It was truly an honour to lead HKGCC’s delegation to Beijing last month, where we received a warm welcome from Central Government officials.
During our many meetings over the two-day mission, it became extremely clear that the Mainland is strongly supportive of the high-quality development, prosperity and long-term growth of Hong Kong. Great appreciation was also shown for the Chamber and our business community, whose contributions to Hong Kong and the country have not slowed down despite the lean pandemic years, talent shortage and current global economic uncertainty.
As an international financial hub enjoying the unwavering backing of the Mainland, Hong Kong is renowned for its top-tier professional services in finance, law, logistics and talent, as well as an independent judiciary and a bilingual common law system. This has helped to forge the strong global connections through which the city has flourished. Under “one country, two systems,” Hong Kong can continue to highlight its unique advantages while serving as a gateway between the Mainland and the world.
At the same time, Hong Kong must continue to strive for integration into overall national development. I believe that the city is already on track to achieve this goal through active collaboration in the development of the Greater Bay Area (GBA) as well as strengthening ties with Belt & Road countries through professional services and cultural exchanges.
In its role as a super-connector to the Mainland and the GBA, and as a key city for the Belt & Road Initiative, Hong Kong is integral to the framework for regional economic cooperation.
In fact, at the Eighth Belt & Road Summit in Hong Kong in September, the Chief Executive vowed to continue promoting Hong Kong to more B&R nations and regions that want to establish links with Hong Kong and the Mainland. He also stressed at the Joint Business Community Luncheon organized by the Chamber last month that he wants to open doors and set the stage for local and overseas firms to connect and grow. He joked that his Policy Address was so long because he received so many good proposals from the business community to boost the economy.
China is on track to reach its annual growth target of 5%. In the pursuit of high-quality development, Mainland authorities are focusing on facilitating global industrial supply chains for the better flow of capital and technology. During our exchanges in Beijing, we also discussed the necessity of developing green trade and low-carbon technologies, which are important for sustainable growth. To that end, the Central Government is easing market access for foreign investors in green development, alongside important sectors such as manufacturing and the digital economy.
All these multi-pronged development plans in the Mainland will create a host of favourable prospects. The Hong Kong business community would do well to seize and build on these opportunities as we work towards a better future for our city and the nation.
Betty Yuen
chairman@chamber.org.hk