Hong Kong SAR: 20 years later, it’s time for 2.0

Hong Kong Island skyline

Has it been twenty years already? 1997 was a memorable year for people in Britain, for reasons good and bad. Among other events, Hong Kong was finally handed over to China, marking a new era for all concerned – Hong Kong especially.

Much has happened in the two decades since, and of the three territories, it’s China with the glowing school report. The nation is exerting its influence from Africa to Indonesia, while domestically cities such as Shanghai are luring top global talent, eager to have a stab at the world’s biggest market.

In contrast, Hong Kong and the UK have both seen relative decline (let’s be honest), becoming increasingly divided and unsure of themselves. The parallels between the two are obvious.

But life goes on, as they say, and Hong Kong is the ultimate embodiment of life. No matter who calls the shots; the territory remains a supreme machine, where 7 million people combine efficiently and tightly to keep its wheels turning.

This is hustle and bustle on steroids (if you’re looking for balance, you’ve come to the wrong place), with Hong Kong operating with an intensity and impatience that makes London feel like a country club in comparison.

Yet despite the blistering pace, Hong Kong feels remarkably risk-averse. If Silicon Valley’s mantra is “move fast and break things”, Hong Kong’s spirit can be better described as “move fast and keep things unchanged”. From tech to housing and public light shows, the city now trails behind Shanghai, Singapore and even neighbouring Shenzhen.

There is, mercifully, a growing appetite for disruption. Call it what you want: fintech, regtech, wealth tech, biotech, travel tech, the movements are out there, eager to cement Hong Kong’s “hub” status in the region, leveraging on the city’s strengths.

To get “there” – frankly there is no final destination, as this is a process of constant reiteration and reinvention – Hong Kong will need to overcome its biggest adversary. Not Singapore, not China, but itself. It won’t be easy.

As Hong Kong enters its third decade and adulthood since the handover, new opportunities (and challenges) await that will better serve the “intrapreneurs” and change makers among us. We could be witnessing the start of a new era altogether. And if anyone can help put an end to the city’s whopping cost of living, beers are on me…

Free seminar to examine post-Brexit opportunities in China and Hong Kong

River Huangpu in Shanghai

If you’re in the UK on Thursday 8 June, there is one event that you can’t afford to miss if you have an interest in Brexit. Perhaps two if you include the General Election.

A free seminar networking event for businesses in Gloucestershire and surrounding areas aims to shed light on how businesses in Britain can take advantage of the current golden opportunities to enter China and Hong Kong markets.

Hosted by culture experts Join in China, the seminar will feature top speakers, including a Minister Counsellor from the Chinese Embassy and government representatives from Hong Kong and the UK.

The event will be held at Hartpury College, Gloucester, 9am – 2pm, meaning that you will still have time to dash to the polling booth to cast your vote (or spoil your paper, if you think a hastily called election is a load of ballots). You can register your interest here.