President Xi Jinping’s speech on 1 July to celebrate the 25th anniversary of the establishment of the Hong Kong SAR, as well as the inauguration of the new Government, contained many significant details for the city’s future development.
At a Chamber seminar on 2 September, a panel of expert speakers shared their insights on the core messages of the speech and what they mean for Hong Kong’s future development.
Anthony Wu, Member of the Standing Committee of the CPPCC National Committee, first acknowledged that for non-Mainland people, it may seem strange that there have been so many forums to discuss Xi’s speech. He explained that the nuances of the language meant that it was worth spending some time to study the speech to really understand the message.
He also noted that Xi’s speech in Hong Kong carried importance far beyond the words. Firstly, by physically coming here – his first trip outside the Mainland since the pandemic arrived – he was showing his strong support for the city.
“XI’s visit was also a demonstration of the one-hour Greater Bay Area circle,” Wu added. “He was able to travel in and out of Hong Kong during his two-day visit.”
Xi’s visit to the Science Park and his wife Peng Liyuan’s visit to the Xiqu Centre of the West Kowloon Cultural District also signal that Xi wants to promote Hong Kong’s role as a centre for both I&T and Chinese culture.
In his speech, the first important point Xi made was that One Country, Two Systems had been successfully implemented for 25 years, and there was no need to change this policy.
“This is reassuring for the international community,” Wu said, “as it is the first time such a statement came from the President. So after 2047, the Basic Law and One Country, Two Systems will continue.”
Among the “four musts and four hopes” that Xi listed in his speech (see box), Wu drew attention to the President’s hope that Hong Kong would continue to strive for growth.
“This is reassuring for the new Hong Kong administration,” he said. “It sends the sign that if they want to try something new, they have the support of the Central Government.”
Jeffrey Lam, the Chamber’s LegCo Representative and Member of the CPPCC National Committee, agreed that the President’s emphasis on the success of One Country, Two Systems was extremely important, and clearly showed Hong Kong’s future role. In addition, Lam said, it was significant that Xi had emphasized Hong Kong’s unique position as a financial centre and a global business hub.
“Xi’s speech – while strengthening confidence in the One Country, Two Systems arrangement, also provide direction for Hong Kong’s steady progress in the next five years and beyond,” Lam said. “It has also boosted confidence among Hong Kong people and the international community that this arrangement will continue in the longer term.”
Lam added that the Northern Metropolis development plan will offer tremendous opportunities for Hong Kong start-ups and will also help traditional industries to upgrade.
On the topic of further improving governance, Lam said that he has already seen this in action in the two months since John Lee’s administration had started work.
“The new Chief Executive is not just sitting in an air-conditioned office,” Lam said. “He is really rolling up his sleeves with his team and going out to different districts to speak to local people.”
Lee had already taken action to reduce quarantine and relax other Covid related measures since July, Lam added, and is currently planning overseas trips to promote Hong Kong as a business destination.
Lam suggested that the new Government should look into changing the tax regime and introduce other incentives to help solve the city’s manpower challenges. “We have to have the right policies in place to keep talent and attract new talent,” Lam said.
He added that the Government should also focus on ensuring that teenagers and young people understand the many opportunities in Hong Kong.
Stanley Hui, Member of the CPPCC National Committee, agreed that Xi’s decision to visit Hong Kong, especially at a time when the Covid virus was still circulating in the city, was of great significance. In addition, the President’s comments about Hong Kong’s unique position in the nation’s development were extremely important.
“In China, when a top leader delivers a speech, it is a policy statement, and it will be carried out fully, without fail,” Hui said.
The reassurance that One Country, Two Systems will continue is particularly important to the business community. Wu noted that this helps to solve concern about what will happen to legal contracts and other business matters when 2047 arrives.
Hui drew attention to Xi’s comments on the city’s key role as a centre for finance, trading and transport. “Whatever has helped Hong Kong to perform in the past will continue in the future – that is a very clear message,” he said.
The speech also made clear that Hong Kong will continue to welcome anyone who wants to make their home here, and help to develop the city.
Hui, who is also CEO of Greater Bay Airlines, expressed his confidence that the industry would recover once our borders have fully reopened. He noted that while Hong Kong’s travel restrictions have remained among the strictest in the world, they have been eased in recent months, as part of the global move towards restriction-free travel.
“I’m sure that, after the pandemic, the industry will come back,” he said. “Investors in the company are confident in the long-term future of Hong Kong’s international connectivity.”
Xi’s ‘Four Musts and Four Hopes’ for the Hong Kong Government
Musts
′ Fully implement the principle of One Country, Two Systems
′ Uphold the Central Government’s overall jurisdiction while securing Hong Kong’s high degree of autonomy
′ Ensure that Hong Kong is administered by patriots
′ Maintain Hong Kong’s distinctive status and advantages
Hopes
′ Further improve the city’s governance
′ Continue to create strong impetus for growth
′ Address people’s concerns and difficulties in daily life
′ Work together to safeguard harmony and stability