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PRESS RELEASES

Rethink Hong Kong Forum: Hong Kong’s New Role as an International City under the New Normal

2 Dec 2024 (Mon)
3 min read

(2 December, 2024, Hong Kong) Our Hong Kong Foundation (OHKF) and the Center for China & Globalization (CCG) co-organised the “Rethink Hong Kong Forum: Hong Kong’s New Role as an International City under the New Normal” (the Forum).  The Forum deciphers the multifaceted challenges and opportunities that the rapid changes in international arena presented, and explores how Hong Kong as a "super-connector" and "super value-adder" with unique advantages in systems, environments, and talent can achieve breakthroughs and promote continuous exchange and collaboration between the East and the West. The Forum also explores new opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, ASEAN, and Belt and Road countries.

Mr Bernard CHAN, Chairman of OHKF and Chairman & President of Asia Financial Holdings Limited, and Dr Henry Huiyao WANG, Founder and President of CCG and former Counselor to China State Council, delivered the opening remarks. OHKF was honoured to have the presence of Mr LEI Haiqiu, Director of Research Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region.

In his opening remarks, Mr Bernard CHAN said, “ Historically, Hong Kong has been a bridge between East and West, a role we must strengthen even further. Our tradition of facilitating capital flows into China during its economic reform era laid the groundwork for mutual growth. Now, as we stand at the cusp of a new chapter, we have the opportunity to preserve this legacy, embrace change, and add new value to our relationship with China.”

Dr Henry Huiyao WANG expressed, “Hong Kong, renowned as a vibrant international city and a vital gateway between East and West, continues to thrive with its world-class financial infrastructure, efficient legal systems, and international talent, serving as a super connector, cross-cultural adapter, and bridge builder despite the challenges of the new normal.”

The warm welcome unveiled the three Keynote Addresses of the Forum.  

At the first session, “China’s Role in the Changing Global Economy and Implications for Hong Kong”, explored how Hong Kong’s unique edge as the “super-connector” between the Mainland and the world evolved amidst the escalating geo-political tensions and the new global trade dynamics and investment patterns. With keynotes by Professor Rana MITTER, ST Lee Chair in US-Asia Relations at the Harvard Kennedy School, and Dr Yukon HUANG, Senior Fellow of Carnegie Endowment for International Peace, followed by a dialogue session with Mr Bernard CHAN and the session’s chair, Dr Victor K FUNG, Chairman of Fung’s Investments and Chairman of Asia Global Institute of the University of Hong Kong.  

From global market to two key emerging ties, the second session, “China's Role in the Belt and Road and ASEAN Emerging Markets and Opportunities for Hong Kong”, delved into the significant role of China in cementing the ties and how Hong Kong can leverage the vast collaborative regions and the city’s “new quality productive forces” to attract investments and foster strategic partnerships. Professor Tony CHAN, former President of King Abdullah University of Science and Technology and former President of The Hong Kong University of Science and Technology, and Dr Henry Huiyao WANG delivered the Keynote Addresses; Mr Nicholas HO Lik-chi, Commissioner for Belt and Road, Commerce and Economic Development Bureau of the Government of the HKSAR, and Mr Vincent LO, Chairman of the Shui On Group, joined them in the dialogue session with Hon SHANG Hailong, Legislative Council Member of the HKSAR, as the session’s chair.  

Centering on Hong Kong’s redefined role in the third session, “Rethink Hong Kong:  Role and Transformation as a New International City”, the two keynote speakers, Hon Sunny TAN, Chairman of the Hong Kong Productivity Council, and Dr Alicia GARCÍA-HERRERO, Chief Economist for Asia Pacific of Natixis and Adjunct Professor of the Hong Kong University of Science and Technology; Panellist, Dr Jane LEE, President of OHKF and the session host, Dr Victor FUNG, discussed how Hong Kong can embrace its new arenas beyond the traditional pillar industries through strengthening its international connectivity and fostering sectorial collaborations.  

