Xia Baolong (front row, center), director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, meets with representatives of the financial sector in Hong Kong at the government headquarters in Admiralty on Feb 26, 2024. (ANDY CHONG / CHINA DAILY)
Xia Baolong, the nation’s top official on Hong Kong and Macao affairs, on Monday expressed the central government’s emphasis on Hong Kong’s international standing and its full confidence in the city’s future, during a meeting with about 40 business leaders of local and foreign chambers of commerce.
Xia, director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, made the remarks on the fifth day of his high-profile inspection tour of Hong Kong with a fact-finding team.
Hong Kong Chief Executive John Lee Ka-chiu, who attended the meeting at the government headquarters alongside Xia, said that Xia highly values the city’s international status and the opinions of foreign chambers of commerce.
The meeting followed a three-hour session with leaders of the financial sector, during which Xia encouraged them to share positive Hong Kong stories based on their professional experience.
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During that meeting, various topics were discussed, including economic development, attracting foreign investment, and the city’s integration into the Guangdong–Hong Kong–Macao Greater Bay Area, and closer ties with the Chinese mainland market.
Lee highlighted Hong Kong’s leading position in fields such as finance, commerce, and shipping, and its advantage of having strong backing from the nation while maintaining global connectivity.
With steadfast support from the central government for Hong Kong and confidence in the city’s development prospects, Hong Kong will uphold its status as an international city, he said.
Hong Kong has been recognized as having the world’s best investment environment, ranking first in the Asia-Pacific region and second globally for enterprise conditions.
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Last year, Hong Kong saw 27 percent growth in the number of overseas and mainland enterprises setting up business in the city via government branch InvestHK, with significant growth from the United Kingdom (40 percent) and Singapore (35 percent). These enterprises collectively invested over HK$61.6 billion ($7.87 billion), three times the amount of a year earlier.
“These figures have fully demonstrated the confidence of local and foreign enterprises in Hong Kong,” Lee said.
Biz confidence voiced
Gan Khai Choon, chairman of the Malaysian Chamber of Commerce Hong Kong and Macao and an attendee of the business-themed meeting with Xia, said he understands the need for the legislation of Article 23 of the Basic Law, pointing out that Malaysia and Singapore implemented national security laws a long time ago.
He recalled the serious impact on Malaysia’s tourism business during Hong Kong’s social unrest in 2019. However, he said that Malaysian tourists and business people have confidence in the city, and will visit Hong Kong again and stay in the city.
He said he will personally lead visiting delegations to the mainland three to four times this year and looks forward to further cooperation with Hong Kong and the mainland.
Wilhelm Brauner, chairman of the Austrian Chamber of Commerce Hong Kong and Macao, also expressed high expectations for doing business in Hong Kong after the meeting with Xia.
Brauner said he is looking forward to more policies that will facilitate the expansion of business and investment in Hong Kong and into the other GBA cities.
Betty Yuen So Siu-mai, chairman of the Hong Kong General Chamber of Commerce, said that the exchange between the representatives and the fact-finding team was sincere.
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She said that Xia reassured the business sector that any investments or assets made in the city will be fully protected, and that the central government will provide favorable policies to support the city’s development.
The meeting also emphasized the effectiveness of the “one country, two systems” principle, with no need for any changes, she said.
Discussions also focused on transforming Hong Kong’s economy, with an emphasis on strengthening its competitiveness and leveraging its status as a superconnector as well as an international financial center, trading hub, and tourist destination.
Patriotic efforts praised
Also on Monday, Xia met with representatives of local patriotic organizations, praising them as the backbone of the patriotic forces, according to Alice Mak Mei-kuen, secretary for home and youth affairs.
Xia called for the expansion of patriotic forces to better unite residents and support the government in developing the economy and improving people’s livelihoods, she said.
Irons Sze Wing-wai, deputy secretary-general of the Hong Kong Coalition, cofounded by 1,500 social dignitaries from all sectors of society, said that Xia asked local groups to be more united and to support the government and the chief executive.
After Xia said that more good news is on the way, Sze said he hopes that more mainland cities, following the recent addition of Qingdao in Shandong province and Xi’an in Shaanxi province, will be included in the individual travel program, allowing mainland visitors to visit Hong Kong and Macao individually.
Xia’s seven-day inspection tour of Hong Kong, his second in the past year, began on Thursday and will conclude on Wednesday. He has met with government officials, lawmakers, district councilors, legal professionals, as well as grassroots members of the community.
