HK must become more international
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As China's world city, Hong Kong needs to become even more international in order to contribute to the increasingly globalized Chinese economy.
In the 14 years since the handover took place, Hong Kong has increasingly - albeit at times reluctantly - integrated with the mainland economy, in particular the regional economy of the Pearl River Delta region. It has provided Hong Kong with good enough mainland connections that could easily be turned into a form of social capital that would enhance the advantages and returns of the city's international ventures.
Overseas entities are more attracted to Hong Kong than mainland cities for two reasons in particular. The first is the mainland connections Hong Kong has. The second is the institutional setup of Hong Kong that is closer to an Anglo-Saxon system than to the mainland policy regime.
In other words, that which makes Hong Kong most attractive to overseas entities that wish to engage in any kind of relations with the Chinese mainland is that the city is both an insider and an outsider - an identity and role that no mainland cities can emulate. It is enshrined and further reinforced by the Basic Law in the form of "One Country, Two Systems".
However, in the post-financial crisis era, internationalization should not mean the traditional focus on advanced countries. For one thing, the relationships of Hong Kong with most advanced countries are more intimate than any other cities on the mainland. This is especially true of the city's common law legal system, which ties it closely with the common law systems of the British Commonwealth, which includes a great number of countries.
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