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The Future of Hong Kong under One Country Two Systems

To celebrate the 30th anniversary of the establishment of the Master of Business Administration programme of The Hong Kong Polytechnic University (PolyU), a forum named "Managing the Future – the Future of Hong Kong under One Country Two Systems" was co-organized by the Chinese Executives Club of The Hong Kong Management Association (HKMA), Hong Kong Economic Journal, and the Faculty of Business of PolyU at the Hong Kong Convention and Exhibition Centre on 18 January 2020.

Renowned local scholars, including Ir Professor Wai Ping-kong, the then Vice President (Research Development) of PolyU, Mr Jasper Tsang, Vice Chairman of Hong Kong Policy Research Institute and Mr Shih Wing-Ching, Chairman of Centaline Property Agency, were invited to attend the forum to discuss Hong Kong's political, economic and education situations.

Mr Jules Jiu, Chairman of the Chinese Executives Club of HKMA, and Ir Professor Edwin Cheng Tai Chiu, Dean of the Faculty of Business at PolyU, gave the opening remarks at the forum. Mr Teng Chuen-Cheong, Chief Editor of Hong Kong Economic Journal and Mr Man Cheuk-Fei, Chief Executive Officer of the Master Insight Media Limited introduced the speakers and gave an introduction to each speech.

This year marks the 30th anniversary of the establishment of PolyU's MBA programme. Professor Cheng recalled the history of the Faculty of Business and pointed out that the Faculty has been a pioneer in the sector. Its predecessor launched accounting, business and management courses in the 1970s. It founded Hong Kong's first honours degree in accounting in the 1980s. In the 1990s, the Faculty set up the first Doctor of Business Administration programme in Hong Kong. Recently, it launched the first-ever professional doctor's degree in Fintech.

With close to 50,000 graduates serving in politics, business and academia as well as other professional sectors, and Faculty members’ efforts in research and professional services, the Faculty has been ranked among the top 100 business schools in the world.

"Besides looking back and ahead, we shall review our teaching and research, and think about how to constantly make breakthroughs in knowledge and application, especially in terms of nurturing the young generations and fostering the development of management as a discipline, as well as adapting to and benefiting from environmental, generational and social changes," said Professor Cheng.

Ir Professor Wai Ping-kong delivered the keynote speech titled "University Management in the Age of AI and Big Data" and dealt with three aspects − the future trend, university management, and opportunities in Hong Kong under One Country Two Systems.

He believed that the world is driven by technology. Following the industrial revolution in the 1750s and the information revolution in the 1950s, artificial intelligence (AI) and big data will bring disruptive changes. And customized teaching mode is expected to cope with the information explosion age.

Professor Wei reckoned that China is well positioned to ride the wave of new technology and Hong Kong could benefit from One Country Two Systems and play a key role in the Belt and Road and Greater Bay Area initiatives.

Mr Jasper Tsang, Vice Chairman of Hong Kong Policy Research Institute, discussed the topic of "Managing the Future of Hong Kong". He quoted from a speech by Luo Huining, the newly appointed Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, emphasizing that Hong Kong could only take advantage of development opportunities if One Country Two Systems operates well; otherwise there will be chaos and disputes.

He mentioned that the key factor in successful implement of One Country Two Systems is the people of Hong Kong governing Hong Kong well. To ensure successful operation, it is critical to revisit the fundamental policies on Hong Kong stated by the Central government as well as to fully understand One Country Two Systems and keep firmly to this concept.

Mr Shih Wing-Ching said in his presentation that Hong Kong is frequently described as a place where "East meets West" with a complex of values including realism, elitism, populism and individualism. Choice of values will decide Hong Kong’s future.  He believes that political disputes will surely impact Hong Kong’s development prospects.

A roundtable, hosted by Mr Lo Wai-Shing, former Chairman of the Chinese Executives Club of HKMA, and the Club's Executive Committee member Ms Irene Ng, followed the speeches. The forum was successfully held with a full house.