Hong Kong is more than just a link in China’s regional development plans

Tara Joseph says while Hong Kong has an important role to play in China’s regional objectives like the Greater Bay Area and belt and road, it has unique characteristics that separate it from the rest of the nation, and the government must promote them to ensure a bright future

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A view of Victoria Peak and Central District from Victoria Harbour at night in July. Hong Kong is a great experiment in a melding of Eastern and Western culture. Photo: AP

Published: 11:05am, 20 Oct 2017Updated: 11:05am, 20 Oct 2017

The ink has long since dried on Chief Executive Carrie Lam Cheng Yuet-ngor’s maiden policy address. Her 40-minute speech and the much longer online version have been thoroughly dissected, revealing multiple references to China’s Belt and Road Initiative and its Greater Bay Area scheme.

This is not a big surprise. If you live in Hong Kong and follow the news, you are well aware of how Hong Kong emphasises its relevance to the belt and road scheme, China’s effort to create greater connectivity among Eurasian countries, and the development of the Greater Bay Area, linking Hong Kong with 11 southern Chinese cities.

Visitors take photos in June, in Shenzhen, part of China's urbanisation push to develop the Greater Bay Area, which includes 11 cities in total, including Hong Kong. Photo: EPA/STR

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These initiatives may well hold opportunities for Hong Kong’s international business community, playing to the city’s strengths as a connector to the rest of the world and mainland China, especially in sectors like project finance, law and logistics. Under Lam’s leadership, Hong Kong could help shape a brighter future, provided it carves out its own role within these large projects.

But it should not be forgotten that Hong Kong already has a well-developed international stature, making it a leading global city with a reach beyond regional initiatives. While it makes sense for Hong Kong to align with China’s national strategies under “one country”, Hong Kong can also trumpet its distinct “two systems” advantage to safeguard its economic and international influence, especially with a new chief executive who is open to the media and travels widely.

Chief Executive Carrie Lam meets the press before an Executive Council meeting at the government headquarters in Tamar on October 17. Photo: Sam Tsang

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Not many cities in this highly competitive world have special status within a fast-growing region. The opportunity is in the hands of the Hong Kong SAR, though it requires leadership, cooperation among government departments and drive to make “one country, two systems” a resounding success, rather than a binding bilateral treaty with a 50-year shelf life.