In his closing remarks, Mr Douglas WOO, Chairman & Managing Director of Wheelock and Company Limited, said, “We drive policy innovations that support long-term sustainable growth and development, and reflect our unique role as the value-added nexus for international trade and cultural exchange to connect China with the world and the world with China—a trusted gateway and platform”.  

The Forum received over 500 attendees and gained strong support from various sectors, including: China Center for International Economic Exchanges as Strategic Partner; Invest Hong Kong, the Government of the HKSAR; Office for Attracting Strategic Enterprises, the Government of the HKSAR; Hong Kong Trade Development Council, China–United States Exchange Foundation, Greater Bay Area Homeland Youth Community Foundation and Hong Kong-ASEAN Foundation as the forum’s Supporting Organisations. Conrad Hong Kong was the Venue Sponsor of the Forum.

Event page: 
https://ourhkfoundation.org.hk/en/RethinkHK2024

Group photo
In his welcoming remarks, Mr Bernard CHAN, Chairman of OHKF and Chairman & President of Asia Financial Holdings Limited, says, “Historically, Hong Kong has been a bridge between East and West, a role we must strengthen even further. Our tradition of facilitating capital flows into China during its economic reform era laid the groundwork for mutual growth. Now, as we stand at the cusp of a new chapter, we have the opportunity to preserve this legacy, embrace change, and add new value to our relationship with China.”  
Professor Rana MITTER, ST Lee Chair in US-Asia Relations at the Harvard Kennedy School, says, “Education and technology are going to be crucial to the development of Asia and its place in a new global economy.  Hong Kong will need to think about its changing role in that context.  I look forward to a wide-ranging discussion on the subject at the Forum.” 
Dr Yukon HUANG, Senior Fellow of Carnegie Endowment for International Peace, expresses, “China will likely succeed in becoming more technologically self-sufficient but at the cost of slower economic growth. China still has many growth enhancing options that do not require additional financing - a cost free growth path. Hong Kong can counter global anti-globalization sentiments with initiatives that complement China's hi-tech aspirations and strengthen regional trade and investment links.” 
The dialogue session for the first Keynote Address, “China’s Role in the Changing Global Economy and Implications for Hong Kong”, featuring Professor Rana MITTER, Dr Yukon HUANG, Mr Bernard CHAN and Dr Victor K FUNG, Chairman of Fung’s Investments and Chairman of Asia Global Institute of the University of Hong Kong—as the session’s chair. 
In his keynote, Professor Tony CHAN, former President of King Abdullah University of Science and Technology and former President of The Hong Kong University of Science and Technology, says, “China’s Belt and Road Initiative presents tremendous opportunities and benefits for many countries, with ASEAN and the Middle East countries as prime examples. As a group, these countries count China as its leading trading partner and they also have many infrastructure needs which can benefit from BRI, as well as China’s experience in building infrastructures. While the benefits are obvious and mutual, there are also many obstacles and challenges, top among which is the rapidly changing geo-politics. Hong Kong can take advantage of its One Country Two Systems framework to not only play a key role in enabling the BRI for China, but also benefit from it in the process.” 
Dr Henry Huiyao WANG delivers the Keynote Addresses, “Hong Kong's multiple roles as a center for China-ASEAN cooperation, RCEP, CPTPP, and talent within the Greater Bay Area present immense opportunities not only for Hong Kong itself but also for the broader region and the world.”
The dialogue session for the second Keynote, “China's Role in the Belt and Road and ASEAN Emerging Markets and Opportunities for Hong Kong”, is brought by Professor Tony CHAN, Dr Henry Huiyao WANG, Mr Nicholas HO Lik-chi, Commissioner for Belt and Road, Commerce and Economic Development Bureau of the Government of the HKSAR, and Mr Vincent LO, Chairman of the Shui On Group, with Hon SHANG Hailong, Legislative Council Member of the HKSAR, as the session’s chair. 
In his keynote speech, Hon Sunny Tan, Chairman of the Hong Kong Productivity Council, says, “Amid global supply chain restructuring, the national strategy of New Productive Forces presents businesses with opportunities for transformation and upgrading. Under the ‘One Country, Two Systems’ framework, Hong Kong offers a highly international environment, supported by the vast 1.4 billion market in the Chinese Mainland, and access to emerging markets in ASEAN and the Middle East, as well as traditional Western markets. This positions Hong Kong as a crucial bridge for Mainland enterprises to ‘go global’. HKPC firmly believes that Hong Kong’s unique advantages can add significant value to industries, enabling businesses to thrive on the international stage. We remain committed to actively supporting both Mainland and Hong Kong enterprises in strengthening their competitive edge in the global market.” 
Dr Alicia GARCÍA-HERRERO, Chief Economist for Asia Pacific of Natixis and Adjunct Professor of the Hong Kong University of Science and Technology, says at her keynote speech, “As the world continues to develop, and geopolitical tensions increase, Hong Kong will need to move beyond its role of super connector,  even if it has served Hong Kong well, to a knowledge-based fortress of arbitrage. For this, Hong Kong will need to further develop its comparative advantage, closer to high-end, possibly R&D related services, and leverage from its unvaluable logistical advantage to that end. Hong Kong’s impressive human capital and connectivity, as well as its massive pool of global savings, should be instrumental in such transformation.”
Centering on, “Rethink Hong Kong:  Role and Transformation as a New International City”, the dialogue session features Hon Sunny Tan, Dr Alicia GARCÍA-HERRERO, Dr Jane Lee, President of OHKF, along with the session’s host, Dr Victor FUNG. 
In his closing remarks, Mr Douglas WOO, Chairman & Managing Director of Wheelock and Company Limited said, “We drive policy innovations that support long-term sustainable growth and development, and reflect our unique role as the value add nexus for international trade and cultural exchange to connect China with the world and the world with China—a trusted gateway and platform.”

