Why Hong Kong businesses need its neighbours’ soil and worms to boom
Hong Kong needs to combine its strengths in finance, rule of law and international links with China’s technology, manufacturing and logistics capabilities to stay competitive
Hong Kong should embrace what its mainland neighbours have to offer and do more to augment innovation and the adoption of new technology to ensure that it remains a key business gateway between China and the rest of the world, speakers at a South China Morning Post seminar said yesterday.
People, businesses and government should have a mindset change, and catch up on new technology utilisation in industries ranging from finance to transportation, they told the forum titled “Celebrating Hong Kong’s Coming of Age” to mark the city’s 20th anniversary as a special administrative region of China on July 1.
“Instead of thinking I am a Hongkonger, think I am a [Greater] Bay Area person,” said Witman Hung, the principal liaison officer for Hong Kong of the Shenzhen Qianhai Authority. “If you look at the ecosystem, the bacteria and worms are as important as the flowers. You can’t say I want to be a flower, forget about the worm and the soil.”
He urged Hong Kong businesses to combine their strengths in finance, access to capital, rule of law and international links with mainland China’s technology, manufacturing and logistics capabilities. “It is only then you become an important part of the Bay Area [where] you will still have a role to play,” he said.
If you look at the ecosystem, the bacteria and worms are as important as the flowers. You can’t say I want to be a flower, forget about the worm and the soil
The Guangdong-Hong Kong-Macau Greater Bay Area concept dates back to 2011 when Beijing initiated a study that aimed to integrate and better develop economies in the Pearl River Estuary region.
