As stated, "Our analysis has shown that the structural changes have affected the balance underpinning Hong Kong’s status as an IFC," which serves as the foundation for rejecting such plans. Instead, the paper advocates for a strategic shift towards developing Hong Kong into a leading center for green and sustainable finance.
The research emphasizes that Hong Kong's prosperity has historically depended on its unique position as a bridge between China and the West, with its market, legal system, and values blending both cultures. However, recent challenges to this balance highlight the need for the Hong Kong Government to embrace green finance as the city’s future development direction. The transformation to a green finance hub is positioned as a strategic move to preserve Hong Kong’s global relevance and distinct hybrid identity, while contributing to broader environmental goals.
Finally, the paper urges the Hong Kong Government to seize the opportunities arising from global green transformation, particularly in Mainland China and the Greater Bay Area. By embracing multilateralism and leading in cross-regional cooperation, Hong Kong can strengthen its role as a platform for green development, fostering sustainable growth not only in Asia but globally. As noted, "Hong Kong must seize the historical opportunity of green transformation in China and the world and build itself into a platform that integrates the shared beliefs in China and the West for green development." The research concludes by recommending a clear transition plan for green finance, with concrete goals and stakeholder involvement, ensuring Hong Kong's continued importance on the global stage.
FULL ARTICLE HERE
