By Tu Haiming

Now that Hong Kong’s concerns about national security threats have been put behind it, with the Safeguarding National Security Ordinance and the National Security Law for Hong Kong together building a strong defense framework, the focus of the special administrative region undoubtedly should turn to the question of how the city can strengthen its advantages for the well-being of residents.

When Vice-Premier Ding Xuexiang met with Hong Kong and Macao members of the National Committee of the Chinese People’s Political Consultative Conference during this year’s two sessions, he reiterated the central government’s support for the two SARs’ maintaining their unique status and advantages, hoping they will continue to play a significant role in the nation’s high-level opening-up. With the strong support of the central government, plus a much improved social environment, Hong Kong has ushered in a marvelous opportunity for furthering socioeconomic development. It should take a more proactive approach to consolidate its traditional advantages and cultivate new strengths.

Hong Kong’s fundamental advantages are the consistent backing of the central government and the city’s international connectivity. To forge new strengths, the first thing to do is to take full advantage of the Chinese mainland’s opportunities, with a particular focus on two aspects:

First, Hong Kong should make good use of the central government’s favorable policies, which abound in its policy toolbox. The HKSAR government needs to proactively provide input on what policy tools are needed from time to time for maximum benefits. Now that Hong Kong is back on track, the HKSAR’s governance team should set its sights on socioeconomic development, and seek support policies from the central government.

Second, Hong Kong should fully exploit the vast mainland market, the home to a population of 1.4 billion, which is not only larger than that of the entire European continent but is also witnessing rapid growth in consumption. Taking for example the automobile industry, at the end of 2023, the number of civilian vehicles in the mainland reached 336 million. The mainland is stepping up efforts to foster new quality productive forces by developing new industries while transforming and upgrading traditional industries. It is envisaged that consumption demand will soar in the coming five to 10 years. Hong Kong should closely observe the trend and pace of development on the mainland so as to tap the huge mainland market by leveraging its strong advantages in the modern services sector.

To forge new strengths, Hong Kong must also further improve its physical connectivity and institutional connectivity.

It will take multiple breakthroughs for Hong Kong to achieve full institutional connectivity. While Hong Kong has been doing well as a channel for foreign capital to access the mainland market and as a springboard for mainland enterprises to go abroad, there is room for improvement in its institutional connectivity with the mainland. For instance, in the realm of technological innovation, there is a lot to do in aligning systems and mechanisms in the two sides for the creation of an integrated technology market, as well as facilitating the sharing of scientific research resources among Guangdong, Hong Kong and Macao. In terms of talent development, the three places can potentially collaborate in education to nurture world-class professionals and facilitate cross-boundary mobility of international talent. There is also room for further aligning the legal systems of the three jurisdictions. Hong Kong should assume a leading role in enhancing institutional connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) since it has the capability, thanks to its high degree of internationalization, and the responsibility to support the mainland’s “institutional opening-up” endeavor.

In bolstering “physical connectivity”, Hong Kong must adopt a broader perspective, taking into consideration the whole picture of the GBA. For instance, when considering augmenting its port capacity, it should take into account the ports of Guangzhou, Shenzhen, Dongguan, Foshan and Zhuhai. Similarly, when considering expanding its freight capacity, it should take into consideration the airports in Guangzhou, Shenzhen, Zhuhai and Macao, adopting a strategic mindset of “collective development”. In short, Hong Kong should have a full picture in mind when mapping out policies.

To forge new strengths, Hong Kong must also unleash the development potential in cross-boundary cooperation. For more than two decades since Hong Kong’s return to China, the anti-China forces have hindered the city’s development with various tactics. Cooperation efforts between Hong Kong and the mainland had often been politicized and obstructed. Now that political interference is no longer a concern, the city should identify and unlock such development potential to build new strengths for its development.

National development initiatives such as the GBA and the Belt and Road Initiative (BRI) offer Hong Kong ample opportunities to build new strengths. Technological innovation in the GBA will allow Hong Kong, which boasts outstanding research capabilities in certain areas, to position itself at the forefront of the innovation value chain. As Guangdong houses a robust production base seated in the downstream of the value chain, Hong Kong should join forces with the province to tap into the midstream of the value chain and unlock its development potential. As for participation in the BRI, substantial potential exists for collaboration between Hong Kong and the mainland in areas such as intellectual property transactions, cultural tourism, and joint hosting of international events.

Xia Baolong, director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, has repeatedly emphasized that the central government attaches great importance to Hong Kong’s unique status and advantages, and consistently supports the city to maintain its advantages. Hong Kong should live up to the central government’s expectations, and strive to forge new strengths in order to enhance its global competitiveness.

With a robust legal framework for national security protection in place, Hong Kong is blessed with unprecedentedly favorable conditions for pursuing progress in four areas — bolstering economic development, strengthening governance, improving people’s livelihoods, and forging advantages. All quarters of society should rally behind Chief Executive John Lee Ka-chiu and his governance team in seizing opportunities, riding out challenges, and propelling Hong Kong’s development to a new level.

The author is vice-chairman of the Committee on Liaison with Hong Kong, Macao, Taiwan and Overseas Chinese of the National Committee of the Chinese People’s Political Consultative Conference and chairman of the Hong Kong New Era Development Thinktank.

The views do not necessarily reflect those of Bauhinia Magazine.

Source: China Daily