Chief Executive John Lee Ka-chiu on Wednesday began a four-day annual duty visit to Beijing, during which he is expected to request additional measures to revitalize Hong Kong’s economy and enhance its role as a bridge for China’s high-level opening-up, according to experts.
These requests may include easing restrictions on Chinese mainland residents traveling to and spending in Hong Kong and increasing mainland market access for local companies, they said.
Lee’s trip follows reinstatement of the multiple-entry Individual Visit Scheme for Shenzhen residents this month.
First introduced in Shenzhen from 2009 to 2015, the program was later suspended to control visitor numbers. The reinstatement allows Shenzhen residents an unlimited number of visits to Hong Kong, although each stay is capped at one week.
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Simon Wong Ka-wo, president of the Hong Kong Federation of Restaurants and Related Trades, said he expects the visit to pave the way for further easing of travel restrictions in more mainland cities, such as those within the Guangdong-Hong Kong-Macao Greater Bay Area, to benefit Hong Kong’s economy.
“The greater tourist traffic and longer stays made possible by these policies will benefit Hong Kong’s restaurants, hotels, and retailers,” he said.
According to figures released by the Hong Kong Special Administrative Region government last month, private consumption expenditures continued to decline, even as real GDP grew 1.8 percent year-on-year in the third quarter, following a 3.2 percent increase in the previous quarter.
To boost local spending, Lee is relying on tourism for a breakthrough.
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His initiatives include a packed schedule of mega-events planned for the first half of 2025 and the well-publicized debut on Sunday of two pandas gifted by the central government to commemorate the 27th anniversary of the city’s return to the motherland.
Recently, he also appointed a new secretary for culture, sports, and tourism.
Freer flow of goods, capital and talent is expected to feature during Lee’s meeting with Beijing officials.
Wong also urged talks during the visit on relaxing restrictions in the Closer Economic Partnership Arrangement, a free trade agreement between the mainland and Hong Kong, to enhance access for local and imported products.
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He also called on the central government for assistance in supplying much-needed talent to Hong Kong.
Zhu Chenge, assistant research fellow at the Chinese Academy of Social Sciences in Beijing, said Lee is likely to use his stay in Beijing to seek greater support from the central government to enhance Hong Kong’s role in China’s high-level opening-up strategy.
The city has transitioned from chaos to stability and is on the path to greater prosperity over the past few years, and has become “increasingly resilient against external interference,” he said.
Zhu said a stable Hong Kong, with its “one country, two systems” policy, will continue to serve as China’s window to the world in the new era and help foster a favorable external environment amid trade uncertainties and geopolitical challenges.
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Some local commentators said that positive developments in the Northern Metropolis project — a plan to create a new urban area in the New Territories partly to ease housing pressure — have lifted the spirits of Lee’s delegation.
On an encouraging note, 85 companies have expressed interest in participating in the government’s ambitious initiative.
