China’s growth trajectory, the impact of global economic conditions, geopolitical tensions and ambiguity on the energy transition are all risks. But businesses can prepare by boosting in-house intelligence and diversity – both in recruitment and operations.
Hong Kong, Singapore, South Korea and Taiwan have managed to hold their own against developed economies in other regions for decades. However, amid geopolitical fragmentation, game-changing technological advancements and social divisions, they need to adapt quickly.
From electricity to public transport and logistics, more inter-regional cooperation and investment is needed, as well as innovation. Hong Kong can both serve as a conduit for mainland Chinese investment into Southeast Asia and provide sustainability finance expertise.
Hong Kong has long been a service-based economy reliant on finance, tourism, trade logistics and professional services. But as the Chinese economy shifts towards domestic consumption, Hong Kong must change too, to maintain healthy economic and job growth.