[Sponsored article] The revival of Hong Kong’s economy in the wake of the coronavirus crisis will require bold action and inspired leadership. With many businesses on their knees and whole sectors struggling for income, there is a need for clear thinking and decisive moves to get people back to work and to restore the city’s position and reputation as a dynamic commercial hub. With that in mind, the South China Morning Post is organising its next China Conference: Hong Kong. This time, however, the conference will be held exclusively as a two-day virtual conference from May 14-15. The two-day online event – the first of its kind for the SCMP – will bring together respected voices from the worlds of business, tourism, technology, academia, and government to discuss the challenges ahead and share their analyses and recommendations. Their presentations and panels will be live-streamed to anyone who registers for the event. It will be a chance to hear from senior executives who have led their companies back from previous recessions. And it will illustrate how such experiences can – and should – be used to redefine objectives, promote innovation and spur future growth. “Back in 2003, after SARS, the Hong Kong government initiated the Individual Visit Scheme for travellers from the mainland; this revived the marker very quickly,” says Dr Allan Zeman, chairman of Lan Kwai Fong Group. “Since we are part of China, working together with the mainland will really help to jump start the economy. The most important thing now is to get things back on stream, so that jobs can be protected and people have a sense of security and start spending again. For a while, we may have to be very patient, but once Covid-19 is over, Hong Kong needs to come out with big promotions blasting around the world to let everyone know that we are open for business.” For Donald Choi – the chief executive officer of Chinachem Group and a confirmed speaker at the conference – a clear priority is for Hong Kong to restore its competitiveness and its status as a liveable city in order to attract talent and capital. He sees those as key factors which determine long-term prosperity and stability and the general health of the property market. “While housing prices have been under pressure and sales have slowed, we are unlikely to see a repeat of the huge price drops of 2003 or in 2008 during the global financial crisis, but there will be more room for negotiation,” Choi says. “I also expect investment portfolios will continue to increase the weighting of real estate stocks as they look for a relatively less risky asset class to park their money.” The main concern for Tara Joseph, president of the American Chamber of Commerce in Hong Kong, is the extent to which Covid-19 will hurt global trade and how that will affect consumer demand. She suggests this may lead to a major review of sourcing patterns and supply chains. “Manufacturers are now aware that unforeseen ‘black swan’ events can disrupt trade, and they are already seeking ways to ensure a more flexible supply chain,” Joseph says. “That may cause some ‘reshoring’ of manufacturing and a rethink to avoid being too dependent on one country i.e. China.” To hear more, get your free access now .