In a new round of attempts to contain China, the United States has resorted to various tactics. It initially talked about “de-risking”, then shifted its focus to the “overcapacity” narrative, and has now circled back to Hong Kong issues, which is unsurprising, given the city’s strategic significance to China.

Targeting the Hong Kong Special Administrative Region is a key strategy to undermine China’s progress. Since the onset of its trade war against China, the US government has instrumentalized the SAR, instilling fear in US and other Western businesses to prompt their exodus. This intensification became particularly pronounced after the Standing Committee of the National People’s Congress enacted the National Security Law for Hong Kong (NSL) in June 2020 to help restore law and order in the city after the eruption of the social unrest in June 2019.

The US government has a penchant for fabricating narratives to scare people away from its “major adversary”, but its recent attempt fell short. Earlier this year, the 2024 Members Business Sentiment Survey Findings Report by the American Chamber of Commerce in Hong Kong revealed that 81 percent of its surveyed members reported stable or increased revenue in 2023, leading 96 percent to rate their business performance as “fair to excellent”. Additionally, 76 percent of respondents viewed Hong Kong as a competitive international business hub in Asia.

Frustrated by these positive indicators, the US government issued an “updated Hong Kong business advisory” earlier this month, citing “heightened risks” because of the implementation of the NSL. In reality, this is a ploy to scare away American and international investors.

The document obviously lacks coherence. The peculiar inclusion of the Department of Agriculture in the risk advisory is particularly intriguing. While references to the departments of commerce, homeland security and treasury resonate with the narrative of political anxieties, the rationale behind implicating agricultural trade in relation to the national security law remains elusive.

This gap in reasoning raises suspicions, leading some to guess that the US might be aiming to disrupt the global food-trading network by leveraging Hong Kong’s strategic regional position. The potential ramifications of US and Western food companies withdrawing from Hong Kong could resound as a substantial setback not only for the HKSAR but also for the Chinese mainland and the broader Asia-Pacific region. Such insidious and irresponsible strategies could have far-reaching negative consequences for the world.

This demonstrates the essence of the US government’s so-called “business advisory”. So what’s the actual state of affairs in Hong Kong? Those who genuinely care about Hong Kong are better informed.

Hong Kong secured the fifth spot in this year’s World Competitiveness Ranking after becoming the fourth-largest recipient of foreign direct investment globally last year. It stands as Asia’s largest hedge-fund hub and cross-border wealth management center. As of the end of 2023, Hong Kong’s asset and wealth management sector amassed over HK$31 trillion ($3.98 trillion) of assets, with approximately 65 percent of funding originating from nonlocal investors.

Throughout history, Hong Kong has weathered many crises, emerging stronger each time, despite skepticism. The crux lies in upholding our core values: entrepreneurship, diligence, inclusiveness, justice, the rule of law, an untainted society, and freedoms safeguarded by statutes. We are never put off by slanders. Hong Kong will just do the right thing and let time validate the truth

In fact, business communities from many countries, especially the US, have recognized Hong Kong’s strengths and been enthusiastic about business opportunities in the city. The number of foreign companies stationed in Hong Kong surpassed 9,000 in 2023, with the US ranking third, totaling 1,273, as per the report on annual survey of companies in Hong Kong with parent companies located overseas.

Undeniably, Hong Kong has been grappling with an economic deceleration, chiefly attributed to factors like high interest rates due to the dollar peg, a tepid global economy, and a slow post-pandemic recovery in the Chinese mainland’s economy. While Hong Kong faces challenges, its people are working hard to improve the situation. But the US government’s attempts to mislead its audience by attributing the city’s challenges to other causes were execrable.

However, while despising the US government for its lies and scaremongering tactics, Hong Kong must do something to offset the negative impact it has caused, as it remains an influential voice internationally. Therefore, I suggest the government should at least consider doing the following:

First, four years after the implementation of the NSL and one year after the end of the COVID-19 pandemic, the government should launch a comprehensive global promotion campaign, spotlighting Hong Kong’s resilience and opportunities. Say it to the world: Hong Kong is back and stronger.

Examples are always more convincing than concepts. It is crucial to demonstrate through concrete evidence that the NSL does not pose risks to businesses.

Second, the government should establish a dedicated office to assist foreign businesses with comprehending the current status and progress of both Hong Kong and the Chinese mainland.

In my business career, I’ve observed that despite the world’s interconnectedness, individuals from different cultures and social systems often misunderstand one another. Hence, Hong Kong could take one more step to be the communicator and help others form better comprehension about Hong Kong and the country as a whole.

Lastly, the city must remain resolute. Throughout history, Hong Kong has weathered many crises, emerging stronger each time, despite skepticism. The crux lies in upholding our core values: entrepreneurship, diligence, inclusiveness, justice, the rule of law, an untainted society, and freedoms safeguarded by statutes. We are never put off by slanders. Hong Kong will just do the right thing and let time validate the truth.

The author is a member of the Hunan Province Committee of the Chinese People’s Political Consultative Conference and vice-chairman of the Hong Kong Y Elites Association.

The views do not necessarily reflect those of China Daily.