Published: 19:41, May 2, 2024 | Updated: 10:15, May 3, 2024
Hong Kong must embrace change and nurture collaboration
By David Lie
Speakers and participants exhange views on how Hong Kong should embrace change and nurture collaboration in the new era at the AmCham 2024 China Conference on April 8, 2024. (PROVIDED TO CHINA DAILY)

After I spoke at the AmCham 2024 China Conference on April 8, some friends reached out to me with a note of caution. With a tone of concern, they asked, “David, don't you worry that, as a member of the CPPCC National Committee, you'll face criticism for engaging with Americans?” Gratefully, I responded, “Thank you for your concern, my friend. Our premier, Li Qiang, recently held discussions with Janet Yellen.” Promoting a positive portrayal of China extends beyond preaching to the converted; it necessitates opening a dialogue with those who might not see eye-to-eye with us, not merely with those who already stand with us.

For example, the audience at the conference raised concerns on the implementation of the National Security Law for Hong Kong and the recent legislation of Article 23 of the Basic Law among the international business community. It is imperative that we clarify these concerns to dissolve any negative sentiment that these laws may cause. Such clarification will not only alleviate apprehensions but also reinforce Hong Kong's position as a global business hub. Simply stating that we are on par with others is not sufficient.

A colleague who recently relocated his business from Hong Kong to Taiwan shared his thoughts on the matter, emphasizing the need for Hong Kong to adopt a mature approach in handling disappointments. Reflecting on experiences such as the controversy around Lionel Messi’s visit to Hong Kong this February, and interactions with Prince Ali from Dubai, it becomes clear that public grievances should be settled amicably. Taking lessons from the divisiveness seen during Donald Trump’s tenure as US president, it is vital for Hong Kong to avoid descending into unproductive conflict. As we navigate the present and future challenges, we must not become enamored of nostalgia but instead, tackle reality head-on.

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During the conference, several critical issues concerning foreign investors were left untouched. Topics such as border controls, the repatriation of profits from China, accusations of espionage, the perceived negativity regarding China's economy, and the escalating tensions across the Taiwan Strait were not fully discussed. Moreover, many are still nostalgic for the past, yearning for a return to an era of strong growth and prosperity, refusing to acknowledge that the world has evolved and that we cannot simply revert to our previous state.

In the face of such intricate interplays between political posturing and economic realities, our path forward is clear. As we move forward, the imperative for those in the world of commerce is simple yet profound: think business, talk business

In a personal analogy, when my wife questioned if I still loved her as she aged and changed, I always replied that true love for a partner encompasses embracing both their beauty and their imperfections. Critics often hark back to the past as the sole solution, failing to propose viable alternatives for the future. Before we level criticism, we ought to reflect on this question deeply.

As I fielded questions and navigated through the intricate discussions of the conference, I was reminded of the delicate balance between politics and business. When discussing politics, we often apply a different set of metrics, with blurred boundaries between morality and political strategy. However, in the realm of business, the deciding factor is clear-cut: the right price to close a deal. In business discussions, it is essential to maintain a focus on practical outcomes and mutual benefits.

In the face of such intricate interplays between political posturing and economic realities, our path forward is clear. As we move forward, the imperative for those in the world of commerce is simple yet profound: think business, talk business. By concentrating on the commercial aspects that drive our decisions, we can navigate through political and social landscapes with a clear vision, fostering an environment where international business can thrive in this new chapter for Hong Kong and China as a whole.

Last Friday, after attending the Shanghai mayor’s reception, where I had the opportunity to interact with prominent Chinese business leaders and government officials, I was even more confident that the opening of China is on the fast track. The dynamic atmosphere and the enthusiasm exhibited by the attendees further affirmed my belief in the immense potential for international business growth in China.

In this spirit, now is the opportune moment to seize the momentum and redefine new terms and conditions for your business in China. With the evolving landscape and changing policies, it is crucial to reassess and adapt our strategies to capitalize on emerging opportunities. By proactively engaging in constructive conversations and negotiations, we can shape a more favorable operating environment that aligns with our business objectives and fosters long-term success.

READ MORE: Hong Kong needs targeted fiscal policies for growth, not deficit scare

By thinking business and embracing the dynamic nature of the Chinese market, we can position ourselves as key players in this transformative era. The AmCham 2024 China Conference served as a platform not only to address current concerns but also to reinforce the vital dialogue between nations and businesses. It is through such engagements that we can truly embrace change and nurture the collaboration necessary for a prosperous future.

The author is a member of the National Committee of the Chinese People’s Political Consultative Conference.

The views do not necessarily reflect those of China Daily.