Hosting large-scale international events is a powerful statement that Hong Kong is back as a global player after three years of pandemic isolation. Now that the city is reclaiming its place on the world stage, the government and business sector must cooperate to form long-term strategies and lift the city’s allure.

The 1,000 ha of reclaimed land earmarked for the project are expected to accommodate a new business district plus some half a million residents. But with most of the space to be taken up by transport infrastructure and communal facilities, the project may be stretching itself too thin.

The club is already Hong Kong’s largest taxpayer and one of Asia’s top donors, with charity contributions outpacing growth during the pandemic. With higher taxes likely to eat into competitiveness and revenue, calls to raise betting duties will do little beyond earning politicians brownie points.

If Hong Kong is to transform into an innovation hub, high value-added manufacturing and new industries will need better transport connectivity. A new rail line that runs the length of the eastern New Territories and links to Hong Kong Island would be a bold statement of intent.

Financial Secretary Paul Chan’s call for Hong Kong to support Beijing’s drive for greater equality is long overdue in a city dominated by property elites.

Maximising the success of the Employment Support Scheme requires all able and eligible employers to sign up and help ensure their continued survival. The city’s largest employers owe it to their employees and the Hong Kong economy to make sure they stay in business in these trying times.

Compared to the US, Britain and Singapore, Hong Kong’s stimulus package is relatively small. The government must do more to protects jobs. Hong Kong faces a deeper downturn than other cities, having already been battered by months of protests.

Donations of money and supplies have rushed in even as managers rally round to make new work arrangements to contain the virus spread. But more is rightly expected of these conglomerates, which could learn from mainland companies’ efforts.

Victor Li, Adam Kwok and Adrian Cheng are among the inheritors of Hong Kong’s biggest property conglomerates, at a time when Hongkongers are demanding greater corporate social responsibility and better living solutions.

Given that grand visions outlined in policy addresses often find their way to the dustbin of history, it will be interesting to see whether the proposal for an East Lantau Metropolis, a 1,000-hectare artificial island in waters between Hong Kong Island and Lantau, will ever become reality.

Initial reactions to the government's long-term housing strategy consultation document have tended to focus on its gaping hole - the availability of land needed to build the proposed 470,000 housing units over the next decade. However, attempts to fill the hole with talk of sacrificing precious country park land opened a can of worms so big that few dared to broach the subject again.