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One Country, Two Systems remains a booster for Hong Kong's development
Experts hail the achievements that the policy of One Country, Two Systems brings to the Hong Kong SAR, and express their hope that Hong Kong will contribute more to the development of the country
By Tao Xing  ·  2022-06-22  ·   Source: Web Exclusive

 

Aerial photo taken on May 29 shows a view of the International Commerce Centre in south China's Hong Kong (XINHUA)  

In recent separate interviews with Beijing Review, experts from both the Hong Kong Special Administrative Region (SAR) and the mainland hailed the achievements that the policy of One Country, Two Systems brings to the region, and expressed their hope that Hong Kong will contribute more to the development of the country.  

Chow Pak-chin, President of think tank Wisdom Hong Kong, said, "One Country, Two Systems is a great idea, which endows Hong Kong with unique advantages." The SAR is the most open and international city among the hundreds of cities across China, and its judicial system is widely recognized by the international business community, Chow pointed out.  

Tian Feilong, an associate professor at Beihang University's School of Law in Beijing, and director of the Chinese Association of Hong Kong and Macao Studies, said, "The 25-year implementation of the policy in Hong Kong has proved successful. It is essential to long-term prosperity and stability in the SAR."  

According to the World Competitiveness Yearbook 2022, published by the International Institute for Management Development, Hong Kong SAR was ranked fifth globally. In 2021, the GDP of Hong Kong was HK$2.86 trillion ($364.3 billion) compared to the HK$1.37 trillion ($174.5 billion) in 1997. Its per-capita GDP reached HK$387,100 ($49,316) last year. The foreign exchange reserves of Hong Kong grew from some $80 billion in July 1997 to more than $460 billion in May 2022, a large increase relative to the size of the economy and its monetary supply. 

"To ensure that One Country, Two Systems will make steady progress, and to further the development of democracy in Hong Kong, We must remain committed to the principle that Hong Kong is governed by Hong Kong patriots," read a white paper released by the State Council Information Office of China on December 20, 2021. In response to the 2019 turmoil and the chaos in the election for district councils in the same year, the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region, taking effect in June 2020, has been instrumental in quickly quelling riots and restoring order in Hong Kong. 

"Hong Kong has ushered in a new stage of development," Tian said.  

The experts both mentioned that integrating into the overall national development will bring Hong Kong economic benefits and enhance its residents’ sense of national identity.   

In recent years, the development of Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has helped Hong Kong integrate itself more deeply into the overall development of the country and contribute to national modernization."During the process, Hong Kong can reposition its role in the national economic system, as well as in the globalized world economy," Tian said. 

"Young adults in Hong Kong should take the opportunity to pursue their development in the GBA and beyond into the wider mainland," Chow noted. 

Copyedited by G.P. Wilson  

Comments to taoxing@cicgamericas.com 

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