EyE on U | Patrick Yeung on post-COVID recovery: HK's uniqueness in regional competition still incomparable

Since the full reopening of borders, Hong Kong has embarked on a path of recovery, and all sectors of the community are seeking opportunities to bring Hong Kong out of the doldrums and breathe new life into the city's industrial ecosystem.

In this latest edition of EyE on U, we are glad to have Mr. Patrick Yeung, Chief Executive Officer of the Hong Kong General Chamber of Commerce, here to share with us his insights on HK's recovery. As a seasoned business administrator, Mr Yeung has 37 years of experience in key positions within leading companies such as the Swire Group and Cathay Pacific, both in Hong Kong and abroad. His column in SkyPost covers a wide range of topics, including management, economics, and inspiring life stories.

On the road to economic recovery, Hong Kong definitely needs the help of professional organizations. Founded in 1861, Hong Kong General Chamber of Commerce (HKGCC) is the oldest, largest and most influential business non-profit organization in Hong Kong. The Chamber advises the Government on economic and commercial policies, including policy addresses and budget submissions.

Speaking of the current economic situation, Yeung said that Hong Kong is recovering slowly yet steadily citing figures. "Like if you have gone through a big sickness and illness, you need time to recover. HK is a vibrant economy before the COVID and our size of the economy may need longer time to recuperate," he said.

Despite so, HK's uniqueness in the geographic competition is incomparable, he stressed. "HK has so unique (strengths), not only geographically but from a historical and cultural perspective. No city in the world can compare to HK which is the best of East and West."

Recently, the Hong Kong government has announced the launch of the "Hong Kong Night Vibes" campaign, which aims to inject new impetus into the city's nighttime economy. At the same time, the successful organization of the "Belt and Road Summit" last month has also brought new opportunities for Hong Kong to revitalize its economy by attracting foreign investment and establishing regional partnerships.

On future development, apart from grasping the opportunities in night economy and regional cooperation, Yeung said that HK should continue to dig into such promising fields as innovation and technology, green finance, as well as arts and culture to keep fueling the full recovery of the economy.

What are the major challenges on Hong Kong's way to full recovery? What role will the HKGCC play in this process? How should HK boost innovation and technology to maintain its competitiveness in the digital era? Watch the video now for more of Yeung's insights.