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Friday, January 25, 2019, 23:05
Tung Chee hwa: Reform gives Chinese people confidence in future
By Li Bingcun
Friday, January 25, 2019, 23:05 By Li Bingcun

The remarkable achievements brought by the country’s reform and opening-up have given Chinese people great confidence about the future, Vice-Chairman of the National Committee of the Chinese People's Political Consultative Conference Tung Chee-hwa told the China News Service.

Tung said this confidence came from the “incredible” and “unprecedented” changes China has undergone during the past 40 years. 

On the back of formidable growth China has become the world’s second-biggest economy and is responsible for about one-third of global economic growth.

“We have experienced a marvelous 40 years – of which all Chinese should be proud,” he said.

Tung, the first chief executive of Hong Kong Special Administrative Region, said the city had played a pioneering role in these remarkable changes. But it had also benefited greatly from the nation’s reform and opening-up.

He recalled that in the mid-1970s, Hong Kong evolved into a leading economy in Asia with booming labor-intensive industries such as textiles and electronic products. Yet a severe shortage of land and labor restricted its development.

Benefiting from the country’s reform and opening-up policy, many Hong Kong businessmen have relocated their factories to cities in the Pearl River Delta, a region with abundant labor resources. Tung said this boosted the development of these enterprises.      

Hong Kong business leaders have also profited from the policy by investing in mainland enterprises, he added.

The city continues to contribute to the nation’s reform and opening-up with its world-leading financial industries. Serving as a bridge for mainland and overseas markets, Hong Kong is still helping the mainland attract foreign investment, the former CE noted.

In future, Tung believes the SAR could still play a major role in the nation’s development.

He suggested the government expand the city’s healthcare services to more cities in the Guangdong-Hong Kong-Macao Greater Bay Area. He also believes the city could leverage its status as international financial hub to help with the internalization of renminbi.

Tung also expressed confidence in the “one country, two systems” principle in Hong Kong and Macao SARs. 

He believes the “one country, two systems” principle has equipped Hong Kong with “tremendously huge” advantages. He believes the principle will maintain its vitality and contribute to the eventual reunification with Taiwan.

bingcun@chinadailyhk.com

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