Give Hong Kong’s talented Gen Z skin in the game or prepare for an exodus

Hong Kong’s millennials face diminished economic opportunities, widening income inequality and perceived interference with their way of life. More must be done to increase their political and economic participation, tapping their digital fluency

Adam Au

Published: 10:15am, 17 Aug 2020

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The controversial national security law has quelled the disruptive social movement that caused Hong Kong’s economy to smoulder. But in the seemingly tranquil city that has taken down all pro-Hong Kong independence flags and silenced all subversive slogans, resentment towards mainland China lingers.

Many see this quiet as brought on by fear of legal repercussions, even as, inspired in part by last year’s anti-extradition bill movement, there has been a shift in collective consciousness towards a uniquely Hong Kong identity that is ideologically non-Chinese.

Online, “we just really f**king love Hong Kong” has become a Gen Z catchphrase. While most Hongkongers still consider themselves Chinese – distancing from any allusion to an independent state – this is by far the most polarised Hong Kong has been since the handover.

Where Hongkongers once proudly identified as part of China, millennials and Gen Z no longer feel they belong to the special administrative region. There are reasons aplenty: diminished economic opportunities, widening income inequality, perceived interference with their way of life, and so on.

There is a generational element at work. Gen Z has no knowledge of a world without the internet and digital technology, as the first generation of true digital natives. Technology will be an essential component in their career development.

Yet, neither their technical proclivities nor sound understanding of the digital economy has brought rewarding careers. “If it ain’t broke, don’t fix it” is a tried-and-tested formula that many Hong Kong companies stubbornly cling to. More than anything, such reluctance to change may hasten the end of Hong Kong’s competitiveness.

How did we get here? History provides context: China’s isolationism and need for capital influenced events in the late 1970s. Since then, Hong Kong’s role as a matching agent between China and the world has became critical to China’s development.

The progressive integration has culminated in the Greater Bay Area vision, which aims to turn Hong Kong into part of an economic hub that rivals Silicon Valley. Hong Kong’s role is to provide a market-oriented business environment based on the rule of law.

02:35

China's ambitious plan to develop it own ‘Greater Bay Area’

One plan was for Hong Kong to invest in research in areas such as biotech and renewable energy. Research requires talent. But given Hong Kong’s idiosyncratic economic make-up, how many graduates would choose to work in a start-up or research instead of pursuing a safe career in law or medicine?

Today’s marginalised cohort did not enjoy Hong Kong’s prosperity in the ’80s, which preceded the acceleration of China’s economic engine. In city that is criticised for being ruled by real estate developers, one is hard-pressed to find ordinary people who have derived real benefits from, or have made an integral contributor to, the big-tech innovation that has been disrupting the old order.

Hong Kong has no shortage of creative talent. But its education system has failed to produce a ready-to-deploy workforce that can change fast enough to catch up with the rest of the world.

To avoid a mass exodus of talent to other countries, Gen Z must feel that it has skin in the game.

05:21

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The government needs to increase millennial representation in the executive branch. The rest of the world has seen more millennials taking centre stage. Britain’s Rishi Sunak was 39 when he became Chancellor of the Exchequer, while New Zealand’s Jacinda Ardern became the world’s youngest head of state at 37.

Indonesia’s education minister Nadiem Makarim is 36. With Brown University, Harvard University and McKinsey and Company on his resume, and with hands-on experience as co-founder of Indonesia’s first unicorn Gojek, Nadiem brings a refreshing tech angle into the education discourse. Why can’t Hong Kong follow this example?

Gen Z needs to be given a chance to be heard and feel heard. Members of the tech-savvy generation need leaders they can relate to. They need to feel valued; any stopgap measure only fails to address this generational dissonance.

Newly-inaugurated Education and Culture Minister Nadiem Makarim buttons his suit as he prepares to pose for a photo with other ministers after the swearing-in ceremony of the new cabinet at Merdeka Palace in Jakarta, Indonesia, on October 23, 2019. Photo: AP

Hong Kong needs to develop its human capital. The government should subsidise continuing education with apprenticeships at companies that represent the new economies (such as big tech) or at firms seeking to revamp their aged modus operandi.

Look no further than Shenzhen, which quickly became China’s breeding ground for innovation and technology start-ups. The high-speed railway has made Shenzhen, already a stone’s throw away, even more accessible. Perhaps a Hong Kong-Shenzhen fast pass accompanied by subsidised housing can increase the attractiveness of working in China?

The proposed measures would enable the younger generation to use their skills to contribute to Hong Kong’s development even as they gain a better understanding of Chinese heritage, society and burgeoning digital economy. This is a win-win.

Gen Z has different priorities from preceeding generations. Born in a world beset by global uncertainties, those belonging to this generation have a passion for entrepreneurship and an authentic engagement with like-minded techies in China compared with their older colleagues.

We must focus not on what Hong Kong once was, but on what it is and has the potential to be. Hong Kong must look beyond its role as an outdated professional service hub: entrust the youth with introducing new thinking, encourage them to take risks, work with them as opposed to against them.

This will help them feel that they have vested interest in the future of this city that they call home. If Gen Z are the torch-bearers of Hong Kong’s future, the least we can do is light their way and give them a chance to shine.

Adam Au is a Hong Kong native who is passionate about education, the future of work and the intersection of law, business and technology. A former head of legal at a private equity fund, he holds an economics degree from Brown, a law degree from Oxford and an MBA from MIT

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