Dear friends,
Hong Kong: A New Era - Stability, Prosperity and Opportunity
Last Friday (1 July 2022) marked the 25th Anniversary of the Establishment of the Hong Kong Special Administrative Region (HKSAR) after our return to the motherland in 1997, as well as the commencement of the Sixth-term HKSAR Government sworn in by President Xi Jinping.
As we are marking this momentous milestone, I would like to take the opportunity to recapitulate the spirit of Hong Kong’s achievements throughout the journey and highlight to you the bright prospects ahead.
Over the past quarter century, the “One Country, Two Systems” principle has proved itself to be Hong Kong’s institutional safeguard and cornerstone of maintaining long-term prosperity and stability. This comes in two aspects – thriving as a Special Administrative Region as part of our country by integrating into overall national development and serving as an internationally-connected gateway to the world, while consolidating our unique and longstanding advantages with the concerted efforts of all sectors of the community.
The progress and achievements are loud and clear. Despite ups and downs, we remain a highly sought-after metropolitan in many senses, including recognitions as the world’s freest economy, a top global financial centre and one of the most competitive economies; solid status as the world’s largest offshore Renminbi hub and busiest port in terms of air cargo throughput; as well as home to five of the world’s top 100 universities. The list goes on.
The rule of law is the cornerstone and core value of Hong Kong's success. The Basic Law protects the rights and freedoms of residents and businesses, and ensures an independent judiciary and the right of final adjudication. These are exactly what it takes to excel as a highly market-oriented and internationalised economy. Indeed, Hong Kong has been enjoying such reputation as one of the world’s top 20 jurisdictions in terms of the rule of law.
The next five years will be a crucial time for Hong Kong to advance to further prosperity, with safety and order restored under the National Security Law and the improved electoral system. With the staunch support of the Central People’s Government, Hong Kong is entering a new era of opportunities with better integration into national development. Particularly, the National 14th Five-Year Plan (the Plan) and the Guangdong-Hong Kong-Macao Greater Bay Area will herald huge opportunities for both local and overseas people and businesses in Hong Kong. At the same time, our city is known for hosting major arts, cultural and sports events, such as Art Basel Hong Kong, Hong Kong Arts Festival, Art Central, Hong Kong Arts Festival, Hong Kong International Film Festival, French May Arts Festival, Asia Cultural Co-operation Forum, Hong Kong Marathon and Hong Kong Sevens (rugby). The magnificent Hong Kong Palace Museum, featuring precious artefacts from the Palace Museum in Beijing, and M+, Asia’s first global museum of contemporary visual culture, are the latest grand additions to the West Kowloon Cultural District – the emerging centerpiece of our city’s arts and cultural development.
In his inaugural speech, our Chief Executive, Mr John Lee, stated clearly that the new-term Government will seek to enhance Hong Kong’s competitiveness and further develop the economy, both by strengthening our established sectors as an international financial, transportation and trading centre, as well as developing a range of emerging industries under the Plan, such as innovation and technology and arts and culture.
We are very much enthralled by the potential economic advancement being brought about by all the relevant initiatives. Hong Kong would certainly love to share the mutual benefits with the ASEAN – one of our closest economic partners. It is our common goal to take as much significant part together in such pursuit as possible. In fact, Hong Kong and the ASEAN have been enjoying longstanding business and cultural ties with ever-closer people-to-people connection. The region has been our second largest trading partner for over a decade. It is especially encouraging to see that both places have been growing more interconnected than ever before.
Both the ASEAN and Hong Kong are characterised by our connectedness, openness and inclusiveness – traits that are leading us to more faceted partnership to help realise our development potentials to a much greater extent. This region of ours will be one of the world’s key engines of economic growth in many years to come. There is no doubt that the ASEAN and Hong Kong will together play a significant role in such a new economic paradigm.
A friendly cosmopolitan city, Hong Kong offers endless opportunities for all walks of life, from skilled professionals and academics to entrepreneurs and trendsetters, to work, invest, study and enjoy a high quality of life. Our doors are always open to our friends and partners here in the ASEAN.
Thank you once again for your support to, and trust in, Hong Kong all along. May we, moving forward, excel together in our common endeavours.
Sincerely,
Law Kin-wai
Director-General
Hong Kong Economic and Trade Office
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