Hong Kong should make more economic contributions to China, says city’s leader
Hong Kong should take advantage of its geographical location and its unique status within China to promote the country’s economic development, and also help extend its economic prowess, said chief executive Carrie Lam.
The Hong Kong leader sang China’s praises at a forum yesterday, as the Chinese Communist Party is set to celebrate its 100-year anniversary next month. She also called on Hong Kong to contribute more to the country’s economic development by advancing China’s various economic strategies.
“I learned in the past year or two that things done correctly and good work should be talked about and mentioned again and again,” said Lam.
She called on Hong Kong to “contribute to the nation” through fostering close ties with the Chinese diaspora communities and to act as the “bridge” between foreign countries and China, as well as promote the Belt and Road Initiative — a massive global infrastructure development plan seen as a centerpiece in China’s economic strategy.
Governed by “one country, two systems” and conveniently located in the southern coastal tip of China, Hong Kong is well disposed to become a participant and enabler of China’s “dual circulation strategy” — a plan prioritizing the Chinese domestic market and internal circulation, while still remaining open to international trade and investment, said Lam.
Hong Kong should use its unique role as a middleman to help China in its goals, and contribute to the building of the homeland, she added.
As China launches its 14th five-year-plan this year, Lam said Hong Kong needed to take advantage of China’s support for the city and raise its international profile as a global financial hub. This includes strengthening international asset management and risk management of off-shore renminbi businesses, as well as improving Hong Kong’s position as an air transport, logistics and commercial hub.
Hong Kong should continue to strive to become Asia’s legal and dispute resolution center, the city’s unpopular leader said.
Lam said Hong Kong continues to adhere to trade multilateralism and will continue to make preparations in order to join the Regional Comprehensive Economic Partnership, a free trade agreement between the Asia-Pacific nations.
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