As we commemorate the 76th anniversary of China’s founding, Hong Kong stands at a pivotal moment, thriving under the “One Country, Two Systems” principle and serving as a dynamic contributor to the nation’s development.
The recent V-Day parade was a fitting display of China’s technological advancement, emphasizing national strength, unity and modernization. In this new era, Hong Kong continues to serve as an intrinsic link between East and West, supporting global connectivity through initiatives like the Belt and Road. This is exemplified by the success of the 10th Belt and Road Summit in Hong Kong last month, which drew over 6,000 participants.
This vital role is enabled by Hong Kong’s high degree of autonomy, which safeguards its common law system, maintains robust financial structures and supports its extensive global networks. As Chief Executive John Lee has noted, the “One Country, Two Systems” framework remains the foundation of the city’s prosperity.
Capitalizing on these advantages, Hong Kong is increasingly engaging with the Mainland’s technological progress and investor-friendly policies, integrating further with the nation’s goals. These developments allow Hong Kong to flourish as a critical gateway city, channelling innovation into global markets while offering local firms access to new technologies.
A testament to this is the rise of the Shenzhen-Hong Kong-Guangzhou innovation cluster, which has been ranked number one globally in the World Intellectual Property Organisation’s (WIPO) latest report.
This accomplishment highlights the transformative power of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in bolstering Hong Kong’s development while serving as an essential platform for enhanced integration. As a core GBA city, Hong Kong is uniquely positioned to promote cross-border collaboration and amplify global outreach, enhancing China’s position as a competitive economic powerhouse.
Against this promising backdrop, Hong Kong’s business community continues to strengthen its Mainland links. The Chamber has organized several missions to the Mainland and all the GBA cities, with repeat visits planned, connecting our members with local governments and helping businesses expand and seek opportunities in various sectors.
As traditional sectors face saturation and heightened international competition, fresh avenues for cooperation are arising in innovation and technology, healthcare and education. The establishment of the GBA Standards across sectors, including food quality and safety, transportation and medical care, is proving instrumental in advancing regional integration. For companies operating in the region, adopting these benchmarks is essential to sustaining competitiveness.
In a world adapting to economic and geopolitical shifts, Hong Kong’s international connectivity and close ties with the Mainland constitute a strong foundation for growth. As we celebrate the nation’s progress, it is time to seize new opportunities and shape a bold, forward-looking future.
Agnes Chan
chairman@chamber.org.hk