Summit spotlights Hong Kong’s expanding role in global cooperation and new growth areas

Key Concepts

• Global Governance Initiative: A framework proposed by China to enhance international cooperation and synergy among global mechanisms.
• APEC (Asia-Pacific Economic Cooperation): A regional economic forum; China holds the rotating presidency for 2026.
• Greater Bay Area (GBA): A strategic economic hub integrating Hong Kong, Macau, and cities in Guangdong province.
• APEC Global Cities Network: A proposed framework to foster cooperation between major urban centers within the APEC region.
• Aerospace Innovation: The emerging focus on Hong Kong’s role in spacecraft architecture and deep space research.

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1. Overview of the Global Prosperity Summit

The third annual Global Prosperity Summit, co-organized by the Savantas Policy Institute and Professor Li Ka-shing’s think tank, served as a platform for industry leaders and policymakers to discuss Hong Kong’s role in the evolving global order. The summit focused on stability, certainty, and trust as the pillars of Hong Kong’s economic identity, aiming to foster cross-cultural dialogue to drive sustainable global prosperity.

2. Diplomatic and Economic Frameworks

• China’s Global Governance Initiative: Ambassador Han Zheng Xiang emphasized China’s commitment to improving regional and global governance. As the 2026 APEC president, China aims to advance the "Asia-Pacific community" and a "Free Trade Area of the Asia-Pacific."
• Recalibrating China-US Relations: Professor Li highlighted the current period as a "critical moment" to recalibrate the global economic order and stabilize China-US relations, noting that frank, high-level dialogue is essential for addressing structural trade issues.
• APEC Cooperation Proposal: Regina Ip and Professor Li proposed the creation of an APEC Global Cities Network and a Council of APEC Think Tanks. These initiatives are designed to build a foundation for deeper regional cooperation by connecting cities that have hosted APEC meetings.

3. Strategic Industry Focus Areas

The summit addressed several high-growth sectors:

• Innovative Drug Development: Leveraging the Greater Bay Area’s research capabilities.
• Digital Economy: Discussions on the high-risk, high-reward nature of cryptocurrency, alongside the intersection of international trade, cybersecurity, and Artificial Intelligence (AI).
• Sports and Cultural Hub: Promoting Hong Kong’s soft power and infrastructure to attract international events and tourism.
• Aerospace Ambitions: A notable panel explored Hong Kong’s potential to act as an "architect for next-generation spacecraft missions," moving beyond traditional industries to participate in deep space research and innovation.

4. Regional Integration and Connectivity

A key argument presented was that Hong Kong’s success is intrinsically linked to its role as a gateway to the Greater Bay Area and its proximity to ASEAN economies.

• Shenzhen-Hong Kong Synergy: The choice of Shenzhen for the APEC summit was lauded as "inspired," as it leverages the ease of access between the two cities to attract a record number of global CEOs.
• ASEAN Integration: Panelists suggested that Hong Kong must act as a driver for regional growth by capitalizing on the strength of ASEAN economic entities.

5. Synthesis and Conclusion

The summit concluded that the current global landscape is undergoing profound technological, economic, and scientific transformations. By hosting these high-level discussions, Hong Kong aims to:

1. Reposition itself within the changing global order.
2. Inform local policy makers through evidence-based discourse on emerging industries.
3. Foster institutionalized cooperation through networks like the APEC Global Cities initiative.

The event reaffirmed that Hong Kong’s future prosperity depends on its ability to remain a stable, collaborative hub that bridges the gap between Chinese domestic growth and international economic interests.