Hong Kong urged to shift from role as ‘superconnector’ to ‘value-adder’

Hong Kong must move beyond its traditional role as a “superconnector” and reposition itself as a “super value-adder”, a leading think tank has said, urging the city to strengthen its role in global supply chains and align with national development amid geopolitical and technological shifts.In a 216-page report released on Friday, the 2022 Foundation – founded by Fung Group chairman Victor Fung Kwok-king – set out a road map for Hong Kong’s next phase of economic growth. It highlighted the need for structural change as the global economy shifts towards knowledge-intensive, innovation-driven and service-oriented activities.After decades as a superconnector heavily reliant on financial services, Hong Kong must pursue four key strategies to reinvent its economy, namely digitalisation, development of the Northern Metropolis, financial market innovation and alignment with China’s national development while preserving its distinctiveness.