Professor Christine Loh posed some thought-provoking questions at the Chamber’s “CEO 123 Tell Me More” talk. She pointed out that Hong Kong has gone through some remarkable chapters in its history, and we all can relate to a specific date or event which is etched on our memories and hearts. For her, it was the riots and bombs in Central from the cultural revolution post World War II. From such chaos, Hong Kong rose into Asia’s leading Tiger, demolished squatter huts and built public housing to provide homes for 45% of the population. And from reunification and closer integration with the GBA, Hong Kong’s growth and development has been relentless. While critics may try to argue that Covid saw our population shrink and represented the start of the end of Hong Kong, as a transient city, there have always been ebbs and flows in tides of people living in global cities. Today, at 7.5 million, our population continues to notch new highs. For the coming chapters in our history, we are moments in time shaping our future. We definitely have many strengths, but also we must acknowledge our weaknesses to address these threats and reinforce our advantages. Our next enlightening talk will be with Professor KC Chan, Chairman of WeLab Bank, on 8 May. He will explore Hong Kong’s future as a global financial hub, and our role in the Mainland, ASEAN and the world. Please sign up today to secure your seat: https://lnkd.in/gPwwRvmE #hkgcc #hongkong #history #globalfinancialhub #gba #mainland #asean
Hong Kong General Chamber of Commerce (HKGCC) 香港總商會’s Post
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Great news! Hong Kong has regained its cherished ranking as the world's freest economy. The Economic Freedom of the World 2024 Annual Report by Canada-based The Fraser Institute (Oct 16) ranks Hong Kong No.1 among 165 economies around the world, up one place from last year. Among the areas of assessment, Hong Kong ranks top for "Freedom to trade internationally" and "Regulation" and third for "Sound money". The Hong Kong SAR Government said that "Hong Kong has fully leveraged the advantages of a free market, and maintained a free, open, effective and fair business environment. The ranking fully reflects the international recognition of these advantages." https://lnkd.in/gMsnyhJJ https://lnkd.in/gTa7CgPr #hongkong #brandhongkong #asiasworldcity #freesteconomy #excellencehk
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Great news! Hong Kong has regained its cherished ranking as the world's freest economy. The Economic Freedom of the World 2024 Annual Report by Canada-based The Fraser Institute (Oct 16) ranks Hong Kong No.1 among 165 economies around the world, up one place from last year. Among the areas of assessment, Hong Kong ranks top for "Freedom to trade internationally" and "Regulation" and third for "Sound money". The Hong Kong SAR Government said that "Hong Kong has fully leveraged the advantages of a free market, and maintained a free, open, effective and fair business environment. The ranking fully reflects the international recognition of these advantages." https://lnkd.in/gMsnyhJJ https://lnkd.in/gTa7CgPr #hongkong #brandhongkong #asiasworldcity #freesteconomy #excellencehk
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Great news! Hong Kong has regained its cherished ranking as the world's freest economy. The Economic Freedom of the World 2024 Annual Report by Canada-based Fraser Institute (Oct 16) ranks Hong Kong No.1 among 165 economies around the world, up one place from last year. Among the areas of assessment, Hong Kong ranks top for "Freedom to trade internationally" and "Regulation" and third for "Sound money". The Hong Kong SAR Government said that "Hong Kong has fully leveraged the advantages of a free market, and maintained a free, open, effective and fair business environment. The ranking fully reflects the international recognition of these advantages." 👇 Find out more here: https://ow.ly/1UBi50TO82r 📝 Read the press release here: https://ow.ly/PWp850TO82s #hketoberlin #hongkong #brandhongkong #asiasworldcity #freesteconomy #excellencehk
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團結香港基金 Our Hong Kong Foundation (OHKF) and the Center for China and Globalization co-organised the “Rethink Hong Kong Forum: Hong Kong’s New Role as an International City under the New Normal” (the Forum) on 2 December. In today's rapidly changing global arena, there are multifaceted challenges and opportunities. Hong Kong, as a "super-connector" and "super value-adder", has unique advantages and roles in many aspects, including systems, environments, and talent. The aims of the Forum were to identify strategies for achieving breakthroughs in a complex environment, to promote continuous exchange and collaboration between the East and the West, and to explore new opportunities under the policy framework of the Guangdong-Hong Kong-Macao Greater Bay Area, ASEAN, and all countries and regions along the Belt and Road. Bernard Charnwut Chan, Chairman of OHKF, and Chairman & President of Asia Financial Holdings Limited, pointed out that, in the past 20 years, in Mainland China, extreme poverty has been effectively addressed, and corruption has also been tackled. He stated that this top-down approach appears to be a more effective solution than the so-called "checks and balances" system that people are familiar with in the Western world. He continued that it makes Hong Kong start to think about which ideology should be the right way forward. #HongKong #Positioning #Role #BeltandRoadInitiative #BRI #ASEAN #Internationalisation #Globalisation #Geopolitics #Geoeconomic
