Hong Kong youths: Embracing new quality productive forces

In the ever-evolving landscape of global economies, the 2024 government work report presented by China's Premier Li Qiang at the opening meeting of the second session of the 14th National People's Congress in Beijing shines a spotlight on an ambitious target for economic growth and a steadfast commitment to fostering innovation. Amidst this backdrop, the support for Hong Kong Special Administrative Region (HKSAR)'s economic development and integration into the Guangdong–Hong Kong–Macao Greater Bay Area's construction has been unequivocally emphasized. The report heralds a pivot towards embracing new quality productive forces, marking a pivotal moment for HKSAR to align with national development strategies and secure its long-term prosperity and stability.

To gain a deeper understanding of the youth perspective on this topic, CGTN Host Enoch Wong has engaged in insightful discussions with several members of The Y.Elites Association, a diverse group that includes young entrepreneurs, professionals, leaders and key figures from youth associations in the HKSAR, boasting over 1,300 members. As the future drivers of Hong Kong's development, it is crucial to understand how the youth perceive and engage with the concept of new quality productive forces. Their insights provide valuable context for the challenges and opportunities that lie ahead, as well as the potential role they can play in shaping Hong Kong's future.

Stephen expresses his enthusiasm for the emphasis placed on new quality productive forces during the Two Sessions, noting that it "says a lot about what China is strategizing moving forward in the next few years." He highlights China's shift towards "putting more of a focus on innovative industry" and its transition beyond being primarily involved in assembly and production to becoming "the inventor and innovator in a lot of industries." Moreover, Stephen is particularly intrigued by the mention of "building a more robust digital economy" and the implications of attracting "more talents and more entrepreneurs, bringing in new ideas and innovative technologies into their market." This sentiment strikes a chord with the Hong Kong youths, who recognize the importance of seizing the opportunities presented by this new era of development and actively contributing to China's evolving economic landscape.

The perspectives of these young leaders and innovators offer a unique lens through which to examine the implications of the 2024 government work report and the development of new quality productive forces. By understanding their aspirations, concerns and ideas, we can gain a more comprehensive picture of how Hong Kong youths are poised to contribute to and benefit from this transformative journey.

HKSAR stands on the brink of a transformative journey, spurred by the central government's directive to break free from traditional economic growth models and champion innovative frontiers. This section delves into the essence of pursuing revolutionary and disruptive innovation, illustrating how this pursuit of the "new" aligns with HKSAR's strategic vision for development.

Charlotte succinctly captures the essence of new quality productive forces, explaining that they "promote different industries into a higher level by using cutting edge technologies, implementing innovation and technology to improve the productivity of different industries." She further expresses her hope that this phenomenon can be seen in Hong Kong as well in the near future, "with creation of new industries and revitalization of traditional industries." This sentiment underscores the readiness and enthusiasm of Hong Kong youths to embrace the challenges and opportunities presented by this transformative journey, as they stand poised to contribute to the elevation of various sectors through the application of innovative technologies and forward-thinking strategies.

Insights from Hong Kong youths illuminate the palpable excitement and optimism towards embracing innovative pathways that redefine economic growth and societal progress. Charlotte enthuses that although the concept of new quality productive forces "had been circulating for a long time," it has now gained traction and now the concept has become a trending "buzzword." As a representative of Hong Kong youths, she expresses confidence in their ability to "bring some fresh ideas to new quality productive forces" due to their adaptability and quick learning capabilities, which make it "easier for us to perhaps accept some of the new ideas and how different traditional industries will evolve."

Furthermore, Charlotte highlights HKSAR's strategic position as a bridge between the Chinese mainland and the international community, noting that the city "has a strategic positioning because it is geographically close to the Chinese mainland and it thrives on its multicultural essence, a true melting pot of cultures and nationalities." She emphasizes HKSAR's "connections to different nations and its well-established financial infrastructure" as key factors that can also play a vital role in the development of new quality productive forces, underscoring the city's unique advantages in contributing to this transformative process.

Quality is not just a benchmark but the cornerstone of HKSAR's approach to nurturing new productive forces. This section explores the relentless pursuit of high-quality, efficient and disruptive innovations that set new standards in various sectors.

Conrad underscores HKSAR's robust research foundations, pointing to the widespread establishment of "university knowledge transfer translation offices" as a testament to the city's commitment to innovation. He acknowledges that "Hong Kong has certainly implemented a lot of measures in this regard, including programs to help with the university knowledge transfer," highlighting the concerted efforts to facilitate the translation of academic research into practical applications. Moreover, Conrad commends the recent initiative of setting up the Hong Kong Investment Corporation to make strategic investments, viewing it as "a big step forward" in supporting the development of new quality productive forces. This, along with a lot of the new initiatives currently in the current administration, demonstrates Hong Kong's proactive approach to fostering an environment conducive to innovation and growth.

Through discussions with Hong Kong youths, we uncover a collective aspiration to elevate the city's global stature by fostering excellence in education, technology and industry, thereby ensuring that quality underpins the fabric of the HKSAR's developmental narrative. Charlotte expresses her optimism, emphasizing that "Hong Kong is an ideal place for research and innovation, as well as the development of different talents and investments from around the world." She firmly believes that "Hong Kong will take up a very important role in that aspect for the development of the Chinese mainland," underscoring the city's potential to contribute significantly to the nation's progress. This sentiment highlights the youth's recognition of HKSAR's unique position as a hub for innovation and talent, as well as their confidence in the city's ability to play a pivotal role in shaping the future of the country's development and modernization drive.

The concept of productivity transcends mere output, embodying the efficient and effective transformation of innovative ideas into tangible outcomes. This section focuses on how HKSAR leverages its unique advantages and strategic initiatives, such as the Greater Bay Area's construction, to enhance its productive capacities.

