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SCMP Editorial
SCMP Editorial

Editorial | Hong Kong must start work on a better future in the new year

With a spirit of togetherness, the city can forge ahead in 2026 with optimism and hope, despite global uncertainties

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A junk boat sails across Victoria Harbour on February 27. Photo: Sam Tsang
SCMP Editorial

The dawning of a new year is a time for looking ahead and working towards a better future. We embark on 2026 with the world facing economic uncertainty, geopolitical tensions, climate change and conflict. Nations need to work together. The strained relationship between China and the US will be key. There could be as many as four face-to-face meetings between Presidents Xi Jinping and Donald Trump this year.

Trump is due to visit China in April, with Xi possibly heading to the United States later in the year. Shenzhen will host the Asia-Pacific Economic Cooperation leaders’ meeting in November before Miami stages the Group of 20 gathering.

The two leaders held constructive talks in October, which de-escalated tensions. Further meetings would provide valuable opportunities to improve ties. But the relationship will continue to be volatile, following Trump’s renewal of his trade war in 2025. China is seeking to cushion external shocks by relying less on exports and becoming more self-reliant, especially in technology. The push for “high-quality development” will accelerate. Beijing’s 15th five-year plan will be approved at the “two sessions” political meetings in March. It calls for the deepening of reforms and the building of a modern industrial system and a robust domestic market.
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Hong Kong needs to seize opportunities offered by the plan, strengthening its role as a financial, shipping, trade, innovation and technology centre while acting as China’s “superconnector”.

The city’s New Year’s celebrations were understandably subdued after the Tai Po fire in which at least 161 lives were lost. The traditional firework display was cancelled. Helping those affected rebuild their lives and implementing wide-ranging reforms to prevent similar tragedies will be the immediate priorities.
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But Hong Kong must also forge ahead on many other fronts, furthering integration with the mainland and playing a key role in the development of the Greater Bay Area. Steady progress has been made since the pandemic, with talent, tourists and investment attracted. The stock market has performed well and the opening of Kai Tak Sports Park last year has also given the city a boost.

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