Anthony Cheung Bing-Leung Calls for Innovation Over 'Panda Economy' in Hong Kong
Hong Kong Must Shift from 'Panda Economy' Focus
A former transport minister, Anthony Cheung Bing-Leung, has criticized Hong Kong's 'panda economy', suggesting that the city should prioritize its contribution to high-end development instead of targeting low-end sectors. Speaking at a recent policy event, Cheung highlighted the struggle to attract investors due to Hong Kong's perception as a 'national security city'.
Rebuilding Hong Kong's Global Appeal
Cheung pointed out that despite a recent stock rally driven by Beijing's stimulus, the real challenge lies in enhancing Hong Kong's image as a reliable investment destination. He cautioned that potential investors may now view Hong Kong similarly to mainland China, diminishing its competitive edge.
- Focus on innovation technology rather than low-end industries
- Hong Kong's economic restructuring should leverage its financial and professional services
- Engagement with Beijing-friendly European countries can lead to cultural collaboration
Cheung's insights reinforce the need for Hong Kong to move away from low-level economic initiatives and strive for meaningful growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.