Hong Kong Chief Executive John Lee Ka-chiu speaks at a reception at the Grand Hall of the Hong Kong Convention and Exhibition Centre in Wan Chai, Hong Kong, in celebration of the 74th anniversary of the founding of the People's Republic of China on Oct 1, 2023. (CALVIN NG / CHINA DAILY)

HONG KONG - The nation’s unswerving support for reform and opening-up, and promoting high-quality development have brought endless opportunities for the special administrative region, said Chief Executive John Lee Ka-chiu.

Lee was speaking at the annual National Day reception marking the 74th anniversary of the founding of the People’s Republic of China, held at the Hong Kong Convention and Exhibition Centre in Wan Chai on Sunday. 

He hailed the resourcefulness of Hongkongers, saying how they had turned crises into opportunities as the financial hub emerged from the pandemic, its economy gradually improving. 

The CE said China's gross domestic product reached 121 trillion yuan last year and it remained committed to opening up and pursuing high-quality development which brought unlimited opportunities to Hong Kong. 

PHOTOS: Hong Kong celebrates National Day

"This year, 2023, is a landmark year of multiple significance," the CE said, pointing out that this year marked the tenth anniversary of the Belt and Road Initiative, the 20th anniversary of the signing of the Mainland and Hong Kong Closer Economic Partnership Arrangement and the 30th anniversary of H share listings in Hong Kong. 

The chief executive called on Hong Kong to actively integrate itself into national development by dovetailing to the 14th Five-Year Plan (2021-2025), the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative to enhance the city’s international competitiveness, develop the economy and improve people’s livelihood

Lee said more than 180 countries and international organizations have signed more than 200 agreements under the BRI so far. Hong Kong, as a pivot of the BRI platform, has made full use of its unique advantages, with the nation’s backing, and achieved mutual benefits in areas like investing and financing in international projects, offshore renminbi and professional services, as well as economic, trade and people-to-people exchanges and cooperation. 

In the past two decades, the value of trade of goods shipped between the SAR and the Chinese mainland has doubled, having surpassed HK$4,600 billion ($589 billion) last year. 

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Closer Economic Partnership Agreement between Hong Kong and the Chinese mainland also reinforced Hong Kong’s attractiveness to overseas investors, with the number of headquarters and regional headquarters set by, and for investors outside the city having gone up by two-thirds in the past 20 years. 

Lee said these figures clearly reflect the opportunities and achievements brought to the city through the nation’s development. "On the way forward, we should continue to leverage, under 'one country, two systems', our distinctive advantages of enjoying the Mainland's strong support...," he said. 

Hong Kong Chief Executive John Lee Ka-chiu (center) speaks at a reception at the Grand Hall of the Hong Kong Convention and Exhibition Centre in Wan Chai, Hong Kong, in celebration of the 74th anniversary of the founding of the People's Republic of China on Oct 1, 2023. (CALVIN NG / CHINA DAILY)

He called on Hong Kong to actively integrate itself into national development by dovetailing to the 14th Five-Year Plan (2021-2025), the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative to enhance the city’s international competitiveness, develop the economy and improve people’s livelihood. 

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He emphasized the SAR has overcome the challenges created by the COVID-19 pandemic in the past year, and the economy is gradually improving. The total sales value of the local retail industry has increased by almost 20 percent in the first eight months of 2023.

Lee called for unity, and collective efforts by residents to contribute to the nation’s modernization, as well as Hong Kong’s stability and prosperity, highlighting the city's resilience in turning challenges into success

In tourism, the number of visitors to Hong Kong has surpassed 23 million in the first nine months of this year, and the latest unemployment rate has dropped to 2.8 percent.

Lee is set to unveil his new Policy Address on Oct 25. He and his team have actively sought public views and suggestions in the past two months, conducting more than 40 consultation sessions and engaging with various districts to gather diverse opinions. 

“These inputs will be comprehensively considered as measures to be formulated to enhance the well-being of the people and boost the economy,” he said.

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Lee called for unity, and collective efforts by residents to contribute to the nation’s modernization, as well as Hong Kong’s stability and prosperity, highlighting the city's resilience in turning challenges into success.

The annual National Day reception was attended by hundreds of dignitaries from various sectors, including officials from the central government, the SAR government, and executive councilors.

Helicopters fly the Chinese national flag and the flag of the Hong Kong Special Administrative Region in celebration of the 74th anniversary of the founding of the People's Republic of China, in Hong Kong, Oct 1, 2023. (CALVIN NG / CHINA DAILY)

Before the reception, a flag-raising ceremony was held at Golden Bauhinia Square in Wan Chai. Members of the disciplined services and Government Flying Service conducted a sea parade and fly-past, while the national and regional flags were hoisted.

Across Hong Kong, flag-raising ceremonies were also held by central government institutions in the city -- the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, the Office for Safeguarding National Security of the Central People’s Government in the Hong Kong Special Administrative Region, and the Commissioner’s Office of the Chinese Foreign Ministry in the Hong Kong Special Administrative Region.

Neighbouring Macao too marked the occasion. The Macao SAR government held a flag-raising ceremony at Lotus Square to celebrate China's 74th anniversary. Officials and representatives from various sectors attended the event, demonstrating Macao's solidarity and shared commitment to commemorate the milestone.