20 years on Hong Kong still best place to do business

Two decades into the reunification with the country Hong Kong is still very much the destination of choice to do business and start a business, and the regional services hub to procure professional and financial services, despite the economic and political challenges we have faced during the interim.

Over the past 20 years we have witnessed many ups and downs and with each cycle we emerged stronger, leaner and more experienced. There is no denying that we perhaps have been over-obsessed with political issues in recent years. This has cost us valuable time in upgrading and sharpening our competitive edge, while our neighbors have progressed rapidly.

Despite lagging behind on a few areas such as innovation and technology, the economic and political challenges over the years have made us smarter and more sophisticated in doing business. I believe Hong Kong is going through another cycle, as the economy adapts to technological, economic and social changes. At times it feels excruciatingly challenging but we are not alone. Economies around the world all face similar challenges in one way or another. However, this downtime gives us a window to take stock of how we can hone our strengths and, more importantly, address our weaknesses.