Greater Bay Area

Driven by innovation, Hong Kong competes for a new track in a multipolar world

2025-11-19   

Faced with the accelerated evolution of the century old changes and profound adjustments in the world economic landscape, Hong Kong is ushering in new development opportunities. At the International Forum 2025 on "China's Economic Operation and Policies under the Multi polar World Pattern" held on the 18th, experts and scholars attending the forum generally believed that under the guidance of the "One Country, Two Systems" policy, Hong Kong can continue to consolidate and enhance its international hub position and serve the overall development of the country by leveraging its unique advantages of relying on the motherland and connecting with the world. Cai Guanshen, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and President of the Hong Kong Chinese General Chamber of Commerce, stated that under the "One Country, Two Systems" policy, Hong Kong's biggest advantage is its "internal connectivity and external connectivity", which is an important bridge connecting the internal and external circulation. Hong Kong can take the development of the northern metropolitan area as an opportunity to collaborate with Shenzhen in planning and constructing a Hong Kong Shenzhen super cooperation zone that integrates technological innovation, high-end manufacturing, and modern services. This will form an ecosystem that integrates government, industry, academia, research, and investment, and help mainland science and technology innovation enterprises go global. Zhao Zhimin, Secretary General and member of the Party Group of the Chinese Academy of Social Sciences, delivered a speech stating that in order to maintain long-term prosperity and stability during the 15th Five Year Plan period, Hong Kong must fully leverage its unique advantages of relying on the motherland and connecting with the world, and further enhance its national consciousness and international perspective. Especially, we need to accelerate the construction of the Hong Kong International Innovation and Technology Center, create a highland for international high-end talent gathering, creatively solve regional cooperation problems, promote the formation of a coordinated pattern of "innovation source, industrial transformation highland, and international circulation link" in the Guangdong Hong Kong Macao Greater Bay Area, and better promote the country's high-level opening-up to the outside world. Nobel laureate Joseph Stiglitz affirmed the special status of Hong Kong. He said that Hong Kong's autonomy gives it stronger adaptability and flexibility. People realize that there is indeed a need for a financial center like Hong Kong, which is rooted in common law, English is more widely spoken, and can better serve as a bridge. Fosun International Chairman Guo Guangchang said that Hong Kong, as an important bridge connecting the country with the world, has unparalleled natural advantages in opening up to the outside world. In his view, the core password for Hong Kong to explore a new pattern lies in the word "innovation", which covers comprehensive innovation in systems, mechanisms, and technologies. Whether it is institutional, mechanism, or technological innovation, the ultimate value can be generated through "opening up to the outside world" to generate higher "multiplier effects". Taking the development of low altitude economy as an example, Shen Xiangyang, Chairman of the Board of Directors of the Hong Kong University of Science and Technology, said that the Hong Kong Civil Aviation Department has established a well functioning "regulatory sandbox" for low altitude economy, which is open for testing in multiple airspace to attract enterprises to conduct various experiments. After the safety is fully verified, it will be pushed to the market. This is a significant advantage for Hong Kong to develop a low altitude economy. "Zhu Shihui, Chairman of Pioneer Technology Group, believes that Hong Kong can become a" buffer zone "and" intermediary "in the technology supply chain with its institutional and legal advantages. He suggested that in the future, the Greater Bay Area should deepen the connection of rules, establish a "Hong Kong International Mainland" three-way connectivity mechanism, cultivate emerging industries, and create a new engine for economic growth. As an international financial center, the development prospects of Hong Kong's financial industry have attracted much attention. He Dexu, Dean of the School of Business at the University of Chinese Academy of Social Sciences, stated that Hong Kong's financial industry is entering an important strategic opportunity period in the next five to ten years. The 15th Five Year Plan proposes to consolidate and enhance Hong Kong's position as an international financial center, which is not only a full recognition of Hong Kong's achievements, but also a higher requirement for Hong Kong in the new era. (New Society)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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