As an investor and the Convenor of the Innovative Elites @ Qianhai, a startup incubation program organized by The Y.Elites Association under the HKSAR government's WeVenture scheme with support from the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Conrad possesses a deep understanding of the importance of seed funding. However, he emphasizes that successful ventures require more than just financial support, stating that "the first part is just getting a bunch of passionate, enthusiastic people together." He highlights the value of "having the monthly meetups and actually providing value during the monthly meetups," stressing the importance of collaborative efforts rather than relying on a single entity.

Conrad cites the new Greater Bay Area Youth Entrepreneurs Alliance as an excellent example of fostering synergy, noting that "one of the biggest themes is actually to facilitate the different members of this alliance to interact with each other." He underscores the significance of creating an environment where "everyone supports each other and builds everyone up," considering this type of synergy as "very important for the startup and an important aspect of a healthy tech ecosystem." These insights underscore the critical role of cultivating a vibrant and supportive community, beyond mere financial investments, in nurturing the growth and success of startups and entrepreneurial endeavors.

The city's role as a dynamic hub for innovation and productivity contributes significantly to national and global economic landscapes. HKSAR’s “one country, two systems” does provide competitive advantages and unique conditions for substantial development potential, but active innovation is still necessary to meet expectations and leverage the city’s advantages fully.

The development of new quality productive forces in HKSAR is not an isolated endeavor but a collective movement propelled by the synergy of government, industry, academia, the community and talents. This section discusses the elements that enable the flow of ideas, resources and innovations, highlighting the critical role of Hong Kong youths in this integrative process.

Conrad offers a compelling perspective on the role of youth in driving the adoption of new technologies, stating that "regardless of whether it is upgrading supply chains for a traditional industry or whether it is building EV companies or even like nurturing the very early-stage quantum computing sector, these are all initiatives [in which] I can see the younger generation as the major driving force." He firmly believes that this will contribute to the youth "playing a significant role in driving the adoption of these technologies," highlighting the potential impact of their involvement in various sectors.

However, Conrad also emphasizes the importance of addressing social issues related to technology access, noting that "not every single kid, and also not every adult has the privilege or the fortune to be able to access all this technology and play around with it." He stresses that "this is an important social issue that ... we're addressing," underscoring the necessity of "putting in good systems to make sure that the whole entire workforce develops these better understandings and better skills pertaining to these technologies."

Furthermore, Conrad highlights the significance of developing interdisciplinary talent at the managerial level, particularly in the context of HKSAR. He asserts that "it's really important to ensure that at the managerial level, and this is something that I think that it's important for Hong Kong to do. We develop good interdisciplinary talent." By this, he means "people who can combine expertise in their existing field of work with the basic knowledge about how different pieces of technology work," leveraging HKSAR's "very long-standing tradition of being able to add value with our professional industry."

The voices of Hong Kong youths shed light on the aspirations and challenges of contributing to a vibrant and sustainable future, underscored by a shared commitment to progress and innovation. They recognize the potential for HKSAR to play a significant role in the development of the mainland market. Stephen notes that "as Hong Kong youth and Hong Kong students, I think there are a lot of us are very interested in entrepreneurship in the mainland market, especially for their size and also a lot of the subsidy policies that the government can provide with us." He further elaborates that "as a technology student, even if it's not as an entrepreneur, for career opportunities, I think when I can see that the Chinese market and its technology industry is more advanced than other markets in the world, then I'm more inclined towards exploring my opportunities across the border in the mainland as well," highlighting the attractiveness of the mainland market for Hong Kong's youth.

The collective force of Hong Kong youths, united in their pursuit of innovation and progress, holds the key to unlocking the city's potential as a hub for new quality productive forces to drive the adoption of new technologies and contribute to the development of the Greater Bay Area and beyond.

The 2024 government work report not only sets the direction for HKSAR's economic and social development but also calls for a collective embrace of new quality productive forces. Lizzy emphasizes the crucial role that young people can play in contributing to these forces, stating that they bring "innovative ideas, sense of technology and sciences" and are "always willing to make change." She highlights HKSAR's unique strengths, including its emphasis on "technology, innovation, multicultural environment, close relationship with the Chinese mainland," and its "connectivity to the international market." These factors, Lizzy argues, "provide a unique opportunity for this city to foster the new quality productive forces."

Lizzy further elaborates on HKSAR's goals, noting that the city "aims to accelerate high quality development ranging from green development to digital economy and leveraging its position as an international financial center and an international innovation and technology center." She stresses that "Hong Kong should take our own advantage in international capital, talent, data and technology" and focus on cultivating "young scientists and professionals and technical talents who can promote innovative development, sustainable and high-quality output in various industries." Lizzy concludes by asserting that "these efforts are what we can do to support the objective of new quality productive forces."

The insights and aspirations of Hong Kong youths reinforce the city's readiness to navigate the complexities and seize the rewarding opportunities presented by China's modernization drive. With innovation as the compass, quality as the sail, and youth as the fuel, HKSAR is confident in charting a course towards a more resilient and prosperous future, firmly integrating into the national development strategy and contributing to the global narrative of progress and sustainability.

Conrad passionately concludes, expressing his belief that "we have reached a stage where technology can be very impactful and make a lot of changes to the world." He optimistically asserts that "all this technology can be used for good and to bring a world into a much better place," conveying his excitement for the future and the potential transformative impact of technological advancements. The words from the members of The Y.Elites Association encapsulate the sentiment of Hong Kong youths, who stand ready to embrace the challenges and opportunities that lie ahead, driven by a shared vision of a brighter and more sustainable future for all.