Hong Kong should tap space economy, attract more top-end gatherings: Regina Ip

Hong Kong can boost growth by tapping into the space economy and hosting more top-tier international events such as the Apec finance ministers’ meeting, the top adviser to the city’s leader has said.

Regina Ip Lau Suk-yee, convenor of the key decision-making Executive Council and chairwoman of the New People’s Party, also proposed a HK$50 million (US$6.4 million) fund on Wednesday to help young local musicians and artists train and compete overseas.

She cited pianist Aristo Sham Ching-tao, who became the first musician from Hong Kong to win the prestigious Van Cliburn International Piano Competition in the US last month.

Ip’s party has made submissions to Chief Executive John Lee Ka-chiu ahead of his third policy address, which is expected to be delivered in September.

She said Hong Kong was “well positioned” to pursue the commercial potential of space, adding doing so would complement the low-altitude economy, which Lee vowed to develop in his 2024 policy address.

“We have scientists at our universities already engaged in supporting the nation’s open space development,” Ip said, describing the suggestion as one of her party’s key suggestions.

“We are well positioned to provide financial support, fundraising support … We have a common law system that can help our government provide input into how to regulate open space for peaceful uses.”