At a symposium held in Shenzhen last Friday, Xia Baolong, director of both the Hong Kong and Macao Affairs Office of the State Council and the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, delivered a significant message to Hong Kong’s business leaders. He called on them to demonstrate their love for the Hong Kong Special Administrative Region and the nation through concrete action and detailed a comprehensive vision for building a brighter future for the city. His words reflect both the central government’s high expectations and the responsibility Hong Kong’s business community must shoulder as it navigates the challenges and opportunities ahead.

The business sector has always been vital to Hong Kong’s economy, and now, as the city faces a turning point in development, it must align more closely with the SAR government to drive reform and support the nation’s broader strategies. Xia’s speech offered a road map for Hong Kong’s development, built on six core priorities.

First, Xia emphasized that businesses must stay rooted in Hong Kong, treating it as their home and contributing actively to its prosperity. They should also explore new industries and business models, going beyond the traditional sectors that have driven the city’s economy.

Next, businesses must support the SAR government in implementing its long-term development plans, recognizing that stable economic growth requires both private and public sector cooperation. Xia also underlined the importance of corporate social responsibility — businesses should play a bigger role in improving the lives of Hong Kong’s people, not just their own bottom line.

Another priority is telling the true Hong Kong story abroad. Business leaders have a role to play in promoting the city’s image internationally, helping to attract investment and strengthen its reputation as a global hub. Finally, Hong Kong’s business community must align itself with national development strategies, particularly initiatives like the Guangdong-Hong Kong-Macao Greater Bay Area, to unlock new growth opportunities and stay competitive in the global economy.

These aspirations for the Hong Kong business community provide a strategic framework for the city’s future, reflecting the central government’s vision for the role that business leaders should play as the city evolves. As China advances its own high-quality development, Hong Kong SAR must embrace reform and innovation to remain relevant in both the national and global arenas.

Historically, Hong Kong’s business community has been known for its adaptability, but in recent years, there has been hesitation, particularly when it comes to investing in high-risk sectors like technology. While Hong Kong has long thrived on its traditional strengths — finance, trade and logistics — it can no longer rely solely on these industries. The world is changing fast, and Hong Kong must innovate to stay ahead.

The time for action is now. Business leaders must rise to the challenge, taking responsibility not just for their own success but for the success of the whole city. By doing so, they will help secure a prosperous future for Hong Kong and contribute to the nation’s broader development goals

One area in which Hong Kong has fallen behind is technology. Cities like Shenzhen have surged ahead in innovation, thanks in large part to business involvement. Hong Kong must catch up, especially in light of potential challenges such as the export restrictions of the United States on technology products. This shift isn’t optional — it’s essential for Hong Kong’s competitiveness.

Xia also stressed the need to strengthen Hong Kong’s traditional industries by modernizing them. He pointed to the city’s roles as a financial hub, shipping center, and trade port as areas where Hong Kong should continue to lead. However, even these industries need to innovate to enhance their competitiveness. For example, Hong Kong’s once-dominant position in global shipping has slipped, with many Chinese mainland ports overtaking it. To stay competitive, Hong Kong should diversify its shipping services by expanding into areas like insurance, registration and arbitration, which can help modernize the sector.

The message is clear: Hong Kong’s business community cannot wait for favorable conditions. As the main driver of the economy, businesses must take bold steps to lead the city’s transformation. This means exploring new industries, investing in innovation and supporting the government’s vision for long-term growth. Only then can businesses unlock new opportunities and ensure Hong Kong remains competitive in the global arena.

Hong Kong has always thrived on its ability to adapt to change, and its business community must now draw on this strength. With the right mindset and a commitment to investing in the future, Hong Kong can continue to be a city of opportunity for generations to come.

The time for action is now. Business leaders must rise to the challenge, taking responsibility not just for their own success but for the success of the whole city. By doing so, they will help secure a prosperous future for Hong Kong and contribute to the nation’s broader development goals. The stakes are high, but so are the opportunities. Hong Kong’s business sector has the potential to lead the way — if it is willing to embrace the change that is urgently needed.

The author is the convener at China Retold, a member of the Legislative Council, and a member of the Central Committee of the New People’s Party.

The views do not necessarily reflect those of China Daily.