Industry experts and thought leaders gathered today at the Hong Kong General Chamber of Commerce’s (HKGCC) International Business Summit to explore how Hong Kong can navigate the evolving global economic landscape. The summit, themed “Shifting Economic Center of Gravity: Hong Kong’s Role,” was opened by Chamber Chairman Agnes Chan.
In her opening remarks, Chan reflected on nearly 30 years of progress since the first summit, where the-then Financial Secretary Sir Hamish Macleod outlined how Hong Kong could seize opportunities during challenging times.
HKSAR Financial Secretary Paul Chan provided an update during the summit’s opening keynote session, discussing how Hong Kong can thrive in a multi-polar world marked by geopolitical fragmentation, particularly amid Sino-U.S. tensions and the incoming U.S. administration’s pledge to impose higher tariffs. “Where there are opportunities, money comes,” stated Chan, reaffirming Hong Kong’s resilience in the face of these challenges.
In his keynote address, Chief Executive John Lee emphasized Hong Kong's ranking as the world's freest economy among 165 economies in 2023. He highlighted the city’s essential role as a hub for both international and local businesses seeking new growth opportunities in Hong Kong, the Mainland, and the region. Lee also outlined the HKSAR Government’s outreach efforts to connect with governments, businesses, and investors in the Middle East and Southeast Asia, reinforcing Hong Kong's status as a vital link between East and West in the global marketplace.
The first panel discussion, “ASEAN and Middle East: New Engines for Global Growth,” moderated by Johannes Hack, President of The German Chamber of Commerce in Hong Kong, explored Hong Kong’s role as a bridge between Asia, China and the world as the economic centre of gravity shifts eastward. Panellists Gan Khai Choon, Founder and Chairman of The Malaysian Chamber; Benjamin Hung, President of International at Standard Chartered; Iain Lindsay, Advisor to the Bahrain Economic Development Board; and Dee Poon, President of Brands and Retailing at Tessellation Group examined how the Global South, representing over 85% of the world’s population, is asserting greater influence in the global economy.
In a lively exchange, the panellists emphasized Hong Kong's unique position as a global city and international financial hub. With its robust infrastructure, diverse talent pool, and strong regulatory framework, Hong Kong serves as a super-connector, facilitating trade and investment between emerging markets and established economies.
In the session titled “How New Technologies are Reshaping Our Future,” experts Iñaki Amate, Chairman of the European Chamber of Commerce in Hong Kong; Anne Kerr, Managing Director for Greater China at Mott MacDonald; Kenny Lam, CEO of Two Sigma Asia-Pacific; and Nisa Leung, Managing Partner at Qiming Venture Partners discussed how technologies such as artificial intelligence, blockchain, and big data are transforming sectors like healthcare and education. Moderator Brian Wong, Assistant Professor at HKU, guided discussions on advances in bio-technology, data management, and learning experiences, highlighting the potential of these technologies to drive innovation and create significant value across various industries.
The panel also addressed challenges posed by rapid technological change, including regulatory hurdles, data privacy, and the need for workforce reskilling. They emphasized the importance of collaboration among stakeholders to harness technology responsibly for future growth.
The summit concluded with a keynote speech by Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council. He shared insights from his recent visit to the Mainland and conveyed the sentiments of European politicians and businesses regarding the emerging economies of the Middle East and ASEAN. In a captivating exchange moderated by former Chamber Chairman YK Pang, they discussed issues ranging from historical perspectives to strengthening China-UK cooperation. Sir Sherard suggested that recent unfounded allegations from U.S. hawks regarding Hong Kong’s financial sector were more about provoking a reaction than reflecting any credible concerns.
HKGCC would like to thank all speakers and guests who attended and helped to make the summit such a success, especially the 15 HKGCC companies who sponsored the summit. Platinum Sponsors: EY; Hactl; and Jardine Matheson; Gold Sponsors: Bank of China (Hong Kong); CK Group; CLP; HSBC; MTR Corporation Limited; New World Development; Sino Group; Standard Chartered; Sun Hung Kai Properties Limited; Swire; Wheelock and Company Limited; and Yue Hwa Chinese Products Emporium Limited.
In his keynote address, Chief Executive John Lee emphasized Hong Kong's essential role as a hub for both international and local businesses seeking new growth opportunities in the region.
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Chamber Chairman Agnes Chan, thanks Chief Executive John Lee for speaking at the International Business Summit, together with L-R: Vice Chairman Douglas Woo, Deputy Chairman Guy Bradley, and Vice Chairman PC Yu (Right
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“Where there are opportunities, money comes,” Financial Secretary Paul Chan told the full house.
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During the panel discussion, “ASEAN and Middle East: New Engines for Global Growth,” speakers explored Hong Kong’s role as a bridge between Asia, China and the world as the economic center of gravity shifts eastward.
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During the panel “How New Technologies are Reshaping Our Future,” experts discussed how technologies such as artificial intelligence, blockchain, and big data are transforming sectors like healthcare and education.
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Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council, shared insights from his recent visit to the Mainland and conveyed the sentiments of European politicians and businesses regarding the emerging economies of the Middle East and ASEAN. |
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