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The term “space economy” may sound like science fiction to many in Hong Kong – a distant concept reserved for global superpowers. Yet, as the United States prepares for its first crewed lunar mission in over 50 years with Artemis II, the message is clear: space is the next arena for global competition, innovation, and economic growth. And it is far closer to our daily lives than we think.
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The data frontier: why space matters to everyone
A poignant insight from the Chief Executive’s Policy Unit states: “Whoever controls data controls space.” This could not be more accurate. The narrative that space is merely a future escape plan for humanity is outdated. Today, space-derived data and materials directly influence climate monitoring, agricultural planning, global communications, and even medical advances. The quality of our environment, the security of our food supply, and the resilience of our infrastructure are increasingly tied to assets in orbit and beyond. Space is not remote; it is embedded in the fabric of modern life.
Hong Kong’s overlooked legacy in space
Hong Kong’s capability in this domain should not be underestimated. Decades ago, tools like the “space pliers” designed in Hong Kong were utilized by NASA aboard the Mir space station – proof that the city’s ingenuity has already left its mark in space history. Today, this legacy continues. Local universities are actively engaged in aerospace research, and secondary schools are introducing space-related curricula, planting seeds for a future generation of scientists, engineers, and visionaries.
Building a talent pipeline: more than just science
Cultivating talent is not just a scientific imperative but an economic one. As the space economy expands – valued to be worth US$1.8 trillion (HK$14.04 trillion) by 2035 globally by the World Economic Forum – there will be a growing need for professionals who can navigate its unique financial landscape. Hong Kong’s strengths in finance and legal services can be pivotal in structuring investments, securitizing space assets, and conducting due diligence for off-world ventures. The city’s first astronaut is a milestone, but it should be a starting point. We must prepare more specialists who can bridge the gap between technology and finance.
From aircraft to spacecraft: a sustainable future
Sustainability on Earth and in space will define the next era. Hong Kong’s recent engagement with Elior Group for aircraft dismantling presents a unique opportunity. This expertise in recycling and repurposing complex vehicles can be strategically extended to spacecraft and satellite recycling – a critical service as low-Earth orbit becomes more crowded. By positioning itself as a hub for sustainable space logistics, Hong Kong can address both environmental and economic objectives.
Seizing the moment
The launch of Artemis II is more than a historical echo; it is a signal flare for the new space age. Hong Kong has the foundation, talent, and innovative spirit to participate meaningfully in this expansion, with the backing of China. By embracing its historical contributions, investing in education, leveraging its financial expertise and pioneering sustainable practices, Hong Kong can secure a role in the space economy. The future is not just above us – it is within our reach.
