Looking back at China’s advancements on the 75th anniversary of its founding, the country’s rise to a global heavyweight is nothing short of remarkable.
Rapid industrialization and modernization have propelled China to become the world’s second-largest economy, thanks to the successful implementation of economic reforms and opening-up policies. The country has made significant strides in technology and innovation, emerging as a global leader in 5G technology, artificial intelligence, e-commerce and renewable energy.
Its ambitious space programme, including successful missions to the Moon and Mars, has garnered international acclaim. The Central Government has also invested heavily in infrastructure development, transforming the country with high-speed rail networks that boost connectivity as well as iconic landmarks like the Three Gorges Dam.
The 14th Five-Year Plan, a comprehensive blueprint for China’s development, outlines key strategies for the future, with education as a cornerstone. This includes enhancing higher education, fuelling innovation and research, and embracing technology – part of a greater plan to create a fairer, innovative and adaptable education system that acts as a foundation for the nation’s broader economic and social goals.
On the occasion of the nation’s 75th anniversary, it is essential to understand the unique relationship between China and Hong Kong. Operating under the “One Country, Two Systems” framework, Hong Kong has not only preserved its distinct identity but also thrived as a global financial, trading and transportation hub.
One of the key roles Hong Kong plays is as a gateway for international companies to tap into the vast Chinese market. This underscores the strategic significance of the city and the support it receives from President Xi Jinping.
Throughout its rich history, Hong Kong has been a pivotal player in fostering trade, finance and cultural exchange between China and the world. Economically, Hong Kong has reaped significant benefits from the Mainland’s rapid development, which has opened up a plethora of opportunities for Hong Kong businesses to thrive and expand in the vast Chinese market.
As the Belt and Road Initiative (BRI) enters its second decade, the potential for Hong Kong to become a key financial and logistical hub that facilitates its growth is a reason for optimism. The city’s trade with Belt and Road countries and regions has been on a steady rise and, as the BRI continues to expand, Hong Kong’s potential as a pivotal hub is a promising prospect.
As an international financial centre, our city is crucial in supporting China’s economic development and global ambitions. By fostering innovation and strengthening global connections, Hong Kong can play a defining role in our nation’s ongoing transformation.
Agnes Chan
chairman@chamber.org.hk