Political and business leaders in Hong Kong have called for the city to closely align its policies with the nation’s latest development needs and accelerate reforms in key sectors with unique advantages, notably in innovation and finance.
The response follows a proposal adopted by the third plenary session of the 20th Central Committee of the Communist Party of China to comprehensively deepen reform and advance Chinese-style modernization.
Three seminars to discuss the proposal were held in the special administrative region on Sunday and Monday, attended by senior central government officials.
Legislator Starry Lee Wai-king, who’s also a Hong Kong member of the Standing Committee of the National People’s Congress, said the seminars not only conveyed the spirit of the third plenum, but also provided clear directions for the SAR’s future development.
She said the seminars have made her realize that the country’s directives for reform are focused not only on economic growth, but are also aimed at enhancing governance capabilities and service standards to adapt to global and digital trends. It’s crucial for all sectors to align policies closely with the spirit of the plenum to ensure the effective implementation of reform measures in Hong Kong, she said.
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Tan Yueheng, a Hong Kong member of the National Committee of the Chinese People’s Political Consultative Conference, believes the seminars have offered valuable insights for various sectors and inspired the SAR government in formulating policies.
He noted that with a rapidly aging population, Hong Kong needs to proactively tackle problems like care for the elderly, social welfare and economic policies to create an elderly-friendly society, strengthen the well-being of senior residents, and stimulate the silver economy.
Tan said Hong Kong has to firmly integrate itself into national development while maintaining its international advantages, and uncovering and boosting new competitiveness in the financial sector to enhance the city’s status as an international financial hub.
Hendrick Sin, a Hong Kong deputy to the National People’s Congress, believes that as a vital bridge connecting domestic and international spheres, Hong Kong should lead in technological innovation, particularly by accelerating the establishment of an innovative ecosystem, attracting top global research talents and innovative enterprises to contribute significantly to the nation.
Wingco Lo Kam-wing, president of the Chinese Manufacturers’ Association of Hong Kong, stressed that Hong Kong’s business sector should further accelerate the implementation of various reform measures, especially in areas where the city has unique advantages and special missions like deepening international connections, and accelerating green low-carbon development.
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He said achieving these goals requires the entire society, including the business sector, to innovate on the “supply side”, strengthen competitiveness, and make new contributions to advancing China’s modernization.
To achieve this objective, he said the association will fully support the business community in enhancing technological transformation efficiency, brand building, ESG (environmental, social and governance) development, and playing a more significant role in the high-quality development journey of Hong Kong and the nation.
