future, the emphasis on both creative and technological sectors is crucial for enhancing its resilience and competitiveness in the global market. The collaboration between the government and industry stakeholders will be vital in realizing the ambitious goals set forth in the new blueprint [a743fc91].