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Hong Kong Trade Development Council chairman Frederick Ma Si-hang has urged young people not to rush into buying property or pursuing material possessions, saying financial rewards will come with hard work and perseverance.
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Speaking at an orientation event at Saint Francis University on Tuesday, Ma recalled the difficulties he faced early in his career when he was posted to New York by a bank while still in his twenties.
Unfamiliar with areas of work including foreign exchange trading and struggling to adapt to a new environment, Ma said the pressure at one point reduced him to tears behind closed doors.
He responded by spending weekends studying documents, looking up unfamiliar terms and working to improve his knowledge. After about a year and a half in New York, he was promoted and gained greater confidence in handling challenges.
Ma likened overcoming the first major setback in a career to “climbing the first mountain,” saying subsequent challenges would become easier to navigate once young people had built confidence and resilience.
Turning to the difficulties young people face in Hong Kong’s property market, Ma and Saint Francis University president Stephen Cheung Yan-leung both advised students not to be overly anxious about home ownership.
Ma said he did not buy his first home until he was 40, while Cheung said he only became a homeowner in his 60s.
Ma encouraged students to focus instead on doing their jobs well and building their careers, rather than worrying too early about buying homes, cars or other material possessions.
He also pointed to the rapid development of mainland China, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, and encouraged young people to look beyond Hong Kong when considering career opportunities.
For those interested in entrepreneurship, Ma advised gaining experience in the corporate world first to build up both capital and practical knowledge before starting a business.
Separately, Ma said the HKTDC, as a core member of the government’s GoGlobal Task Force, had recently received numerous inquiries from mainland enterprises seeking advice on expanding into overseas markets through Hong Kong.
He expressed confidence that more mainland companies would use the city as a platform for international expansion.
Ma also noted that the Belt and Road Summit will be held in Hong Kong next week, bringing together senior government officials and business leaders from different markets.