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As a self-professed public policy wonk who has spent a good amount of his career working on survey research for policy issues surrounding enterprises in Singapore, such as access to financing, internationalisation and digitalisation, I always found my current role in covering other economies outside of Singapore to be interesting, if only to compare what's going on. The Policy Address from Hong Kong is one of the more familiar ones. Singaporeans like myself associate annual speeches with the National Day Rally speech held 1-2 weeks after August, where the PM of the day share policy updates and major announcements and to deliver his thinking on key topics. The annual Policy Addresses in Hong Kong works similarly, and is actually mandated under Article 64 of the Basic Law, which requires the government to "present regular Policy Addresses to the [Legislative] Council". Hence, pouring over these speeches has always been useful to know what are the commitments like for the future. The economic policy direction under Chief Executive John Lee has been on keeping Hong Kong to the contours of its prevailing successes while making tweaks to the policy margins. To that end, John Lee's third Policy Address kept to this broad theme. But it is also marked by a closer policy alignment with Mainland China. This reinforces the thinking that, where China's fortunes go, so will Hong Kong's. #economy #Hongkong #China #macro #policyaddress
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We are thrilled to share that Hong Kong has risen to fifth place in the latest World Competitiveness Yearbook (WCY) 2024, published by the International Institute for Management Development (IMD). This marks a two-place improvement from last year! Highlights: - 1st in "International Trade" and "Business Legislation" - 2nd in "Tax Policy" - Top 3 in "Government Efficiency", "International Investment" and "Basic Infrastructure" - Top 4 in "Finance", and "Education" - Top 10 in "Business Efficiency" and "Infrastructure" - Significant improvement in "Economic Performance" A government spokesperson emphasized, “With the unwavering support from the Central Government, Hong Kong’s economy is on a robust recovery path post-epidemic. Our strategic measures to boost market confidence, tourism, and consumption are bearing fruit, and we continue to attract global enterprises, capital, and talent." Strategic Focus: - Financial services - Innovation and technology - Trading - Green transformation - Digital economy development Under the "one country, two systems" framework, Hong Kong uniquely blends Chinese and international advantages. As a "super-connector" and "super value-adder," Hong Kong remains committed to integrating into national development strategies, expanding economic capacity, and enhancing competitiveness. See the full report by IMD at: https://lnkd.in/dzknKBUy Image credits: Brand Hong Kong #HongKong #Competitiveness #EconomicGrowth #IMD #Innovation #GlobalTrade #FinancialServices #SustainableDevelopment #DigitalEconomy
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One thing about John Lee's speech...... Hong Kong is a capitalist system in which the government takes a secondary role to private initiative. I do not think that the Hong Kong government *CAN* fix the structural and deep issues of the HK economy, because in a capitalist system the government doesn't provide leadership. That's the difference between Hong Kong and Mainland China. In the Mainland, the Communist Party of China plays a leading role in economic management, so if things suck, its their fault. Hong Kong practices the capitalist system in which the government really can't do very much. The most they can to is to provide bandages and let the private sector do its work. But one thing that I like about Hong Kong's capitalist system is that when things suck, I don't look at John Lee to see what can be done, I look in the mirror and try to figure out what I can do to improve the HK economy. I don't want to talk too much because 1) I need to just do it and 2) I keep my private business conversations private. But there is so much cool stuff that I am doing, that I am generally optimistic about the future. Of course, like any human I have my moments of "holy crap, we are screwed" but that passes quickly.
