In just the past three weeks, a series of mega-scale and international events have drawn a troupe of policymakers, game-changers and talents from around the world to Hong Kong:
- The second Global Financial Leaders’ Investment Summit, was graced by 300 leaders from 160 global institutions, 90 of them group chairmen or CEOs;
- The Hong Kong Legal Week, which has attracted over 11000 participants;
- The week-long event, Hong Kong FinTech Week, drew an audience of over 30 000, together, mapping out the future of fintech;
- The return of the Hong Kong Golf Open and the Harbor Race;
- The popular Wine and Dine Festival, drawing in 140000 participants at its gastronomic extravaganza.
“After a few challenging years, Hong Kong is not only back on the world stage; we are on the center stage of the world now.”
On November 16, Chief Executive, Mr. John Lee stated the above word at the Joint Business Community Luncheon.
However, Hong Kong’s economy is not out of the woods just yet. Against the backdrop of a mixed and complex global economic picture, Mr. Lee has remained steadfast in his governance blueprint to the principles under “four musts” and “four proposals” for the current-term SAR Government.
On October 25, Mr. Lee announced the Policy Address, with the theme of creating “A vibrant economy for a caring community”.
How? During the speech on the event, he highlighted some key polices that are relevant to Hong Kong’s business community, and to the economic vitality of our city.
- The full and faithful implementation of the “one country, two systems” principle.
Mr. Lee said, we can count on the full support of the Central Government, and foster even closer people-to-people, business-to-business and government-to-government links between the Hong Kong SAR and the Mainland.
This will ensure confidence and stability, also helps local and international firms tap into the vast opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and throughout the mainland.
- Hong Kong’s tried and trusted systems offer overseas companies a familiar business environment.
The 2023 Rule of Law Index, published by the World Justice Project, ranks Hong Kong 23rd out of 142 countries and jurisdictions – meaning we are ahead of over 80 per cent of the world in this area. Hong Kong is in the top one-fifth.
According to Mr. Lee, “We provide a level playing field underpinned by a robust common law system, and a judiciary that exercises its powers independently.”
- Freest economies.
“As one of the freest economies in the world, and one of the easiest places to do business, Hong Kong not only facilitates business; but also add value for businesses.” Said Mr. Lee. Among our value-adding advantages are a raft of free trade agreements signed with 20 economies and investment agreements with 32 economies around the world.
He added, Hong Kong now is seeking early accession to the Regional Comprehensive Economic Partnership, or RCEP, and hope to add this, the world’s largest FTA (free trade agreement), to our list of free trade partners in the world in the not-too-distant future.
- Attracting the world top to Hong Kong.
Hong Kong makes no secret of its intention to trawl the world for top talent to come, and contribute to the city’s development. It has initiated various talent attraction schemes, which have attracted over 180000 applications in the first 10 months of this year. Over 110000 of them have been approved, and some 70000 talents have already arrived in Hong Kong.
- The long-term plans for future growth and economic capacity.
Mr. Lee mentioned Northern Metropolis in his speech. It covers an area of some 30 000 hectares, upon full development, it will be home to about 2.5 million people and create some half a million jobs, many of them in the I&T (innovation and technology) fields.
Overall, “The future is bright, and opportunities are bountiful.” But Mr. Lee put it straight, like the Northern Metropolis, or any other development projects, it starts with a firm belief in bringing out the best of our shared community.