Hong Kong has always been a city of opportunity – a place where East meets West, where commerce and culture converge. But beyond its legacy as a financial powerhouse, Hong Kong is carving out an identity built on knowledge, innovation and talent.

The Government’s forward-looking policies and strategic investments are transforming the city into a leading destination for higher education, research and cutting-edge industries, ensuring its competitiveness in an increasingly tech-driven global economy.

At the heart of this transformation are our universities, five of which rank in the top 100 around the world. Their state-of-the-art facilities and strong industry partnerships make them critical players in fields like biotechnology, AI and financial technology. These institutions are producing the next generation of leaders and thinkers, many of whom choose to stay and contribute to the economy.

Equally important is nurturing talent. This involves creating pathways that assist recent graduates entering the workforce and attracting professionals from overseas, such as offering competitive compensation packages and meaningful opportunities for skills development and leadership growth. 

The authorities have been proactive in ensuring that Hong Kong remains a magnet for global talent. Initiatives like the Top Talent Pass Scheme and the Technology Talent Admission Scheme are designed to attract skilled professionals. Streamlining visa processes and offering incentives has made it easier for international experts to bring their skills to our shores. This influx of talent is vital for sustaining Hong Kong’s economic diversification, reducing its reliance on traditional industries and fostering new growth areas.

Investment in R&D has also seen a significant boost, with billions earmarked in funding for innovation hubs like the Hong Kong Science Park and InnoHK research clusters. These initiatives go beyond infrastructure development, creating thriving ecosystems where academia, industry and start-ups can collaborate. Additionally, the focus on sectors such as healthtech, green finance and smart city solutions positions Hong Kong at the forefront of global trends, ensuring long-term relevance in a rapidly changing world.

As we advance towards a knowledge-based economy, the business community can actively participate in this transition by fostering closer links between academia and industry. This can be realized through establishing open platforms where academic researchers, entrepreneurs and industry experts can collaborate.

Hong Kong’s future hinges on its next chapter: building a dynamic, innovation-powered economy. By championing our homegrown talent and attracting the world’s best minds, we will strengthen our financial legacy and pioneer the frontiers that will define the next century.

Patrick Yeung
ceo@chamber.org.hk