Hong Kong can boost regional prosperity through ‘soft connectivity’, adviser says

Hong Kong's strategy to become an institutional "harbour" emphasizes its role in facilitating trade through "soft connectivity." This approach aims to utilize the city's unique position under the "one country, two systems" framework to embed Chinese standards within a framework of shared regional prosperity. The focus is on institutional advantages rather than solely economic ones.

The concept of "soft connectivity" as described by Wong includes specific initiatives such as digital trade agreements, carbon markets, and cross-border logistics policies. These areas suggest an intent to develop frameworks that streamline regional economic interactions, potentially influencing how technology-driven trade and environmental initiatives are governed across the Asia-Pacific.

This strategy indicates an effort to formalize and expand Hong Kong's influence beyond traditional financial services into broader regional governance and policy coordination. By developing these "soft connectivity" mechanisms, Hong Kong seeks to become a central hub where various regional markets can converge and adopt common standards and practices, particularly those aligned with mainland China.