Hong Kong Plans Regional ‘Soft Connectivity’ Through Digital Trade, Carbon Markets

Hong Kong plans to develop regional “soft connectivity” through digital trade agreements, carbon markets and cross-border logistics policies, Stephen Wong Yuen-shan said at the Asia-Pacific Think Tank Forum in neighbouring Shenzhen.

Wong, head of the Chief Executive’s Policy Unit, said on Monday that Hong Kong was transforming itself into the region’s institutional “harbour”. He described the city as a place where trade from regional markets could converge and benefit from Hong Kong’s “soft connectivity” advantages.

Using Hong Kong’s institutional strengths

Wong said Hong Kong’s institutional advantages, along with its close ties with mainland China and the wider world, could contribute to prosperity across the Asia-Pacific region. His remarks positioned the city’s role beyond trade alone, linking its institutional strengths with regional governance and the sharing of prosperity.

He said “soft connectivity” could help turn Hong Kong’s unique advantages under the “one country, two systems” principle into effective regional governance. According to Wong, this would involve embedding Chinese standards into the process of sharing prosperity across the region.

The proposed areas of cooperation include digital trade agreements, carbon markets and policies governing cross-border logistics. Together, these areas reflect Hong Kong’s stated intention to build links through rules, standards and policy coordination.

Wong delivered the keynote address as Hong Kong sought to develop this regional “soft connectivity” and strengthen its contribution to Asia-Pacific prosperity.

Source: South China Morning Post