Hong Kong’s first five-year plan will be judged not by how many initiatives it assembles. It includes the Northern Metropolis; Hong Kong’s roles as an international financial, trade, maritime and aviation centre; integration with the Greater Bay Area and supporting the Belt and Road Initiative; and social priorities such as housing, education and manpower. It must express ambition commensurate with the national 15th five-year plan and subsequent documents elaborating national priorities. The Northern Metropolis itself should be a mission: exceptional design and integration that create economic, social, environmental and land value. In finance, deepening equity and bond markets, expanding asset and wealth management, developing fintech and consolidating Hong Kong’s role as the leading offshore renminbi centre are important but already expected.