On August 13, The Hong Kong Institute of Certified Public Accountants (HKICPA) has submitted its formal consultation response to the Government regarding Hong Kong’s First Five‑Year Plan for Economic and Social Development, after canvassing members’ views to reflect the accounting sector’s practical perspectives. Covering seven core policy areas including green and sustainable finance, talent development, business‑environment reform, Hong‑Kong‑as‑an‑international‑financial‑centre advancement, the proposed Hong Kong Accounting Park, tax optimisation under CEPA and social‑financial inclusion, the submission puts forward targeted proposals aiming to align Hong Kong’s development with China’s 15th Five‑Year Plan, boost local professional‑service competitiveness and consolidate Hong Kong’s status as a leading international financial centre. Key suggestions include adopting HKSSA 5000 for sustainability assurance, developing carbon‑trading mechanisms, setting up a valuation‑professional licensing system, improving corporate‑rescue and accountant‑liability regimes, optimising treasury‑centre tax arrangements and GEM listing rules, building the Hong Kong Accounting Park in the Northern Metropolis to form a Shenzhen‑Hong Kong accounting‑industry corridor, deepening CEPA‑driven service‑sector opening‑up, and rolling out financial‑literacy programmes for grassroots households. HKICPA President Stephen Law emphasised the critical role of national and local five‑year‑plan blueprints; HKICPA urges the government to set measurable KPIs, timetables and review mechanisms for relevant initiatives and publish regular progress updates, and pledges to offer professional assessment, standard‑setting and stakeholder‑consultation support to deliver the plan and contribute to national high‑quality development as well as Hong Kong’s long‑term prosperity and stability.
Source: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2026/08/20260807-6/