But even though women are freer, more educated, and enjoy more legal protection than they did just 20 years ago, "success" is still a long shot.

In 1997, Hong Kong signed the UN Convention for the Elimination of Discrimination Against Women, which calls for 50 percent female representation in leadership positions in governments, political parties, trade unions and other groups. Despite this, startling gender inequalities are woven into Hong Kong's socio-economic fabric - creating a huge barrier to female success.

Various research points to a clear gender gap vis-a-vis leadership positions, especially political leadership.

"People generally think there is equality," says former legislator Mandy Tam Heung-man. "But, in fact, the inequality is subtle, because now women have higher educations, and there are more female professionals. Even in the government's senior posts, there are more women, but if you look closely at the government's structure, only two to three females are officials."

In corporate life, with lower salaries and fewer promotion opportunities than men, women do not share an equal voice in decision-making - a huge cause for concern in a society where women comprise 54 percent of university graduates, and 47 percent of the workforce.

"If a country like Norway, with a population of just 4.6 million people, can find 1,000 women directors in a short space of time, surely Hong Kong should have no trouble filling its boards with suitably qualified women," says Su-Mei Thompson, executive director of the Women's Foundation.

The marginalization of women here is rooted deep in structural and cultural biases. Research by the Women's Commission shows women's contributions are confined to the family setting, and their contributions to other areas of society understated.

Alarmingly, Hong Kong women don't necessarily see discrimination as a social ill, but rather blame themselves for the limitations placed upon their aspirations and accomplishments.

"Under the long-term influence of traditional values, women themselves might also endorse some of these gender stereotypes," says Sophia Kao Ching- chi, head of the Women's Commission.

It throws light then on why even today, girls are steered toward studying the arts and humanities, while boys are encouraged to focus on science, engineering and technology. And why within companies, men are exposed to operational roles - giving them an advantage when it comes to selection for senior management positions - while women cluster in more narrow, functional roles.

Alas, a gender gap in leadership is only where the problems begin. Gender inequalities burgeon a variety of other, serious human rights issues that beg government attention in Hong Kong.

The feminization of poverty has emerged as a major concern. Economic restructuring post-1997 forced women into lower-status and lower-paid jobs, increasing their overall likelihood of falling into the poverty trap. The number of females living in poverty increased from 485,000 in 1996 to 643,000 in 2005.

Incidents of domestic violence and sexual abuse are also on the rise. A University of Hong Kong survey found that one in five families has experienced some form of domestic violence. Female sexual abuse stories are widespread, particularly among the immigrant community. Even so, there is a shortage of human rights lawyers stepping up to represent those who have been exploited. Women's advocates are proposing that the Domestic Violence Ordinance be strengthened.

What then is the way forward for women in this vibrant economy? Indeed, it's about time the government woke up to smell the coffee. Without a gender perspective, government policies and services will continue to be fragmented and discriminatory against women.

Reenita Malhotra Hora is a freelance journalist at www.reenita.com