Officials witness the signing of multiple cooperation projects between Hong Kong and Chinese mainland institutions and enterprises. (ANDY CHONG / CHINA DAILY)

Hong Kong’s political and business heavyweights on Wednesday said that the nation’s rapid development provides an endless source of economic momentum to Hong Kong, adding that the city must leverage the advantage to boost the development of various sectors, speed up its journey from stability toward prosperity, and make a greater contribution to the nation’s high-quality development. 

They made those remarks at a symposium focusing on Hong Kong’s economic vitality, strengths and potential opportunities during the city’s historic process from stability to prosperity. 

Zheng Yanxiong, director of the Liaison Office of the Central People’s Government in the Hong Kong SAR, said Hong Kong’s role as a gateway to connect the Chinese mainland with the rest of the world is becoming increasingly prominent

The symposium, co-hosted by the Hong Kong Trade Development Council and several business chambers, highlighted the Hong Kong business community’s response to President Xi Jinping’s landmark speech on July 1, 2022. The event also aimed at showcasing the business sector’s endeavors to boost growth momentum and allowing the world to know Hong Kong’s economic situation better. 

The attendees included officials from the central authorities and the Hong Kong Special Administrative Region government, as well as leaders from local business chambers such as the Hong Kong Chinese Enterprises Association, the Chinese Manufacturers’ Association of Hong Kong, and the Chinese General Chamber of Commerce, Hong Kong. 

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In a keynote speech, Hong Kong Chief Executive John Lee Ka-chiu said that Hong Kong has the distinctive advantage of enjoying strong support from the motherland and being closely connected to the world. 

As required by Xi in his July speech, the unique advantage, together with the principle of “one country, two systems”, must be maintained in the long run, Lee stressed. 

To fully leverage that advantage, Lee noted that both the SAR government and all sectors of the Hong Kong community should actively integrate into the nation’s development, expand international connections and make a greater contribution to boosting closer cross-boundary cooperation. 

He pointed out that given the city’s global influence, Hong Kong has a responsibility to tell the success stories of itself and the nation. 

Also speaking at the symposium, Zheng Yanxiong, director of the Liaison Office of the Central People’s Government in the Hong Kong SAR, said Hong Kong’s role as a gateway to connect the Chinese mainland with the rest of the world is becoming increasingly prominent. 

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Over the past year, Hong Kong has further stepped out of the political turbulence and COVID-19 pandemic, focusing on reviving the economy, improving employment and maintaining market stability, Zheng said. 

The authorities on the Chinese mainland have introduced a series of favored policies to promote Hong Kong’s integration into the development of the nation, especially the Guangdong-Hong Kong Macao Greater Bay Area. All these factors have injected momentum for Hong Kong to enhance its own strengths, tackle global challenges and achieve greater successes, Zheng continued. 

Zheng also emphasized the importance of Hong Kong people maintaining an innovative mindset as well as an open and transparent business environment with the spirit of the rule of law to protect the interests of global investors. 

As long as people from all walks of life in Hong Kong are united, with fewer quarrels and internal strife, the engine of Hong Kong’s economy will have a greater impetus, Zheng added. 

Spande Chang Chi-yin, executive director of Winstar Chemicals, a company that focuses on new materials and technology such as semiconductors and connectors, said, “It’s a great honor to gain a better understanding of the nation’s business environment and policies through this symposium.” 

Since the full resumption of cross-boundary travel, Chang said he has visited many cities in the Guangdong-Hong Kong-Macao Greater Bay Area and learned about the mainland’s new technologies in lithium batteries and semiconductors. 

Chang said that he hopes to better participate in the development of the country, the Greater Bay Area, and the construction of the Belt and Road Initiative, adding that his company has worked with the Chinese Manufacturers’ Association of Hong Kong recently to lure more young professionals from Hong Kong and the mainland to better serve that purpose. 

Contact the writers at williamxu@chinadailyhk.com