While people in Hong Kong have historically viewed the West as its important counterpart in terms of investment and trade, one participant suggested that the city should now also view the Global South as an important investment and trading partner too. The Middle East, in particular, was mentioned as a key destination for more cooperation. And one participant pointed out that Hong Kong should not forget about many of the countries in the Commonwealth, as these countries also speak English and have similar systems to those of Hong Kong. In a way, there are a lot of overlaps between the Global South and Commonwealth countries.

The notion of Hong Kong being the superconnector was mentioned quite a number of times during the discussion. But the nature of it has evolved as the mainland’s role vis-a-vis the rest of the world has evolved; China is no longer simply an exporter of goods. It has become an exporter of capital, technology and knowledge. China is also increasingly setting standards for products, technology and business models. As such, the role of Hong Kong as a superconnector is also evolving. Its role has expanded, requiring more capabilities from Hong Kong, but this also brings more opportunities.

As the world is being driven by two major forces, one trying to connect the world through more connectivity and collaboration, the other trying to divide the world through notions such as decoupling, derisking and “small yards, high fence”, people in Hong Kong need to be much more cognizant of what’s happening in the world and its impact on the mainland and Hong Kong.

To this end, while Hong Kong needs to continue to integrate into the mainland’s overall development, especially with the Guangdong-Hong Kong Macao Greater Bay Area, it also needs to maintain intimate connectivity with the rest of the world. As global geopolitics is becoming more complicated and situations of “one world, two systems” increasingly arise, Hong Kong’s role as a superconnector in this new world will become even more crucial, but will also require a much more sophisticated approach.

One challenging area concerns national security and, within that, data security. One participant highlighted the important need to find suitable ways to handle cross-border data security.

Clearly, the bedrock of all the above is the principle of “one country, two systems”. Hong Kong people’s interpretation of what this means has evolved over time. My sense is that today, most of Hong Kong’s elites already realize that “one country” is of overarching importance, while “two systems” provides Hong Kong with the flexibility, capacity and capabilities to unleash its potential.

One participant said that Hong Kong people used to be “street smart” and to look for ways to make money with a minimum of effort. It’s true that Hong Kong people are deal-driven and many have created wealth through this mentality and approach. However, times have changed. Today, Hong Kong people need to view things in a much more strategic manner. Street smartness is no longer sufficient to keep up with the mainland and the rest of the world. Fortunately, I have found increasingly that Hong Kong’s elites are taking a more strategic view on issues, thanks to the city’s increasing interactions with the mainland, where strategic planning is embedded in its government and business culture and practices.

If there is one word that can summarize what was discussed at the China Daily Hong Kong event, that word is “change”. In everyone’s discussions, I heard the need for Hong Kong to change. While some were more critical of Hong Kong, many were very hopeful. Everyone, I feel, really cares about Hong Kong, our home.

While narratives such as “Hong Kong is over” have been going round, I didn’t get that sense from those at our event. Hong Kong has plenty of challenges and we must work on addressing them with honesty, capability and collaboration.

I want to thank China Daily Hong Kong for inviting me to moderate this thought-provoking discussion. I learned a great deal and, importantly, I sensed a strong desire from those who joined to make Hong Kong a better place. To me, that is the strongest source of Hong Kong’s resilience.

The author is founder and CEO of Gao Feng Advisory Company, a strategy and management consulting firm with roots in China. The views do not necessarily reflect those of China Daily.