Hong Kong’s economic growth depends on mindset shift, former leader CY Leung says citing trade, shipping services as focus areas
- Leung identifies trade and shipping services as areas for city in pursuing second- or third-tier mainland companies to set up offices
- Former leader also lashes out at business groups for failing to conduct research on robust mainland market’s different industries
Leung said on Friday that the business sector was sluggish and “lacked specific action” because it was bogged down by people who “did not know what to do, dared not to do, and feared putting in the effort”.
The government has sought to prioritise economic growth following the city’s passage of a domestic national security law in March.
A day after taking part in a public seminar on driving economic growth, Leung lashed out on Facebook at business groups for failing to conduct research on the robust mainland market’s different industries.
He said more research was required to raise understanding on various provinces and autonomous regions, which would enable Hong Kong businesses to tailor what they could offer to meet the needs.
He urged institutions and people in power not to “lie flat” and adopt the “do-less-and-make-fewer-mistakes” mentality.
“Society must also be tolerant of institutions and people in power to make mistakes,” said Leung, now a vice-chairman of the country’s top political advisory body, the Chinese People’s Political Consultative Conference.
