Hong Kong must play to its core strengths for another 20 years of world-beating prosperity


If you are over 40, it may be hard to believe that the 20th anniversary of the establishment of the Hong Kong Special Administrative Region is just around the corner. The past two decades seem to have spun by in a near instant, given the furious pace of life in Asia’s world city.

Hong Kong’s success is above all a tribute to the strength, work ethic and perseverance of its people. The city, just voted the most competitive in the world, will soon be awash with celebrations and speeches, with a flag-raising ceremony and fireworks marking establishment day. Carrie Lam Cheng Yuet-ngor will be sworn in as Hong Kong’s fourth chief executive on that day, another pivotal point in the city’s unique and exciting history.

Throughout the fanfare, conversations across Hong Kong will be sprinkled with a strong dose of memory sharing and forecasts. After years of searching for its identity, amid an economic downturn and a few jarring diplomatic incidents, some people are concerned that Hong Kong has lost its edge: its famed dynamism. Most worrying is a seemingly creeping but growing sense that the city risks losing its well-earned global reputation.

On the face of it, these concerns seem overblown. There is no denying the considerable challenges ahead, but there is equally no doubt that Hong Kong’s core strengths provide a strong momentum going forward if they are upheld.

Read more at SCMP