Last Updated 5 Dec 2024 (Thu)

(2 December, 2024, Hong Kong) Our Hong Kong Foundation (OHKF) and the Center for China & Globalization (CCG) co-organised the “Rethink Hong Kong Forum: Hong Kong’s New Role as an International City under the New Normal” (the Forum).  The Forum deciphers the multifaceted challenges and opportunities that the rapid changes in international arena presented, and explores how Hong Kong as a "super-connector" and "super value-adder" with unique advantages in systems, environments, and talent can achieve breakthroughs and promote continuous exchange and collaboration between the East and the West. The Forum also explores new opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, ASEAN, and Belt and Road countries.

Mr Bernard CHAN, Chairman of OHKF and Chairman & President of Asia Financial Holdings Limited, and Dr Henry Huiyao WANG, Founder and President of CCG and former Counselor to China State Council, delivered the opening remarks. OHKF was honoured to have the presence of Mr LEI Haiqiu, Director of Research Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region.

In his opening remarks, Mr Bernard CHAN said, “ Historically, Hong Kong has been a bridge between East and West, a role we must strengthen even further. Our tradition of facilitating capital flows into China during its economic reform era laid the groundwork for mutual growth. Now, as we stand at the cusp of a new chapter, we have the opportunity to preserve this legacy, embrace change, and add new value to our relationship with China.”

Dr Henry Huiyao WANG expressed, “Hong Kong, renowned as a vibrant international city and a vital gateway between East and West, continues to thrive with its world-class financial infrastructure, efficient legal systems, and international talent, serving as a super connector, cross-cultural adapter, and bridge builder despite the challenges of the new normal.”

The warm welcome unveiled the three Keynote Addresses of the Forum.  

