Hong Kong only place in China that can replicate SpaceX model, CY Leung says
Ex-leader says city offers environment for companies to tap country’s capital, talent and technology for rapid growth in short time frame
Hong Kong is the only place in the country able to replicate the short-window growth model that US tech giant SpaceX used, former city leader Leung Chun-ying has said, calling for the development of local professional services for the emerging aerospace industry.
Earlier this month, SpaceX’s record-breaking initial public offering (IPO) raised US$85.7 billion, making its chief executive Elon Musk the world’s first trillionaire.
“Elon Musk leveraged the highly market-oriented economy of the US and the power of a capitalist society to pool the country’s capital, talent and technology in a short period of time,” Leung told a radio programme on Sunday.
“Among all cities in our country, which one possesses such a capitalist market force to allow for a model akin to Elon Musk’s? It is Hong Kong.”
Leung stressed that Hong Kong was well-positioned to develop professional services to support the growth of the aerospace and shipping sectors, including legal, insurance and financing services.