Opinion

Hong Kong’s struggling port is an opportunity in disguise

Hong Kong has slipped down the ranks of the world’s busiest ports, but the city should take this development as a chance for transformation

Using the land occupied by struggling container terminals for a theme park or fintech hub could help revive the city’s economy and drive collaboration with the Greater Bay Area

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An empty section of the Kwai Tsing Container Terminal on January 3. Hong Kong’s decline in a ranking of the world’s busiest ports has sparked discussion about the future of the city’s shipping industry. Photo: Sam Tsang

Ken Chu (LLD) is the chairman and CEO of Mission Hills Group, with businesses in hospitality, leisure, entertainment, sports, wellness and education in China.

Published: 8:15am, 10 May 2024

Hong Kong has slipped out of the top 10 on a list of the world’s busiest ports compiled by shipping industry data provider Alphaliner. The city’s port now ranks 11th, after Dubai’s Jebel Ali port. This marks a significant departure from Hong Kong’s prominence as the world’s top container port during much of the 1980s and 1990s.

While the decline in container traffic at the Kwai Tsing Container Terminal is striking, the pertinent question for a mature economy like Hong Kong amid these challenges is not whether the downward trajectory is irreversible but rather how to seize the moment and turn it into an opportunity for transformation.

As the city faces headwinds, it is important to realise that crises often serve as catalysts for innovation and adaptation. Replicating past strategies in the hope of outcompeting neighbouring ports within the Greater Bay Area, such as Yantian and Nansha, is no longer a viable approach.