Political situation
Written by: Liu Jinhua
2020-07-04 19:44
Date of last update: 2020-07-04 19:44Under the influence of the New Coronary Pneumonia epidemic, global economic activity is affected, and Hong Kong is no exception. The local unemployment rate and underemployment rate have increased, and the government has frequently introduced policies to stimulate the economy and protect the public.
The Hong Kong Federation of Trade Unions today (4th) held a round table on "Exploring Hong Kong's Economic and Employment Prospects" to discuss Hong Kong's future economic prospects and countermeasures. The Financial Secretary Chen Maobo criticized last year’s social movement for local and foreign investors to worry about the risks of political instability in Hong Kong, reiterating that the Hong Kong version of the National Security Law can legally protect Hong Kong from the threat of terrorist activities that jeopardize national security through the use of laws "One country, two systems" has a stable future.
The Financial Secretary Chen Maobo said that due to the repeated overseas epidemic situation, the strained Sino-US political and economic relations, and the Western society’s launching of sanctions due to the Hong Kong version of the National Security Law, Hong Kong will have uncertainties and instability in the short term. (Photo by Luo Junhao)
Chen Maobo said that Hong Kong’s economy has faced challenges since 2018, including the Sino-US trade war and the slowdown in global economic growth, as well as local social movements and the New Coronary Pneumonia epidemic. Therefore, Hong Kong’s economy needs time to recover and hopes that society can create good consumption Atmosphere to improve the business environment. Chen Maobo also said that if the epidemic is under control and the society remains stable, Hong Kong’s economy is expected to bottom out in the second half of the year. However, due to the repeated overseas epidemic, the political and economic relations between China and the United States are tense, and the Western society has launched sanctions due to the Hong Kong version of the National Security Law. There will be uncertainty and instability. Chen Maobo reiterated that the current 10,000 yuan cash distribution plan has 5.7 million applications, pointing out that the public is using the money for consumption, which has a certain boost to the local economy.
Lei Dingming, a professor emeritus of the Department of Economics of the Hong Kong University of Science and Technology, pointed out that for a society's economy to be dynamic and innovative, it must rely on young people. He later criticized that in addition to destroying the market, last year's social movement's greatest harm to Hong Kong was to enable young people in Hong Kong to learn the "bricking strategy" and other socially disadvantaged and useless abilities. He also pointed out that some young people have already "returned." To turn around, no company will hire them. He also welcomed these young people to the Western countries where they were housed to promote the "exchange of blood" of Hong Kong's human resources, such as attracting elite talents from the Mainland to work in Hong Kong.
Technology will replace manpower
Deng Jiabiao, a labor member of the Labour Advisory Board, said that even if the local epidemic situation improves, the industries benefiting from the integration of China and Hong Kong can no longer maintain high growth, changes in the political environment, and the replacement of manpower by technology. Therefore, they are still pessimistic about the future economic prospects. Deng Jiabiao asked the government to strengthen the mobility between work industries, facilitate citizens to switch industries, and provide national treatment and protection for Hong Kong people in the Mainland, and encourage citizens to work and develop in the Mainland.
Hong Kong version of the National Security Law: Chen Maobo: The United States has provoked "so-called sanctions" The government has made contingency plans
Chen Maobo: The global economy is expected to recover gradually in the second half of the year
The government distributed 10,000 yuan｜Over 4.65 million applications received
10,000 yuan from the government | Chen Maobo: As of 11 a.m., over 750,000 people have been electronically registered
The government has allocated 10,000 yuan｜According to this application, Chen Maobo is expected to usher in the first peak registration period
Chen Maobo Hong Kong version of National Security Act New Coronary Pneumonia