Opinion | Hong Kong is the key to stronger China-Asean ties
- As opportunities for cooperation between China and Asean grow, Hong Kong can benefit from its long-standing ties with both
- Hong Kong has the infrastructure and expertise to facilitate trade, investment and cultural changes between the two
Hong Kong is strategically located on the route connecting mainland China with the world’s fastest-growing market, the Association of Southeast Asian Nations (Asean). The city is also one of the few places with long-standing, robust connections with both.
Combined, the 10-member Asean is the world’s fifth largest economy, and is on track to become the fourth by the end of this decade. It is also the world’s third-most populous economy with a combined population of 660 million in 2020.
With a median age of 30.3 years, the region’s young population has enormous consumption power. The World Economic Forum has predicted that in the next 10 years, Asean will add 140 million consumers to the global market, while its GDP per capita will grow at an average annual rate of 4 per cent.
