Hong Kong is undergoing a significant economic transition, marked by a rise in family offices and its status as an offshore renminbi hub. To maintain growth, the city must focus on cultural infrastructure development, alongside attracting top talent and high-spending tourists.

Hong Kong is navigating a period of significant economic transition. The city is seeing a surge in family offices. It is an offshore renminbi hub and has one of the world’s most meaningful capital markets. However, it needs systemic change to attract and retain top talent, bring the Hong Kong diaspora back home and lure high-spending tourists. While our capital infrastructure is strong, our cultural infrastructure demands urgent attention. As outlined in China’s 15th five-year plan, the central....