Navigating a world marked by geopolitical turbulence and economic instability requires Hong Kong to build confidence, accelerate smart city transformation and enhance resilience. This three-pronged strategy forms the core of our proposals for the Chief Executive’s Policy Address this month.
To support this strategy, Hong Kong must sharpen its competitive edge as a free port and international financial centre by strengthening its business-friendly environment and attracting global companies and talent. A targeted marketing campaign highlighting our unique advantages under the “One Country, Two Systems” principle – from our robust rule of law to unparalleled international connectivity – would reinforce Hong Kong’s position as the preferred destination for regional headquarters.
Complementing these efforts, Hong Kong can fuel growth in an era defined by technological disruption by attracting and retaining diverse, future-ready talent, particularly from key markets like ASEAN and the Middle East. Strategic investment in upskilling our workforce – specifically in AI and digital innovation by identifying talent gaps and expanding university programmes – is crucial for advancing our smart city ambitions.
To further reinforce our economic foundation, the development of the financial sector must continue. Extending stablecoin licensing to include renminbi-pegged assets, piloting real-world asset tokenisation and establishing a 24/7 gold trading platform would solidify Hong Kong’s leadership in fintech. In intellectual property, adopting global valuation standards and promoting IP financing would unlock new investment avenues.
At the same time, revitalizing our retail and F&B sectors is essential. Measures such as lease subsidies for restaurants and relaxed regulations for pet-friendly dining could restore street-level vibrancy. Concurrently, a campaign showcasing the city’s rich cultural and culinary experiences can reignite spending among both residents and tourists.
Looking ahead, the Northern Metropolis represents our future growth engine and a foundation for resilience, integrating innovation, sustainability and housing. Despite fiscal pressures, strategic investment in this project is critical. Equally imperative is progress toward our 2050 carbon neutrality goal. Our proposals include mandating energy performance disclosures for buildings, boosting EV subsidies, developing green marine fuel hubs and incentivizing SAF adoption.
Demographic challenges, including a declining birth rate and an ageing population, require proactive strategies in healthcare, housing and child support to ensure long-term economic sustainability and an improved quality of life.
The decisions we make today will define our city tomorrow. The Chamber looks forward to the unveiling of the Chief Executive’s new policies, which we trust will fortify Hong Kong’s status as a leading global business hub and inspire renewed confidence in our remarkable city.
Agnes Chan
chairman@chamber.org.hk