According to Leung, the total Hong Kong trade in services amounted to $180 billion in 2019, or about 49 percent of the city's GDP.

The RCEP, comprising the 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand, will be the world's largest free trade agreement that accounts for 30 percent of the world population, one-third of the global GDP, and nearly one-third of global trade. It will come into force on Jan 1.

'When the boundary check-up points are reopened, albeit partially, Hong Kong has to execute a catch-up plan. We should launch a global publicity campaign to tell our RCEP partners that Hong Kong the super-connector is back in business, and that Hong Kong has a unique role in the GBA," Leung highlighted.