After several turbulent years, what does Hong Kong’s future look like? Former Chief Executive of the Hong Kong Special Administrative Region Carrie Lam, who has personally experienced the chaos and recovery of the region, shares her views about Hong Kong’s future in the latest episode of China Talk.
https://www.youtube.com/watch?v=Y2-zM_5hCgs
“‘One Country, Two Systems’ is a pioneering concept that has no precedent to follow. Its application entails an evolving process especially when the world is changing fast,” Lam said. In his report on behalf of the 19th Central Committee of the Communist Party of China (CPC) to the Party Congress in 2022, General Secretary Xi Jinping highlighted the restoration of order and stability in Hong Kong amidst several years of chaos. National Security Law for Hong Kong was enacted in June 2020 and followed by improvements to the electoral system in 2021 ensuring that Hong Kong is administered by patriots.
The future, according to Lam, will have many opportunities awaiting Hong Kong. With pursuing high-quality development being a priority for China in the coming years, Hong Kong’s unique position in the world would facilitate the national development. “A high-quality economy requires a high-quality capital market,” Lam said, “As a pre-eminent international financial center with rich liquidity, diverse products and robust regulation, Hong Kong will continue to serve as high quality and reliable capital market for the mainland.”
And Hong Kong has been invested in the science and education development. Lam pointed out that Hong Kong’s strengths in innovation and technology have been boosted under an eight-pronged strategy to build infrastructure, enhance basic research, foster international cooperation, attract overseas talents and etc.
Lam said that Hong Kong’s well-established and internationally-recognized legal services could also be useful. Two landmark developments would prove it: The opening of the Asian-African Legal Consultative Organization Hong Kong Regional Arbitration Center in May and the establishment of the International Organization for Mediation Preparatory Office in Hong Kong signed between the Ministry for Foreign Affairs and the HKSAR government in October.
“Looking back, few would dispute that the fifth term HKSAR Government which I led had experienced the most challenging years since the reunification,” Lam remarked, adding that she was inspired that “One Country, Two Systems” must be upheld as the fundamental guide.