At the first session, “China’s Role in the Changing Global Economy and Implications for Hong Kong”, explored how Hong Kong’s unique edge as the “super-connector” between the Mainland and the world evolved amidst the escalating geo-political tensions and the new global trade dynamics and investment patterns. With keynotes by Professor Rana MITTER, ST Lee Chair in US-Asia Relations at the Harvard Kennedy School, and Dr Yukon HUANG, Senior Fellow of Carnegie Endowment for International Peace, followed by a dialogue session with Mr Bernard CHAN and the session’s chair, Dr Victor K FUNG, Chairman of Fung’s Investments and Chairman of Asia Global Institute of the University of Hong Kong.  

From global market to two key emerging ties, the second session, “China's Role in the Belt and Road and ASEAN Emerging Markets and Opportunities for Hong Kong”, delved into the significant role of China in cementing the ties and how Hong Kong can leverage the vast collaborative regions and the city’s “new quality productive forces” to attract investments and foster strategic partnerships. Professor Tony CHAN, former President of King Abdullah University of Science and Technology and former President of The Hong Kong University of Science and Technology, and Dr Henry Huiyao WANG delivered the Keynote Addresses; Mr Nicholas HO Lik-chi, Commissioner for Belt and Road, Commerce and Economic Development Bureau of the Government of the HKSAR, and Mr Vincent LO, Chairman of the Shui On Group, joined them in the dialogue session with Hon SHANG Hailong, Legislative Council Member of the HKSAR, as the session’s chair.  

Centering on Hong Kong’s redefined role in the third session, “Rethink Hong Kong:  Role and Transformation as a New International City”, the two keynote speakers, Hon Sunny TAN, Chairman of the Hong Kong Productivity Council, and Dr Alicia GARCÍA-HERRERO, Chief Economist for Asia Pacific of Natixis and Adjunct Professor of the Hong Kong University of Science and Technology; Panellist, Dr Jane LEE, President of OHKF and the session host, Dr Victor FUNG, discussed how Hong Kong can embrace its new arenas beyond the traditional pillar industries through strengthening its international connectivity and fostering sectorial collaborations.  

In his closing remarks, Mr Douglas WOO, Chairman & Managing Director of Wheelock and Company Limited, said, “We drive policy innovations that support long-term sustainable growth and development, and reflect our unique role as the value-added nexus for international trade and cultural exchange to connect China with the world and the world with China—a trusted gateway and platform”.  

The Forum received over 500 attendees and gained strong support from various sectors, including: China Center for International Economic Exchanges as Strategic Partner; Invest Hong Kong, the Government of the HKSAR; Office for Attracting Strategic Enterprises, the Government of the HKSAR; Hong Kong Trade Development Council, China–United States Exchange Foundation, Greater Bay Area Homeland Youth Community Foundation and Hong Kong-ASEAN Foundation as the forum’s Supporting Organisations. Conrad Hong Kong was the Venue Sponsor of the Forum.

