Chief Executive John Lee Ka-chiu met with two Nobel laureates at an economic forum on Tuesday as both scholars spoke positively about Hong Kong's prospects, citing its progress in economic diversification and its growing potential in artificial intelligence (AI).
During the International Forum on China's Economy and Policy 2025, Lee welcomed Joseph E Stiglitz and Michael Spence -- the two Nobel Memorial Prize laureates in Economic Sciences in 2001 -- and exchanged views on a range of topics including AI development and global geopolitical shifts.
The city leader highlighted the opportunities arising from the Northern Metropolis, especially the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, which will focus on life and health sciences, AI, data science, new technologies, and advanced manufacturing.
"Hong Kong has two major areas of immense potential — the Northern Metropolis and artificial intelligence," said Lee. "These areas carry both opportunities and challenges, but they represent capabilities that we must manage wisely and harness to the fullest."
He also added that the government will actively accelerate the development of the Northern Metropolis University Town and promote the "Study in Hong Kong" brand to further develop Hong Kong into an international hub for post-secondary education and high-calibre talent.
Joseph Stiglitz commended Hong Kong's advantages under the common law system, its strong rule of law, and use of English, saying these factors allow the city to serve as a flexible bridge between China and the rest of the world in an uncertain global climate.
"A common law jurisdiction that upholds the rule of law and operates in English can play a vital role as a flexible bridge," he said.
He stressed that Hong Kong's recent efforts to diversify beyond finance mark a positive shift toward a more resilient and balanced economy and praised the city's education system for attracting international talent.
Michael Spence said Hong Kong's status as a global financial hub remains solid while new drivers of growth are emerging.
He said that the city's diversified economy and strong presence of global financial leaders show that it has weathered its most challenging period and is well-positioned for future innovation.
"With the Greater Bay Area opening new possibilities, Hong Kong offers strong potential for AI applications and broader growth," the Nobel Memorial Prize laureate added.
