Group 1: Paradigm Shift and Global Positioning - Hong Kong is at a critical point of "paradigm shift," needing to actively engage with global opportunities and challenges [1] - The Financial Services Development Council (FSDC) aims to lead in capital connectivity, green transformation, and digital revolution, providing an indispensable "super value layer" to the global financial system [1] Group 2: Expansion into Emerging Markets - Hong Kong will launch the world's largest Gulf market ETF in October 2024, with the first ETF investing in Chinese Hong Kong stocks listed on the Saudi exchange raising over 10 billion HKD [2] - The China Securities Regulatory Commission has introduced measures to support Hong Kong's capital market, expanding the range of eligible products for "ETF Connect" and reducing the minimum shareholding requirement for Hong Kong-listed stocks [2] - New leveraged and inverse products tracking Samsung Electronics were launched, allowing investors to capture short-term volatility in the Korean market [2] Group 3: Green and Hybrid Finance - Hong Kong has over a thousand family offices, making it the most densely populated network globally, driving demand for hybrid finance and impact investing [3] - The city is actively developing an "overseas carbon credit hub" backed by the booming carbon market in mainland China [3] Group 4: Digital Asset Development - The Hong Kong government is committed to becoming a global innovation center for digital assets, with a regulatory framework for stablecoins set to launch on August 1 [4] - The FSDC emphasizes that stablecoins should not be treated as short-term speculative assets, highlighting the importance of a long-term perspective in digital asset markets [4] Group 5: Offshore Asset Center and Economic Resilience - Hong Kong can leverage the weakening US dollar to enhance its risk management functions for RMB and other currencies, attracting global capital [5] - Despite short-term pressures on sectors like dining and retail, Hong Kong's diverse economic structure, led by finance, continues to show growth in IPOs, insurance, banking, and asset management [5]

Historical Logic: Evolution of Technology Centers - The rise of global powers has historically been closely linked to technological revolutions [2][6] - The transfer of global scientific centers has occurred approximately every 80 years, following a pattern from Italy to the US [5] - Technological innovation is a precursor to economic, political, cultural, and military centers, marking the first step in a nation's rise [7] Economic Logic: Leap in Economic Paradigms - Technological revolutions do not automatically lead to industrial revolutions; a significant leap is required for transformation [9] - General Purpose Technologies (GPT) are crucial for achieving economic paradigm shifts and transitioning from technological to industrial revolutions [10][11] - GPTs are characterized by universal applicability, complementary innovations, and technological dynamism, playing a vital role in national economic ascendance [12] Political Logic: Rise of Great Powers - Economic and technological advancements lead to the concentration of international power, facilitating the rise of great powers [14] - The emergence of new paradigms can shift global power centers, driven by the adoption of GPTs [16] - Infrastructure development is essential for nations to seize opportunities presented by technological changes [18] Era Logic: International Competition in AI - The current global landscape features multiple technology and economic centers, leading to complex competitive dynamics [28] - The fourth industrial revolution is occurring within a fragmented international economic system, affecting trade and economic strategies [32] - The transition from platform economy to intelligent economy highlights the need for nations to adapt and seize AI opportunities [33] AI International Competition - The integration of new technologies is reshaping traditional production models and fostering new economic ecosystems [35] - The collaboration between industries and technology systems is becoming a key factor in economic competition [35] - Industries are increasingly becoming the main drivers of technological innovation, surpassing academic contributions in fields like artificial intelligence [35]