Political situation
Author: Zhai Ruimin
2020-06-08 17:10
Date of last update: 2020-06-08 17:10The government held an online seminar on the thirtieth anniversary of the promulgation of the Basic Law today (8th). Zhang Xiaoming, deputy director of the Hong Kong and Macau Affairs Office of the State Council, explained the central government's enactment of a national security law for the port area. Zhang Xiaoming emphasized that the stronger the bottom line of national security and the greater the space for "one country, two systems", it is foreseeable that after the legislation, the central government's support for Hong Kong in the economic field will definitely increase and spare no effort to consolidate Hong Kong's status as an international financial center.
Zhang Xiaoming revealed that Chief Executive Lin Zhengyue submitted a proposal report on this aspect to the central government last month, which received a positive response from Vice Premier Han Zheng and relevant central authorities.
Zhang Xiaoming revealed that Chief Executive Lin Zhengyue submitted a proposal report on Hong Kong's financial development to the central government last month, and received a positive response from Vice Premier Han Zheng and relevant central authorities. (AP)
Zhang Xiaoming said that from the economic perspective, it can be foreseen that after the promulgation of the National Security Law of the Hong Kong District, Hong Kong society will be restored to stability, the business and investment environment will be further improved, and the central government’s support for Hong Kong will definitely increase, including everyone’s concern and consolidation of Hong Kong. The central government will spare no effort to support the status of an international financial center.
He quoted a person from the Hong Kong financial industry as saying that the ratio of the GDP of several major international financial centers in the world to the total market value of listed companies is basically 1:1. Only Hong Kong is 1:14, describing "the extra 13 dollars is "China's money, the world's money", Hong Kong's capital market is not just Hong Kong's market, but also the Chinese and international markets.
Zhang Xiaoming emphasized that as long as China's economy maintains a good development trend, as long as the central government continues to attach great importance to Hong Kong's special status, it will continue to value Hong Kong's role as a super link between China and the world and its function as a converter. When the international economic environment is difficult, we continue to support Hong Kong. What other reason is there to worry about Hong Kong’s status as an international financial center?"
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