It is the time of year when attention among many in Hong Kong turns to the upcoming chief executive’s annual Policy Address, which appears to be brought forward a little this year, given its importance.
Like any year, the commentariat, politicians, and external “interested parties” are eager to dissect its content, seeking evidence of consolidation, a change of tack, fiscal responsibility adjustments, or even unexpected new initiatives. Sometimes we need to take more measured risks in such an uncertain world, but of course, balanced carefully against everything else. While playing it safe has much to commend it, it sadly does not typically lead to significant, unforeseen breakthroughs or new directions that result in profound advancements and benefits. Although I am sure national security, vital as it is, will again be a key feature, I hope the emphasis will shift more toward the city’s bright prospects within a secure ecosystem, rather than on the mechanisms that currently ensure it. Sometimes too much focus on one area sucks the energy and oxygen away from the issues that people care and think about.
We need the population’s engagement more enthusiastically in policies that benefit real people, from the humblest street vendor to the captains of industry. These can be the low-hanging fruit that can be addressed, such as a better balance between landlords and the businesses that rent their properties. I have read many stories of companies that might otherwise survive going under due to short-term greed. This is brought home to me as I stroll the streets of Kennedy Town, where a proliferation of shop closures has been evidenced over the last two years. It is as depressing as it is instructive. Certain sectors, including the food and beverage sector, are struggling.
I am looking for the aspirational and inspirational this time around. Of course, and rightly so, I anticipate policies that benefit most of the population (with many close to the breadline) will figure prominently. Nevertheless, I hope there is some fiscal headroom for new initiatives that might be slightly riskier but have excellent prospects and align with some of the priorities of the Chinese mainland, thereby reinforcing our role as “Asia’s World City”.
We have recently heard how our university sector is a real, international standout. This is despite the recent 4 percent budget cut, the effects of which have not yet filtered through. These should be partially reversed and funding eventually restored as soon as possible, ideally with further increases. Why? In a highly competitive tertiary education world, where judicious investments yield substantial returns, securing funding ensures ongoing success and global appeal for exceptional talent. They can and do call Hong Kong home; they collectively provide benefits that the broader community will enjoy in numerous ways.
We need the population’s engagement more enthusiastically in policies that benefit real people, from the humblest street vendor to the captains of industry. These can be the low-hanging fruit that can be addressed, such as a better balance between landlords and the businesses that rent their properties
Much basic science is undertaken in our universities, but many also fail to appreciate its importance. It is surprising how many technology breakthroughs we take for granted that emerge from such blue-sky research, driven by innate human curiosity. This includes Wi-Fi (from radio astronomy in my home country of Australia). Universities are also incubators of ideas and new businesses that create employment opportunities. They are powerhouses of ideas for emerging high-tech industries that attract investment, and they are hotbeds of inspiration for young minds seeking tertiary education. This must increasingly cover a broader range of science, technology, engineering, and mathematics (STEM) subjects, including artificial intelligence, robotics, miniaturization, and aerospace, and not just medicine. It is these new and emerging STEM subjects that can lead to broad success for the Hong Kong Special Administrative Region.
In this vein, I have met several Legislative Council members over the last six months and had the opportunity to present ideas, documents, and suggestions in my particular area of aerospace and NewSpace, along with several key peers. We are talking not just about the low-altitude economy (LAE) that has had so much airtime, as it were, but the commercial exploitation of low earth orbit (LEO), upon which the LAE depends. In so many respects, we already possess the expertise, framework, and capacity in financial management, investment conduit, insurance excellence, compliance, arbitration, and regulatory framework needed to build a global hub for NewSpace, the commercial exploitation of LEO. I believe that seizing this mantle could be of great benefit to our city and is a vital policy gap that needs to be addressed.
In conclusion, I was recently invited to participate in a CGTN broadcast with a distinguished panel of three that was convened during the 2025 International Congress of Basic Science, which took place in Beijing in mid-July. This key event attracts over 1,000 scholars from the Chinese mainland and abroad, including Nobel laureates, Fields Medalists, and Turing Award winners. That China organizes such a large event is telling in itself. A key takeaway from our panel discussion at that meeting was that basic science is not a luxury, but an essential conduit to technological breakthroughs that can positively impact all our lives, and we can and must support it.
The author is director of the Laboratory for Space Research at the University of Hong Kong.
The views do not necessarily reflect those of China Daily.
