As the fifth wave recedes, both government and corporate sector must continue to help individuals and struggling businesses, but also prepare for the recovery. Hong Kong also needs to shift from survival to investing in future growth, while still being prepared for the sixth wave.
As more Greater Bay Area companies look to offshore production, Asean can boost its workforce training and infrastructure to make the region more attractive.
Far from cannibalising traditional banks, the fintech boom has brought to industry innovative ideas and technology. The next fintech wave should see greater collaboration between big banks and niche fintech players, to the benefit of all.
Hong Kong will complement Guangdong under the bay area plan, with the city’s strong banking and financial sectors thriving alongside the province’s hi-tech manufacturing and growing services sector.
The latest data from the International Monetary Fund shows that, in terms of purchasing power parity, China's gross domestic product in 2014 is estimated to have surpassed that of the US.