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Excellent & concise right up on why HK is special. This SCMP commentary suggests get going with the leaders [HK lost 2 decades ago, cemented in 2020] HK folks had proud arrogance to be subjects of the UK. https://lnkd.in/gux95Fai Just like pre1998. HongKong’s strengths- GlobalFinancialCentre, supported by its robust legal systems &advanced infrastructure, are significant advantages &unlikely to diminish. City’s reputation as beacon of economic freedom attracts businesspeople &professionals seeking advancement, as its entrepreneurial spirit remains vibrant. In tech innovation& industry, HongKong still lags behind the other “Asian dragons”. SouthKorea, Singapore &Taiwan are established tech hubs for global manufacturing &Information technology. Latecomer, HongKong faces unique advantages &challenges. But HongKong’s academic excellence is remarkable. Over 1,500 scientists from the city among World’s top 2%most cited- 13 ranked w/top 10 globally in their fields, according to a list by StanfordUniversity &Elsevier. Surpassing Taiwan &Singapore in these rankings is a testament to HongKong’s commitment to advancing knowledge &innovation.
One thing about John Lee's speech...... Hong Kong is a capitalist system in which the government takes a secondary role to private initiative. I do not think that the Hong Kong government *CAN* fix the structural and deep issues of the HK economy, because in a capitalist system the government doesn't provide leadership. That's the difference between Hong Kong and Mainland China. In the Mainland, the Communist Party of China plays a leading role in economic management, so if things suck, its their fault. Hong Kong practices the capitalist system in which the government really can't do very much. The most they can to is to provide bandages and let the private sector do its work. But one thing that I like about Hong Kong's capitalist system is that when things suck, I don't look at John Lee to see what can be done, I look in the mirror and try to figure out what I can do to improve the HK economy. I don't want to talk too much because 1) I need to just do it and 2) I keep my private business conversations private. But there is so much cool stuff that I am doing, that I am generally optimistic about the future. Of course, like any human I have my moments of "holy crap, we are screwed" but that passes quickly.
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The HKSAR Government remarked in a recent statement that Hong Kong's economy is growing steadily, having achieved a positive growth rate of 3.3% in 2023 and it is estimated that there will be a growth of about 2.5% to 3.5% for 2024. There are also figures demonstrating the city's remarkable results in attracting talent, enterprises and investments. For instance, as of 2023, there were over 9,000 companies in Hong Kong with their headquarters in the Mainland or overseas. In attracting strategic enterprises, more than 50 companies have established or expanded their business in the city, or will do so in the future, and they are expected to bring over HK$40 billion in investment and over 13,000 job opportunities in the coming few years. Various data and facts not only reflect the performance of Hong Kong's economic and financial development, but more importantly, highlight Hong Kong's unique advantages and strategic position under the "one country, two systems" principle, as well as its resilience and flexibility. Read more… https://lnkd.in/eaG54eNJ
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Policy + politics; environment, energy, climate, non-market risks; convening multi-stakeholders dialogue; and author.
9moIt was my honour to speak about an issue I am passionate about. We are the people of HK - we are dedicated to its betterment in good and bad times. The future is a matter of choice of the people of this city. The future of any city is the culmination of the many actions of its residents. Let's keep ploughing forward.