Hong Kong's Financial Secretary Paul Chan Mo-po stated that the city aims to become the world's second largest financial center within the next 10 to 15 years. The city must transition from merely being competitive to actively exercising global leadership amid geopolitical shifts.

Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive to exercising global leadership. But ambition alone is not enough. Hong Kong has spent decades proving it can operate at the world’s...