Super-connector brands like Cathay Pacific and Lee Kum Kee are Hong Kong’s superpower
- Trusted and loved companies that tell a piece of the Hong Kong story are vital to the city’s comeback. It’s time to focus on a soft power strategy
Their common denominator? These are all companies telling a piece of the Hong Kong story and are trusted or loved (sometimes both) by millions. They are part of Hong Kong’s DNA.
Why are these companies even more important to Hong Kong now? Because we have lost time, reputation and appeal, largely as a result of the Covid-19 pandemic. According to the most recent Economist Intelligence Unit’s Global Liveability Index, Hong Kong had fallen to 62nd place last year from 49th in 2021.
Our city must now catch up and regain momentum. Our hardware is world-class: we have built brilliant and efficient infrastructure for residents and visitors alike. The same is true of our talent: our people have dynamism and energy like nowhere else.
Add these factors to Hong Kong’s unbeatable lifestyle – from mountains and beaches to the city and some of the best bars and restaurants in the world – and we have every reason to feel positive about the future.
The problem, however, is that these companies often need help to identify the right track for growth while seismic global changes are taking place. Our brands of legends need to continue building their business and brand stories with strategies that make geographic sense.
An important asset to all Hong Kong’s brands of legends will be creating bonds with different stakeholders who are in a position to build new business networks, open doors to growth opportunities and bring fresh thinking to management.
I see many of our brands of legends benefiting from this type of active engagement with supportive stakeholders, with the goal of creating value for all parties. If the Hong Kong community pursues this approach, we will build a powerful, global ecosystem of socially conscious businesses that do good for society and, at the same time, achieve growth and success both locally and internationally.
Ronald Chan is the founder and chief investment officer of Chartwell Capital Limited, a Hong Kong-based asset management company. He is a shareholder of all the listed companies mentioned in the article