Retrofitting Hong Kong is all about reinforcing strengths and tackling future challenges

The Hong Kong General Chamber of Commerce will be holding its annual Business Summit later this week and I have been asked to share my thoughts on how Hong Kong can enhance its relevance and extend its role as a leading business and financial hub in Asia and catch up as a smart city through innovation, technology, sustainability and liveability measures.

This coincides with last week’s publication for public engagement of the government’s Hong Kong 2030+ study which is designed to update the territorial development strategy to guide planning, land and infrastructure development and to shape the built and natural environment of the city beyond 2030. This is obviously a very useful contribution to any discussion about the future development of Hong Kong, particularly as the study adopts a visionary, proactive, pragmatic and action orientated approach to respond to the changing circumstances and challenges ahead.

The study recognises the changing demographics, particularly the ageing population, the fact that innovation and technology must be acknowledged as key drivers and the need for action in relation to climate change. It also acknowledges the aspiration for enhanced liveability in the context of a high density city, for adopting a much longer term view to meet land requirements, and the need to embrace new economic challenges and opportunities and to create capacity for sustainable growth.

Clearly, the update and issue of the 2030+ proposals are welcome and provide a useful context for a discussion as to how Hong Kong should retrofit itself and repackage and reposition to address challenges yet, at the same time, embrace opportunities. The reality is that we need to stop dreaming and wake up to the fact that there is much to be done if Hong Kong is to remain relevant in the future. It is fine to be aspirational but as we all know it is all about delivery and this is where we constantly trip up.