Event page: 
https://ourhkfoundation.org.hk/en/RethinkHK2024

Group photo
In his welcoming remarks, Mr Bernard CHAN, Chairman of OHKF and Chairman & President of Asia Financial Holdings Limited, says, “Historically, Hong Kong has been a bridge between East and West, a role we must strengthen even further. Our tradition of facilitating capital flows into China during its economic reform era laid the groundwork for mutual growth. Now, as we stand at the cusp of a new chapter, we have the opportunity to preserve this legacy, embrace change, and add new value to our relationship with China.”  
Professor Rana MITTER, ST Lee Chair in US-Asia Relations at the Harvard Kennedy School, says, “Education and technology are going to be crucial to the development of Asia and its place in a new global economy.  Hong Kong will need to think about its changing role in that context.  I look forward to a wide-ranging discussion on the subject at the Forum.” 
Dr Yukon HUANG, Senior Fellow of Carnegie Endowment for International Peace, expresses, “China will likely succeed in becoming more technologically self-sufficient but at the cost of slower economic growth. China still has many growth enhancing options that do not require additional financing - a cost free growth path. Hong Kong can counter global anti-globalization sentiments with initiatives that complement China's hi-tech aspirations and strengthen regional trade and investment links.” 
The dialogue session for the first Keynote Address, “China’s Role in the Changing Global Economy and Implications for Hong Kong”, featuring Professor Rana MITTER, Dr Yukon HUANG, Mr Bernard CHAN and Dr Victor K FUNG, Chairman of Fung’s Investments and Chairman of Asia Global Institute of the University of Hong Kong—as the session’s chair. 
In his keynote, Professor Tony CHAN, former President of King Abdullah University of Science and Technology and former President of The Hong Kong University of Science and Technology, says, “China’s Belt and Road Initiative presents tremendous opportunities and benefits for many countries, with ASEAN and the Middle East countries as prime examples. As a group, these countries count China as its leading trading partner and they also have many infrastructure needs which can benefit from BRI, as well as China’s experience in building infrastructures. While the benefits are obvious and mutual, there are also many obstacles and challenges, top among which is the rapidly changing geo-politics. Hong Kong can take advantage of its One Country Two Systems framework to not only play a key role in enabling the BRI for China, but also benefit from it in the process.” 
Dr Henry Huiyao WANG delivers the Keynote Addresses, “Hong Kong's multiple roles as a center for China-ASEAN cooperation, RCEP, CPTPP, and talent within the Greater Bay Area present immense opportunities not only for Hong Kong itself but also for the broader region and the world.”
The dialogue session for the second Keynote, “China's Role in the Belt and Road and ASEAN Emerging Markets and Opportunities for Hong Kong”, is brought by Professor Tony CHAN, Dr Henry Huiyao WANG, Mr Nicholas HO Lik-chi, Commissioner for Belt and Road, Commerce and Economic Development Bureau of the Government of the HKSAR, and Mr Vincent LO, Chairman of the Shui On Group, with Hon SHANG Hailong, Legislative Council Member of the HKSAR, as the session’s chair. 
In his keynote speech, Hon Sunny Tan, Chairman of the Hong Kong Productivity Council, says, “Amid global supply chain restructuring, the national strategy of New Productive Forces presents businesses with opportunities for transformation and upgrading. Under the ‘One Country, Two Systems’ framework, Hong Kong offers a highly international environment, supported by the vast 1.4 billion market in the Chinese Mainland, and access to emerging markets in ASEAN and the Middle East, as well as traditional Western markets. This positions Hong Kong as a crucial bridge for Mainland enterprises to ‘go global’. HKPC firmly believes that Hong Kong’s unique advantages can add significant value to industries, enabling businesses to thrive on the international stage. We remain committed to actively supporting both Mainland and Hong Kong enterprises in strengthening their competitive edge in the global market.” 
Dr Alicia GARCÍA-HERRERO, Chief Economist for Asia Pacific of Natixis and Adjunct Professor of the Hong Kong University of Science and Technology, says at her keynote speech, “As the world continues to develop, and geopolitical tensions increase, Hong Kong will need to move beyond its role of super connector,  even if it has served Hong Kong well, to a knowledge-based fortress of arbitrage. For this, Hong Kong will need to further develop its comparative advantage, closer to high-end, possibly R&D related services, and leverage from its unvaluable logistical advantage to that end. Hong Kong’s impressive human capital and connectivity, as well as its massive pool of global savings, should be instrumental in such transformation.”
Centering on, “Rethink Hong Kong:  Role and Transformation as a New International City”, the dialogue session features Hon Sunny Tan, Dr Alicia GARCÍA-HERRERO, Dr Jane Lee, President of OHKF, along with the session’s host, Dr Victor FUNG. 
In his closing remarks, Mr Douglas WOO, Chairman & Managing Director of Wheelock and Company Limited said, “We drive policy innovations that support long-term sustainable growth and development, and reflect our unique role as the value add nexus for international trade and cultural exchange to connect China with the world and the world with China—a trusted gateway and platform.”
Last Updated 5 Dec 2024 (Thu)
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