“How to fight for the economy?” Seminar held for experts and scholars to discuss strategies for Hong Kong’s economic development – Economy – Dagong Wenhui.com

(Dagong Wenhui All-Media Reporter Gong Xueming) The Hong Kong Development Forum held a seminar on “How to fight for the economy?” at the Convention and Exhibition Center today (24th), inviting many experts and scholars to discuss strategies for Hong Kong’s economic development. Many guests said that Hong Kong’s economy is overly dependent on the real estate market to a considerable extent, but local property prices are already at the peak of the world. Once other economies are slightly different, Hong Kong will have difficulty maintaining relatively high real estate prices. Therefore, it is necessary to think about the direction of transformation, such as development Facing the financial markets in the Middle East, Latin America and ASEAN, it provides mainland enterprises with capital management solutions, hedging tools, transaction settlement and other services. They also called on the government to do more population policy planning in the future to attract more capable and well-educated people to Hong Kong.

Convener of the forum and Chairman of Hang Lung Group, Chen Qizong, said that the current world situation is complex and volatile, geopolitical tensions continue, financial market fluctuations and the impact of technological innovation have all brought pressure and challenges to Hong Kong’s economic development. Therefore, the forum was held to discuss Hong Kong’s response. corresponding policies adopted.

Chen Qizong believes that Hong Kong’s economic prosperity before 1997 is no longer sustainable. Real estate has been booming since the handover, but land and property prices in Hong Kong have reached the highest levels in the world, and this cannot last forever. When there are slight differences in other aspects of the economy, real estate prices cannot remain high. Therefore, it is “more dangerous” to continue to use real estate as the main economic support after the return.

Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference Leung Chun-ying mentioned at the meeting that Hong Kong currently has too many Comfort Zones and lacks the fighting spirit of 40 years ago. He believed that Hong Kong cannot “cling to the lap of history” and suggested that Hong Kong’s chambers of commerce and professional groups Most of them represent small and medium-sized enterprises looking for business opportunities in the mainland. In addition, regarding the import of foreign workers in some industries, he believes that the arrangements are very good, but the wage standard should not be the median wage of Hong Kong people. He described it as “a show and a half trick”. When there is a labor shortage, employers must use the market wage Workers must be hired at the median wage, which does not solve the problem.

Feng Xiaozhong, executive director and chief financial officer of Henderson Land Co., Ltd., said that Hong Kong’s status as an international financial center coexists with opportunities and challenges. With the deepening development of Hong Kong’s offshore RMB market, its status as a center for diversifying global financial risks will become more prominent. He believes that in addition to developing traditional stocks and bonds, Hong Kong can also provide options other than the US dollar to financial markets in the Middle East, Latin America and ASEAN to help diversify financial risks. He also suggested that the country encourage mainland enterprises to establish global capital management centers in Hong Kong. Hong Kong can make full use of its rich experience and its own strengths to provide them with capital management solutions, hedging tools and transaction settlement, cross-border payment, foreign exchange trade and other services.

Kwok Kwok-chuen, former CEO of the Hong Kong Institute of Finance, also called on the government to change the current high-price land policy and invest in land with a “long-term view.” He said that Hong Kong’s economy is currently facing multiple challenges, including China’s economic transformation. Western countries’ suppression of China’s development will also have an impact on Hong Kong’s economy. With the development of science and technology, traditional key economic industries such as trade logistics, financial services, and real estate are facing challenges. , Hong Kong should think about how to make full use of effective resources and attract talents with highly educated backgrounds to make up for the labor shortage caused by the aging population.

Wang Yujian, chief vice-president of the University of Hong Kong, said that there are many real estate regulations in Hong Kong and the land development efficiency is relatively slow, which may be the reason for the high property prices. He pointed out that it is not a bad thing that the land approval process is complicated, but when a place needs rapid changes, still using relevant policies will make it difficult to promote development.

Wang Yujian believes that in order to promote development, regulatory agencies have become flexible, especially in promoting the technology industry. Many small and medium-sized enterprises may not have the historical experience and resources of large enterprises to deal with supervision, and he hopes that regulatory agencies will not be too rigid. Hong Kong is facing an aging population, and related problems will lead to an aging workforce. In the past, due to the political environment, it was difficult for the government to promote population policies. We hope that the government will have more population policy plans in the future.