Ways to Strengthen HK's Position Explored

The Strategic Development Commission's Executive Committee met recently to discuss ways to enhance Hong Kong's economic development so as to strengthen its role as an international financial centre.

Central Policy Unit Head Professor Lau Siu-kai noted that the Basic Law had provided a constitutional basis for Hong Kong to handle its external affairs, giving it a big advantage over other cities. However, he cautioned, the city must strengthen its role to avoid being challenged or replaced by its neighbours.

Professor Lau said a recent study revealed that Western countries had been losing interest in Hong Kong since the handover in 1997, adding there was an urgent need to nurture talent with an international outlook.

A discussion paper issued by the committee listed Hong Kong’s challenges, saying: 
• Hong Kong's openness has made it vulnerable to non-traditional security threats
• With its position between East and West, Hong Kong may be dragged into international disputes
• Hong Kong still lags behind in areas such as promoting and showcasing local cultural characteristics, leading consumption trends, drive for creativity and development of arts and cultural activities

Professor Lau acknowledged the importance of attracting talent to stay in Hong Kong through such means as improving the quality of life, safeguarding citizens' freedoms and enhancing educational facilities.

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