Letters | Social media mockery will only drive Hong Kong to do better

Readers discuss the taunts calling Hong Kong a ‘relic’ of a financial hub, what the new district councillors must do, and why AI literacy must be taught in schools

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An electric monitor in Hong Kong’s Central district showing the Hang Seng Index on December 11. Despite stiff competition, Hong Kong remains one of three major financial hubs in the world. Photo: Edmond So

Published: 11:30am, 23 Dec 2023

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Talk on Chinese social media mocking Hong Kong as a “relic” of an international financial centre is outrageous (“Those who unfairly criticise Hong Kong must be put in their place”, December 6).

London, New York and Hong Kong are the three major financial hubs in the world because all of them have unique characteristics – they serve different time zones and have sound regulatory institutions and well-known historical backgrounds. They have also developed strong bonds over the years.

Although competitors such as Singapore and Shanghai are looking to replace us, Hong Kong still has an edge over them, being at the intersection between China and the West.

Critics point to the slump in Hong Kong’s stock market following the pandemic, and say Hong Kong is no longer as attractive as before.

Hongkongers have worked hard to turn a small fishing village into a renowned international financial centre. I believe it cannot be easily replaced by other places. And it goes without saying we will safeguard our interests.