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Chairman's Message
Chairman's Message - Hong Kong Has Key Role to Play in the “14th Five-Year” Plan

Mr YUEN Mo (Chairman of the 52nd terms of office) August 2021

 

In the face of a rapidly changing global environment, Hong Kong needs to boost its game by enhancing its competitive advantages and promoting development and progress, while proactively embracing the “14th Five-Year” Plan and integrating into the country’s “dual circulation” strategy.

 

Huang Liuquan, Deputy Director of the Hong Kong and Macao Affairs Office of the State Council, led a high-profile delegation to Hong Kong last month to introduce the “14th Five-Year” Plan. In the face of a rapidly changing global environment, Hong Kong needs to boost its game by enhancing its competitive advantages and promoting development and progress, while proactively embracing the “14th Five-Year” Plan and integrating into the country’s “dual circulation” strategy.

 

Hong Kong’s role clearly defined

Comprising officials from various central government departments, the delegation addressed HKSAR government officials, Members of the Legislative Council, and representatives from different sectors. The visit underscored the great importance attached by the Central Government to the prospect of Hong Kong.

 

The “14th Five-Year” Plan voices out unequivocal support for consolidating and enhancing Hong Kong’s status as an international center for finance, transportation and trade, and perfecting the city’s comparative advantages in areas like international legal and dispute resolution services. Hong Kong is clearly positioned to become an important participant in the country’s domestic circulation and a facilitator of international circulation in the “dual circulation” development strategy.

 

To fulfil its role as a “super-connector”, Hong Kong must bring its strengths into full play in specific key domains. For instance, the vision of the “14th Five-Year” Plan to “enhance” Hong Kong’s status as an international trade center implies the country has higher expectations for the city in this area. With the Mainland poised to become the world’s largest retail market, Hong Kong should shift its export orientation from Europe and America to the Mainland, and assist Hong Kong businesses in seeking breakthroughs in the Mainland consumer market.

 

As a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area), Hong Kong will be able to propel the development of the area and fuel the growth of its own industries at the same time. In the long run, Hong Kong must strengthen infrastructural connectivity and policy compatibility with the Greater Bay Area to foster the development of Hong Kong’s offshore RMB investment and asset management services, and fortify Hong Kong’s status as a global RMB foreign exchange transaction center, while striving for the city to become a major digital RMB cross-border payment platform.

 

Hong Kong should also cooperate with Shenzhen to accelerate the development of the Innovation and Technological Park in the Lok Ma Chau Loop through such means as directly engaging large international enterprises, implementing policies to allow the free movement of I&T talents, and providing more policy and funding support for technological results conversion in the Greater Bay Area, so as to attract I&T resources and talents from across the globe.

 

“Patriots administering Hong Kong” holds the key

The delegation bore an important message: the Central Government perseveres in supporting the comprehensive implementation of “One Country, Two Systems” in Hong Kong to ensure the continuity and effective functioning of Hong Kong’s unique role. Indeed, “One Country, Two Systems” is Hong Kong’s biggest advantage. To ensure its steady and sustained implementation, the principle of “patriots administering Hong Kong” must be upheld unwaveringly.

 

Previously, Xia Baolong, Director of the Hong Kong and Macao Affairs Office of the State Council, pointed out that Hong Kong’s governing team should meet five major requirements – all members must be patriots who are good at fully and accurately implementing the “One Country, Two Systems” policy, solving various contradictions and problems facing Hong Kong’s development, doing practical work for the people, uniting all forces, and performing their duties faithfully. We believe that under the new electoral system, the election committee subsectors which include CGCC members, the new Legislative Council Members, and the new Chief Executive who will be elected next year, will all strictly follow the “patriots administering Hong Kong” principle and take promoting the prosperity of Hong Kong as their responsibility.

 

The “14th Five-Year” Plan is going to create further development opportunities for Hong Kong. Quoting Luo Huining, Director of the Liaison Office of the Central People’s Government in the HKSAR, the biggest opportunity for global development lies in China, and the biggest opportunity for Hong Kong’s development lies in the Mainland. Luo also said that if we don’t advance, we will stay behind, and even slow progress means being left behind. All sectors must therefore work hand in hand, so that Hong Kong can direct its focus at promoting economic development and improving people’s livelihood, and seize the opportunities presented by the “14th Five-Year” Plan by playing to its strengths under the new landscape and “new normal”.