Hong Kong politician Bernard Chan on the city's unique role and global position in a changing world
Bernard Chan is a Hong Kong politician and businessman. He has been in politics for 25 years serving the Hong Kong government and previously served as Non-official Convenor of the Executive Council from 2017 to 2022. He was also Hong Kong Deputy to the National People’s Congress of the People’s Republic of China for 15 years and served 10 years in the Legislative Council of the Hong Kong Special Administrative Region. Outside of politics, he is the chairman and president of Asia Financial Holdings and also serves as an independent non-executive director on the boards of a few listed companies including Cathay Pacific Airways Limited. He is also a director of Bumrungrad Hospital Public Company Limited in Thailand, a director of Bank Consortium Holding Limited, an advisor to Bangkok Bank (China) Company Limited, and chairman of Asia Insurance Company Limited. Bernard currently holds the following key positions in public service: Chairman of the Operations Review Committee of the Independent Commission Against Corruption, Chairman of M+ Museum, Vice Chairman of West Kowloon Cultural District Authority, Chairman of Tai Kwun Culture & Arts Co Ltd, Chairperson of the Hong Kong Council of Social Service, Executive Vice Chairman of Our Hong Kong Foundation and Steward of the Hong Kong Jockey Club.
Audrey Plimpton, Communications Associate: How do you see Hong Kong's unique position as a bridge between the "East" and the "West" evolving in the next decade, particularly in light of increasing geopolitical tensions?
Bernard Chan, Former Member of the Executive Council of Hong Kong and Chairman and President of Asia Financial Holdings Ltd.: Hong Kong will always continue to be a very special city for China. Now we have the so-called "one country, two systems". We have a different legal system. We have a different currency system from China. So we are the gateway for China [and have] always been. But of course, under the current geopolitical tension, it has been very difficult for Hong Kong, especially for us to play the role for China with the US. We will continue to engage with [them] because we are still the financial center. We have a very big aviation hub, and we continue to be now an up-and-coming art hub as well, an arts and culture music hub. Hong Kong will stay very international and will continue to serve very purposeful [and] to add value to China as China continues to engage with the world through Hong Kong.
AP: The recent Hong Kong International Cultural Summit highlighted the city's growing influence in the global cultural sector. How do you see cultural diplomacy playing a role in Hong Kong's efforts to enhance its soft power and foster international relations?
BC: I graduated with a studio art degree some 30 years ago, but back then, Hong Kong had no arts and culture and music. I mean, [all that] most people in Hong Kong care about is money [and] making money. It's been amazing in these last 25 years. What a transformation to where we are today. We perhaps are now by far the largest arts and culture hub in Asia, if not the world as well. We have spent 5 billion USD in developing this district, and only about 50% [has been] built so far. We have amazing visual art museums. We have performing art venues. But what is actually even more important apart from the public sector, is the private sector. Hong Kong has now become the second most [well-known] contemporary art trading [location] in the world after New York. That's where the money is. Lots of money has been spent in art because it's considered as an alternative investment. Out of nowhere, we have this whole ecosystem front and center in Hong Kong. Art Basel is in Hong Kong, the only place in Asia, Art Basel is here in Hong Kong. We also just recently signed 21 MoUs with international art institutions, together with us. This is really now becoming a major pillar of Hong Kong, in addition to financial centers as well as aviation logistics centers.
AP: What are the key challenges and opportunities for Hong Kong in navigating a multipolar world or where power dynamics are shifting? How can Hong Kong leverage its strengths in finance, trade and culture to remain relevant
BC: Hong Kong will remain a very important international financial hub [in] trading, aviation, art, and so on. But what [is] more important for Hong Kong is people. We have an amazing infrastructure, but we require the best talent to come here to this city. Currently, we are facing some challenges. We have, obviously, Covid, and then we have [the] migration of some of our talents. This is a crisis that we currently need to address, and we hope we can attract these talents to come to Hong Kong to serve this region. Hong Kong will continue to be serving both the world together with China. But people is the key asset for us.
AP: Looking ahead, what initiatives or policies do you believe are crucial for Hong Kong to implement in order to maintain its competitive edge and international standing, especially in the face of challenges posed by other rising Asian cities?
BC: Hong Kong needs to continue to keep our legal system very uniquely Hong Kong, because under the "one country, two systems", Hong Kong's legal status [is] very different from those in China. That's actually what makes Hong Kong so unique because the rule of law is a system that everybody [is] comfortable with. A lot of people want to do deals in Hong Kong. That needs to remain and continue. Then of course, Hong Kong needs to remain to be an attractive place. People want to move here not just to work but to live. So Hong Kong is very safe. That's very good. But also we have to have a good quality of life so that we can attract the talents and the families to come move here. Because these days, talents are wanted everywhere, and you don't need to stay in one place to do a job anymore - you can be any place. But what is most important is where they want to put a family. In terms of family, of course, safety, education, quality of life, arts and culture - all of these matter. Hong Kong will hopefully [be] able to remain competitive because of these features that we have.
Bernard Chan attended the 2024 Salzburg Global weekend, which focused on "Looking 'East': Confronting Assumptions and Expectations of 'East' and 'West' in an Unstable and Multipolar World".
