香港如何塑造自身及世界未來

By focusing on its foundational and emerging strengths, as well as its global potential, the city can adapt to a world in flux Participants attend Robocon Hong Kong 2026 at Science Park on June 21. Photo: Jonathan Wong Nearly three decades after its return to Chinese sovereignty, Hong Kong is once again at an important crossroads. The recent decision by the United States not to renew “The President’s Executive Order on Hong Kong Normalization” has once again focused international attention on the city’s future. For some, it represents another chapter in the geopolitical competition between Washington and Beijing. For Hong Kong, however, it should also serve as a reminder that its future cannot be defined solely by how others perceive it. As Hong Kong approaches the 30th anniversary of its return to China next year, it has an opportunity to redefine its place in a world undergoing profound transformation. The rise of China, the rapid development of artificial intelligence (AI), shifting patterns of globalisation and an increasingly fragmented international order are reshaping the geography of power. Rather than asking whether Hong Kong’s traditional role can survive, the more important question is what new role the city should play. Hong Kong’s future rests not on a single identity but on four mutually reinforcing ones: a global financial capital, an international education hub, an innovation and technology base, and, perhaps most importantly, a global governance centre. The first identity is familiar. Despite political unrest in 2019 and years of geopolitical tension between China and the United States, Hong Kong has shown remarkable resilience as one of the world’s leading financial centres . Rather than disappearing, its role has evolved. It serves as China’s international financial gateway, connecting mainland capital with foreign markets. The city also plays a critical role in enabling investment between China and emerging economies, particularly across the Global South and countries that are part of the Belt and Road Initiative . Far from diminishing Hong Kong’s financial significance, today’s geopolitical environment may strengthen it. As financial systems fragment, Hong Kong’s ability to operate simultaneously within China’s development strategy and international finance becomes an increasingly valuable advantage. Kanat Bozumbayev (left), deputy prime minister of the Republic of Kazakhstan, and Hong Kong Chief Executive John Lee Ka-chiu attend the Alatau City investment round table session at the Rosewood Hotel Hong Kong in Tsim Sha Tsui on June 11. Photo: Dickson Lee The city’s second identity is that of a global education centre. Few cities of Hong Kong’s size can match the concentration of world-class universities it possesses. Five universities rank among the world’s top 100, reflecting decades of investment in research, internationalisation and academic excellence. The global landscape of higher education is also changing. Geopolitical tensions, rising tuition fees and increasingly restrictive immigration policies in several traditional study destinations are encouraging many students, particularly from Asia, to look elsewhere. Hong Kong is emerging as one of the principal beneficiaries of this shift. As some universities in North America and Europe confront financial pressures and staff reductions, Hong Kong’s universities are expanding their global ambitions. The city’s challenge today is not attracting international talent but creating sufficient capacity – in terms of campus space, housing and academic recruitment – to accommodate growing demand. People stroll through the campus of The Hong Kong University of Science and Technology in Clear Water Bay on November 19, 2025. Photo: Nora Tam The third identity is still under construction: an international innovation and technology centre. The extraordinary rise of neighbouring Shenzhen has prompted understandable reflection within Hong Kong about why many of China’s technological breakthroughs have occurred across the border. In response, the Hong Kong government has made innovation and technology a strategic priority, investing heavily in research , talent and cross-border collaboration . The emerging vision is one in which Hong Kong excels in fundamental research, finance and international connectivity, while the Greater Bay Area development zone provides manufacturing capability, industrial scale and market application. Whether this model succeeds remains to be seen, but the direction is clear. This identity will ultimately be judged by results rather than aspiration. Unhandled type: inline-plus-widget {"type":"inline-plus-widget"} The fourth identity receives far less attention but may prove to be the most consequential: Hong Kong as a global governance centre. The international institutional landscape is entering a period of profound transition. As the US reduces its engagement with various international organisations and China assumes a larger role in providing global public goods, the architecture of global governance is likely to evolve. Over the coming decades, new international organisations, regional institutions and dispute-resolution mechanisms are likely to emerge, while existing ones may increasingly expand their presence in Asia. This presents Hong Kong with a unique opportunity. No mainland Chinese city combines Hong Kong’s internationally recognised legal system, separate customs and immigration arrangements, extensive use of English, highly international professional community and deep experience in connecting China with the rest of the world. These characteristics are not just legacies; they are strategic assets. The establishment of the International Organisation for Mediation in Hong Kong is an important first step. But it should not be viewed as an isolated achievement. Instead, it offers a glimpse of a broader future in which Hong Kong becomes a leading venue for international organisations, multilateral dialogue, dispute resolution, policy innovation and global talent development. Realising this vision will require deliberate long-term planning. Hong Kong should attract international organisations, strengthen its capacity to host multilateral meetings, invest in cultivating globally minded professionals and position itself as China’s foremost platform for international governance cooperation. Cities succeed when they continuously reinvent themselves. Hong Kong has done so before, transforming from a manufacturing economy into one of the world’s premier financial centres. Today’s geopolitical transition presents another moment of reinvention. Finance remains Hong Kong’s foundation. Education is becoming one of its greatest strengths. Innovation represents its future competitiveness. Global governance could become its defining contribution to the 21st century. If Hong Kong embraces these four identities together, it will not only adapt to a changing world, it will help shape it.