Why Hong Kong’s elites must become risk-takers again

Hong Kong is drafting its first‑ever five‑year plan, a historic blueprint to chart long‑term development. Much has been said about reforms and paradigm shifts, but far less attention has been paid to the true architects of this journey: Hong Kong’s elites. Their choices will determine whether the city reinvents itself as an innovation hub or slides into stagnation.For decades, Hong Kong’s movers and shakers maximised returns from finance, trade and real estate. But as the global economy pivots towards technology and innovation, these engines face mounting headwinds.To navigate this transition, Hong Kong requires a profound “power shift”, a systemic re‑engineering of mindsets, incentives and risk appetites across business, bureaucracy and academia.