What Happened
City Seeks To Leverage Financial Strengths In Emerging Market
Hong Kong is poised to carve out a niche in the global space economy, leveraging its strengths in international financial markets, professional services, and its unique position in connecting the mainland with global markets. The city’s role may focus on providing financing, insurance, legal services, and data compliance for space enterprises, rather than launch sites or manufacturing. According to the World Economic Forum, the global space economy is expected to grow from $630 billion in 2023 to $1.8 trillion by 2035, with ground-based solutions already accounting for about 55 percent of the market. This development was reported by China Daily.