Chartwell Institute Calls for Task Force to Drive Hong Kong Business Growth
by Ronald Chan

Hong Kong has long played a vital role in connecting businesses, capital and talent across global markets. Financial Secretary Paul Chan recently reaffirmed this at the World Economic Forum in Davos, describing the city as both a superconnector and a super value-adder. We fully support the government’s vision and recommend setting up a dedicated task force to help implement this strategy effectively, ensuring businesses can scale, innovate and expand beyond Hong Kong’s borders.

The government’s latest budget presents a timely opportunity to strengthen Hong Kong’s role as a business hub, with plans to pour resources into establishing the city as an artificial intelligence hub. However, many local enterprises struggle to adopt AI due to limited resources, technical expertise and operational barriers. A dedicated task force could play a key role in bridging this gap by aligning AI initiatives with practical business needs, ensuring that local companies can take advantage of technology to remain competitive in an evolving global landscape.

Chartwell Institute believes what’s missing now is structured coordination. A multidisciplinary task force that brings together institutions responsible for trade and industry development, tourism promotion, innovation and technology, as well as stock market oversight could help address this need. By facilitating collaboration between AI developers, policymakers and local businesses, this working group could ensure AI evolves from a specialized industry into a widely adopted tool that enhances productivity and strengthens the broader economy.

The task force should focus on practical implementation. Its priorities should include helping businesses integrate AI into their operations, supporting SMEs in expanding into the Greater Bay Area, and streamlining regulatory processes to reduce barriers to growth. These efforts would not only improve Hong Kong’s competitiveness as an AI-driven economy but also create a stronger foundation for long-term business success.

Hong Kong’s superconnector role should also extend beyond attracting foreign investment to actively supporting local enterprises in scaling beyond the city. The Greater Bay Area presents enormous potential, yet many businesses struggle with fragmented regulations and operational hurdles. A dedicated mechanism to provide market intelligence, regulatory guidance and business matchmaking would help local companies navigate cross-border expansion more effectively.

At the same time, ensuring Hong Kong remains an attractive and efficient place to do business is essential. Reducing bureaucratic inefficiencies and improving coordination between government agencies would create a more agile regulatory environment, making it easier for businesses to innovate and grow.

The government has outlined a strong vision for Hong Kong’s future as a superconnector. Now, the focus must be on execution. A task force dedicated to driving this strategy would help translate policy ambitions into tangible benefits for businesses and the economy. By bringing together stakeholders from the public and private sectors, Hong Kong can reinforce its position as a global business leader while also creating new pathways for growth, innovation and economic resilience.