Hong Kong's Future Tied to Shenzhen's Bold Reforms, Says Leung Chun-ying

Shenzhen's Influence on Hong Kong Reforms

Former Hong Kong leader Leung Chun-ying has voiced that Hong Kong should draw from the Shenzhen experience to implement bolder and faster reforms. The recent third plenum of the Communist Party of China highlighted policy support aimed at enhancing Hong Kong’s status as an international financial, shipping, and trading centre.

Adapting Effective Practices

Leung emphasized the need for reforms to tackle the challenges facing Hong Kong's economic development. He referenced Shenzhen's innovative approach of “emptying the cage and changing the bird,” which relocates outdated industries to free resources for higher value-added services.

• Focus on High-Value Services: Leung advocates shifting towards expert services in maritime law, maritime insurance, and financing to enhance competitiveness.
• Reassessing Current Practices: Clinging to past successes is insufficient; modern maritime centres require innovative service offerings rather than merely increasing container throughput.

According to Leung, embracing a determined reform strategy, aligned with national needs, can catalyze economic rejuvenation and foster professional growth opportunities.