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HK's "Software" Assets Key to Future Success
Hong Kong's "software" assets are the key ingredients to leverage for Hong Kong's continuing success, a high-level company figure in Hong Kong said at the East Asia Economic Summit held Tuesday in Hong Kong.
James W. Hughes-Hallett, chairman of John Swire & Sons Hong Kong, one of the biggest consortiums in Hong Kong, said, "the rule of law is very deep-seated and this asset alone will distinguish us from the rest of Asia for years to come."
Other significant advantages over Asian competitors include Hong Kong's rigorous corporate governance regime, a focus on English language education, low individual and business taxes, and the city's ability to provide a level playing field to foreign corporations, he said.
President of Hong Kong Lingnan University Edward Kwan-Yiu Chen echoed by saying at the summit that "soft" elements like entrepreneurial spirit, highly valued skills and the ability to reach out to small and medium-sized companies will also become more important for Hong Kong in the future.
Chen said, under current conditions, "the Hong Kong government should refrain from doing too much, but it should concentrate on what it does well."
He pointed out that the Hong Kong government should take serious look on its immigration policies, which he believes should be liberalized to attract the best people, and its education policies, which he thinks should be strengthened to make Hong Kong people more adaptive and creative, especially in liberal arts and continued education.
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