The
SUPER-CONNECTOR
The Role of Hong Kong in the new World Order
Hong Kong is on the upswing again. After an economic downturn due to mass protests in 2019/20 and the Covid19 pandemic, the Gross Domestic Product of the Special Administrative Region grew by 2.5% in 2024 compared to the previous year. With new infrastructure projects and initiatives, the government wants to strengthen Hong Kong’s role as a “super-connector”. This results in interesting business opportunities for entrepreneurs and executives from all over the world.
Chek Lap Kok Airport is being expanded into an airport city almost 30 years after its opening. Under the name “Skytopia”, the site is to be developed in various stages between 2025 and 2031 for 100 billion Hong Kong Dollars (HKD), the equivalent of 12.8 billion US Dollars. The plans were presented in mid-January 2025 and, in addition to hotels, restaurants and offices, also include a shopping center with 350,000 square meters, a marina with 500 berths, a sports arena with 20,000 seats, an art center, water sports and leisure facilities as well as an expansion of the AsiaWorld Expo. For a large part of the investment volume of 70 billion HKD, the airport authority is looking for international investors. In addition, Skytopia offers companies from a wide range of industries (including construction, retail, hotel, gastronomy, leisure, sports, art) tangible starting points for realizing the project.
Creating a platform for experts and investors
For the airport authority AAHK, the importance of the project goes far beyond the pure travel function. “Our vision is to develop Skytopia into a landmark of its own, and a world-leading destination,” said Fred Lam, Chairman of the AAHK. The airport city is intended to attract travelers from the Greater Bay Area, Asia and the rest of the world. It is now a matter of building the key infrastructure and creating a platform for experts and investors.
Northern Metropolis and West Kowloon Cultural District
Skytopia is an example of a number of measures that the government is currently promoting to strengthen Hong Kong’s international role. As highlighted by Chris Lo at the Hong Kong Trade and Development Council’s New Year’s reception on February 18, 2025, work is currently underway on a second city center in the Northern Metropolis on the border with Shenzhen, which will provide space for 2.5 million people and 650,000 jobs. Economically, the focus is on innovative companies, especially in the pharmaceutical and sustainability sectors. In addition, Chris Lo mentioned the new West Kowloon Cultural District with museums in the field of contemporary art, among other things, as an example of a large infrastructure project that was advised by the German architect Werner Sobek on sustainability.
Know-how about China as a key factor
These infrastructure projects are part of the plan to further anchor Hong Kong internationally. As former Prime Minister Leung Chun-ying, who was in office between 2012 and 2017, said at a conference in Kuala Lumpur in February 2025, Hong Kong should use its relationship with China to work with other Asian economies. “In the new world order, knowledge about China will be the crucial key to understanding the opportunities that it offers,” Leung said. In this respect, he described Hong Kong as a “super-connector” that connects China and other countries.
SAR lease extended beyond 2047
In 2024, the Chinese government eased entry requirements for the mainland population to Hong Kong. In addition, the government of the Special Administrative Region announced a number of development plans, e.g. for tourism as well as the cultural and creative sector. In addition, the Capital Investment Entrant Scheme was reformed in March 2024. It allows people from different countries to obtain permanent residency in Hong Kong if they invest at least HKD 10 million (approx. EUR 1.2 million) in assets such as equities in Hong Kong. In 2024, the lease agreement of the Special Administrative Region was also extended beyond July 2047 for the first time. This is intended to signal to international investors that the policy “one country, two systems” will continue to apply.
What is a Super-Connector?
Strengthening Hong Kong’s role as a hub for international investors and companies in Asia aims at being a “super connector”. By the way, if you are looking for a definition of this term, you will quickly find it on the Internet: “A super-connector is a people-person – the type of person who knows hundreds or thousands of people and remembers each of their names. Not only do they love meeting new people, but they can also recall details about their passions or personal lives with ease. They use this info to connect colleagues and friends and bring together people that might be good collaborators,” writes Cameron Nouri for the Pingboard Blog. With more than 53 million passengers and 363,305 take-offs and landings at Chek Lap Kok Airport, more than 200 major events per year, 9,960 companies with a foreign background and exclusive access to mainland China, this target seems within reach for Hong Kong.
Board Journal – February 18, 2025
