Opportunities for SAR to seize

President Xi Jinping promised the world a more open Chinese economy than ever in his keynote speech at the opening ceremony of the first China International Import Expo in Shanghai on Monday. He also spelled out how the country will keep the promise with policy measures tailor-made for the national economy to be more open in the era of globalization and innovation. This is without question an invitation for Hong Kong, already an open and free market economy, to share its rich experience in running such a dynamic economy with the mainland and collect the rewards of playing a constructive role in the process.

China is now the second-largest economy in the world, behind only the United States, thanks especially to continuous reform and opening-up in the past 40 years. And Hong Kong, a special administrative region of the country since July 1, 1997, has bragging rights over its contributions to the greatest human achievement the world has seen in decades if not centuries. Now it is expected to catch the next wave of epic changes and shine in the nation’s unstoppable march toward even greater goals ahead. It is the best way for Hong Kong to prove its worth and that it deserves all the accolades coming its way. Now it is time to seize another golden opportunity and leave an indelible mark in the next chapter of the Chinese civilization.

Hong Kong has been the freest economy in the world for over two decades and one of the most competitive for obvious reasons. Although it will never be a template for the national economy it does have a lot of experience in becoming a successful market economy. The central government is apparently on the same page with Hong Kong and the rest of the world on such issues, which gives Hong Kong a chance to show this. Hong Kong can lead by example and be rewarded accordingly.

For Hong Kong it is not a matter of whether or not but rather how to play a more proactive role that pays well. The reality is there are so many areas of expertise that Hong Kong can take advantage of in the country’s efforts to further open up. It is not only an opportunity to play a major role but also a great motivation to further diversify and step up the structural transformation of its own economy.

Regarding the development of innovation and technology (inno-tech) sector, we know it is not for its own sake. All the inventions and breakthroughs are worthwhile only when they are successfully applied in the economy and people’s daily life — a simple matter of supply and demand. Where is a better stage for Hong Kong’s inno-tech sector than the national economy and mainland market?

The same applies to its professional services such as medical care and school education, which are in fact already available in Guangdong but have the opportunity to reach a much wider area up north. Opportunities are for people and cities who are prepared.