Experts urge Hong Kong to be a ‘value partner’, not just a ‘superconnector’ Hong Kong should ensure it acts as a “value partner” in addition to its role as a “superconnector” between mainland China and the rest of the world, rather than as a mere facilitator of connections, according to experts including the city’s former commerce chief. Speaking at the South China Morning Post 2025 China Conference themed “Where Capital Meets Innovation” on Tuesday, former secretary for commerce and economic development Edward Yau Tang-wah said Hong Kong should not merely aim to “connect the dots”. “What we do to secure Hong Kong’s position as described by the chief executive and all the previous leaders is we must bring value, and the value is not just gold plating, but also to create a dependable partnership that could join things together,” he said. “Hong Kong must enter into the game of building this partnership.” Yau also identified two “axes of opportunities” for the city. He referred to the first as the “north-south axis”, which represents Hong Kong’s strong connection with the mainland. He described this as the “global economic energy”, accounting for one-third of the world’s trade economy. The second he called the “east-west axis”, extending from Hong Kong through Asean, the Indian subcontinent, the Middle East, Central Asia, and into Eastern Europe. This axis, he noted, aligned with many countries taking part in the Belt and Road Initiative. “We are right at the centre of these two axes – one is a major economic engine, the other … is a line of opportunity,” he said. He emphasised that Hong Kong must leverage its central position to become a hub where “all these economies and businesses find comfort in doing business.” This, he added, included ensuring “sufficient trade protection in terms of bilateral, regional, plurilateral, or multilateral trade agreements.” Yau further questioned, “Are there sufficient experts they can partner with when they go out? They are not just looking for a tour guide; they are asking for someone who can guide them within the board.” Another speaker, Patrick Lau Hui-ping, deputy executive director of the Hong Kong Trade Development Council, said the city had remained resilient in merchandise trade despite external pressures. He highlighted that exports from the mainland, channelled through Hong Kong, had seen their global market share increase from 12 per cent to around 14 per cent, even after initial tariffs were imposed. “Trade actually has not stopped; it’s just that you need to find more opportunities,” Lau said. He noted that businesses were increasingly adopting “China plus N” models, where companies diversify their manufacturing and supply chains beyond the mainland to reduce reliance on a single country. “That diversification in Hong Kong probably can come in the form of new friends in the Middle East, in Asean. These are the new areas where some of the trade diversions have happened,” Lau said. He added that there was a growing importance of Hong Kong’s service trade, particularly in assisting mainland companies as they expanded overseas for both trade and investment. Addressing the shift in tourism profiles, with fewer Western visitors due to geopolitical factors, Becky Ip Ching-tak, deputy executive director of the Tourism Board, acknowledged there had been a greater influx of visitors from the East. However, she said this was not a limitation, but an opportunity for multi-destination regional travel. She highlighted Hong Kong’s unique position as a “fusion of Eastern traditions and Western modernity”, making it a safe and trusted entry point for international travellers to explore the mainland and vice versa. She also pointed to significant growth in certain international markets, citing a 25 per cent increase in the number of Australian visitors in the first five months of the year. Looking ahead, Yau stressed the importance of securing “more certain and stable trading environments through bilateral or multilateral trade agreements”, even if such negotiations were protracted. He added that it was essential for Hong Kong to remain “truly international”, extending its reach beyond its traditional focuses. https://www.scmp.com/news/hong-kong/health-environment/article/3317349/experts-urge-hong-kong-be-value-partner-not-just-superconnector (ICE HONG KONG)

Fonte notizia: South China Morning Post