In the bygone days, there were no “enterprises” in Hong Kong. Only small firms, street corner shops, and home handicraft-makers dotted our backwater hometown. But in this tiny place with no natural resources, the “entrepreneurial spirit” of Hong Kong people blossomed everywhere, creating the miracle of the Pearl of the Orient that is now home to multinational enterprises, State and private enterprises, small and medium-sized enterprises, and startups. Enterprises have become Hong Kong’s growth engines. How do they answer the call of our times?

The call has been articulated by the director of the Hong Kong and Macao Affairs Office of the State Council, Xia Baolong, in his recent message congratulating Our Hong Kong Foundation on its 10th anniversary. He said, “I hope everyone will thoroughly study and implement the spirit of President Xi Jinping’s important reply letter to Hong Kong entrepreneurs, fulfill the fine tradition of patriotism and love of hometown, adapt to the development and changes of the times, accurately understand changes, respond scientifically, and actively seek changes.”

Indeed, identifying changes, adapting to changes, and seeking change are key to the success of enterprises. For example, in our early days in this barren place, a gentleman, U Tat-chee, looked at a small indigenous snack “sugar ginger” and saw gold in it. Spotting changes and responding scientifically, he improved the quality of sugar ginger, repackaged it and, in an era when the concept of “globalization” did not exist, he globalized sugar ginger, sold it overseas, and turned it into Hong Kong’s signature export, so much so that Britain’s Queen Victoria designated it as a must-have treat at royal banquets. Known as the “Sugar Ginger King”, Mr U displayed the entrepreneur’s spirit of recognizing changes and adapting to changes.

Similar success stories were aplenty in those difficult times. We had startup enterprises buying plastic raw materials, turning them into luxuriant plastic flowers, and exporting them to the European and American markets. Factories were unaffordable at that time, and public transportation for workers was hard to come by, so our entrepreneurs came up with the original work-from-home arrangement that has regained popularity since COVID-19.

The early version of working from home was not only a win-win for businessmen who couldn’t afford proper factories and housewives who needed extra money to feed their children — it created a huge number of work-from-home jobs for a community abundant in labor and scarce in jobs. It created wealth for the community. After earning the first pot of gold, our entrepreneurs scaled up production and then diversified, and then opened proper factories, ushering Hong Kong into a new era as a manufacturing base.

Another big change came with China’s reform and opening-up in the late 1970s. Riding on the changes and spotting the opportunities, our entrepreneurs came up with the business model of “Hong Kong office, Chinese mainland factories” that subsequently inspired overseas multinationals to offshore their manufacturing base to the mainland. That business model propelled Hong Kong’s rapid rise to become the world’s second-largest manufacturer and exporter of textiles, toys, watches and clocks, and electronics products. The thriving manufacturing and trade spurred the growth of the professional service industry, including finance, accounting, insurance, law, shipping and aviation, tourism, and intellectual property rights, transforming Hong Kong into a world city.

These are stories of our glorious past, of adapting to changes and seeking changes, and the spirit of “from society, for society”.

We have a significant community of expatriate entrepreneurs and professionals who call Hong Kong home. With diverse nationalities and ethnicities, they are authentic and credible voices to tell our stories to the world. Indeed, this is what Our Hong Kong Foundation has been doing in our monthly “Our Hong Kong Stories” high tea series. We welcome the Hong Kong business community to join hands with us

Today we are facing new challenges, with geopolitical tension rising, disruptions to global supply chains growing, economic headwinds buffeting, and global competition intensifying. Against this backdrop, Hong Kong enterprises are investing more in the spirit of adapting to changes, creating value for businesses and for the community alike.

Despite the challenges, the prospects for enterprises today are brighter than ever as Hong Kong is now more pro-development and pro-growth. On top of our simple tax system, an efficient and clean government, and the free flow of all critical ingredients for success, we have the strong backing of our country. We have the world’s most complete supply chain and manufacturing base on the mainland to help turn our innovative ideas into commercial products. We also have the unique advantage of “one country, two systems”.

Our enterprises can contribute to Hong Kong’s development as “eight major centers”, as set out in the 14th Five-Year Plan (2021-25) for national development. These development goals need public policy underpinnings, and enterprises have amassed a lot of expertise to offer advice on policymaking. They can also partner with like-minded think tanks to conduct policy research and make recommendations to ensure that our public policy dovetails with our long-term development goals.

Another call of our times is to tell the China story and spread Hong Kong’s voices to the international community. We have a significant community of expatriate entrepreneurs and professionals who call Hong Kong home. With diverse nationalities and ethnicities, they are authentic and credible voices to tell our stories to the world. Indeed, this is what Our Hong Kong Foundation has been doing in our monthly “Our Hong Kong Stories” high tea series. We welcome the Hong Kong business community to join hands with us.

Changes breed opportunities. This is the time for our business enterprises to rise to our collective calling, ride on the changes, seek changes, and create a better Hong Kong for all who call it home.

The author is chairman of Our Hong Kong Foundation. 

The views do not necessarily reflect those of China Daily.