Chan Ching-chuen(first row, center), an academician of the Chinese Academy of Engineering; George Lam (first row, third left), deputy chairman of USPACE Technology; and Jane Lee (first row, third right), president of Our Hong Kong Foundation, pose for a photo with other attendees at the Green InnoForum on March 19, 2024. (PROVIDED TO CHINA DAILY)

Hong Kong’s unique advantages in finance, fundamental research, and international connectivity position it well to develop into an international hub for green technology and contribute to the green transformation in the Asia-Pacific region, experts said at the Green InnoForum hosted by think tank Our Hong Kong Foundation on Tuesday.

“The city boasts a thriving ecosystem and abundant resources in green finance, green technology, and green fintech. It has also rolled out proactive and viable policies for carbon neutrality and sustainable development,” said George Lam, deputy chairman of USPACE Technology, a commercial space company headquartered in Dubai and Hong Kong.

The Asia-Pacific region, as the largest and fastest-growing economy in the world, also stands as one of the major contributors to global carbon emissions and environmental pollution

The Hong Kong government on Feb 7 announced the offering of digital green bonds worth around HK$6 billion ($767 million) under the Government Green Bond Programme. Available in Hong Kong dollars, renminbi, US dollars and euro, the two-year bonds mark the second digital bond issuance following the government’s inaugural tokenized green bond issued in February 2023.

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Moreover, Hong Kong has launched several action plans to promote green development, including a roadmap for the adoption of electric vehicles in Hong Kong, a blueprint for achieving clean air, and an innovation and technology roadmap that could help transform these initiatives into realities.

In addition, the special administrative region enjoys complementary collaboration with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area and maintains close connections with regions such as the Middle East, Central Asia, ASEAN, and the European Union.

The Asia-Pacific region, as the largest and fastest-growing economy in the world, also stands as one of the major contributors to global carbon emissions and environmental pollution, Chan said. 

“Therefore, the success of the international community’s efforts to address the climate crisis hinges upon the ability of the Asia-Pacific region to achieve green transformation and energy conservation.”

Echoing George Lam, Chan Ching-chuen, an academician of the Chinese Academy of Engineering said in the keynote speech that Hong Kong is well-developed in fundamental research, with five universities ranking among the top 100 in the world and leading research institutions, but there’s room to develop its applied research.

It’s important for Hong Kong to fully understand its advantages under the “one country, two systems” principle, and forge cooperation with mainland cities in the Greater Bay Area

Against the backdrop, Chan said it’s important for Hong Kong to fully understand its advantages under the “one country, two systems” principle, and forge cooperation with mainland cities in the Greater Bay Area, such as Shenzhen, which excels in applied research and has a large market.

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“By leveraging such complementary strengths, the SAR can drive the commercialization of research findings in green technology.”

Enjoying the reputation of being the “father of electric vehicles in Asia”, Chan shared his perspectives on the developments in the automotive industry, noting that as the automotive revolution has entered a new phase, China’s automotive companies, which are expanding globally, should adopt a long-term mindset and learn industry norms worldwide.

“Hong Kong, with its unique position as a gateway between the Chinese mainland and the rest of the world, can play its role in introducing China’s advanced products and practices to the global market, and can also facilitate the adoption of international practices on the mainland.”

Contact the writer at irisli@chinadailyhk.com