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Editorial
Trade promotion body’s role evolving with Hong Kong’s economy
As the Trade Development Council marks its 60th anniversary, its remit now reflects closer ties with the mainland and changes in the global economy
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Editorials represent the views of the South China Morning Post on the issues of the day.
Few public bodies reflect Hong Kong’s identity as a global business hub as much as the Trade Development Council (TDC). As it celebrates its 60th anniversary, its mission has expanded beyond promoting small and medium-sized local firms to the outside world to now include helping mainland firms connect with Hong Kong and beyond.
The city’s economy has shifted from a focus on manufacturing when the TDC first launched to services and hi-tech fields. China has become the world’s second-largest economy. Today, the TDC’s biggest mission is in China while its biggest challenge is in the United States.
Last year, it announced a strategic alliance with the Bank of China to encourage mainland Chinese companies to use the city as a “superconnector” for venturing overseas. Of its network of 51 offices, 13 are on the mainland.
As the on-and-off trade war between the two superpowers drags on, some US politicians have called for the closure of the Hong Kong government’s three Economic and Trade Offices in the US. Seen as more neutral, the TDC needs to double down on promoting and explaining Hong Kong’s unique role to Washington.
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