Hong Kong companies must shed their 'make a quick buck' philosophy and invest for the longer term if the SAR is to stay ahead of its competitors, a shipping executive says.
Speaking at the launch of a Master of Science in International Shipping and Transport Logistics course at the Hong Kong Polytechnic University, IMC group chairman Frank W K Tsao said shipping people also had to become more professional.
'I think Hong Kong has its good points, which Shanghai does not have, but if Hong Kong does not leap forward the [mainland] city will be able to catch up quickly,' he said.
He agreed with Swire Group chairman James Hughes-Hallet's call to Hong Kong people to improve their English-language capabilities and to boost links with the mainland.
Mr Tsao said Hong Kong had a good legal system and corporatisation was faster than even in Singapore. But it had to change its philosophy and follow the steps of developed nations, linking even more strongly with the international community.
The shipping executive said the Polytechnic programme, the first of its kind in the industry, aimed to produce good general managers and managers.