In this Sunday, April 12, 2015 photo, mainland tourists carry suitcases as they walk at a shopping district in Hong Kong.[Photo/Agencies]

This year is the first of the 13th Five-Year Plan (2016-20) period. It also signals the decisive step toward building a moderately well-off society, which is important for the whole of China, including Hong Kong. Hong Kong's development is closely related to that of the rest of the country, hence it should position itself well and set its own goals within the national development strategy.

The 13th Five-Year Plan has clarified the Hong Kong Special Administrative Region's position and target in the national development strategy. During the period, cooperation between the SAR and the mainland will be deepened on the principles of "One Country, Two Systems" and "Hong Kong people administering Hong Kong", and the SAR will continue to enjoy a high degree of autonomy.

Hong Kong should cash in on its unique advantages, improving its status and function in the national economic development. The central government will support the SAR to develop its economy, improve its residents' livelihoods, advance democracy and promote harmony. Contrary to some speculations over Hong Kong's bleak outlook, it still has great potential to strengthen its status as an international financial, shipping and trade hub, as well as a pearl along the Belt and Road.

Hong Kong has to initiate measures to add to its advantage as an offshore business center for the yuan, and further develop its high-end and high value-added services, including financing, trade and logistics. To achieve these goals, it has to give full play to its unique advantages both in hard power and soft power to accelerate its development.

In terms of hard power, Hong Kong is an international financial, shipping and trade center with an excellent infrastructure, including one of the best airports and subways in the world, excellent public transport services, efficient commercial facilities and famous tourist attractions such as Disneyland and Ocean Park.