Hong Kong media: Hong Kong is booming, and the western slander is wrong

"South China Morning Post" June 30 article, original topic: how much Hong Kong has flourished since 1997 and proves that Western slander is wrong 25 years ago when Hong Kong is ready to return to the motherland, international media and scholars believe that "the death of Hong Kong" believes that "the death of Hong Kong" Already coming. It can be said that the immigration wave appearing in Hong Kong in the mid -1990s has even encouraged this statement. Twenty -five years later, any objective and honest assessment should conclude that although Western media have been advocating doom and fear, the above statement is not only inaccurate, but also wrong.

In fact, "New Lun Port" has now become a commonly used in the business community, and Hong Kong has always been recognized as one of the top international financial centers with New York and London. In the latest issue of the "Global Financial Center Index" released in March this year, Hong Kong maintained third place in the rankings, defending its leading position in Asia under the challenges of Shanghai and Singapore.

Statistics show that Hong Kong is still an attractive choice for overseas talents. Last year, the number of people who came to work in Hong Kong through the "General Employment Plan" and "Entering the Mainland Talent Program" recovered, an increase of nearly 20%compared with 2020.

Hong Kong is still an ideal place for companies around the world to carry out business. The total number of non -local companies registered rose from approximately 13,700 in 2020 to 14,400 at the end of February this year. In fact, in the past five years, the number of companies in the regional headquarters and offices with Hong Kong has continued to rise -only the exception of American companies.

The business of Britain, France and other countries in Hong Kong has remained stable or even increased. This also proves that the World Bank lists Hong Kong as the third largest commercial friendly economy in the world in 2020 -it has increased compared with the fourth and fifth place in the previous two years, respectively.

There is no doubt that without the close contact and support of the world's second largest economy in China, all these achievements and recognition are impossible. In fact, since the return of Hong Kong to the motherland, the economic development of Hong Kong and the Mainland has become more synchronized.

Specifically, in the past 13 years, Hong Kong has 7 years in the world's most important IPO market, and in 2021, mainland companies accounted for 98%of all IPO market value in Hong Kong. Since 1997, the share of mainland companies in our stock market has doubled more than doubled, and the proportion of market value has soared from 16 % to 78 %.

There is no doubt that without the listing of mainland companies, the turnover and market value of the Hong Kong stock market will be greatly reduced. They help consolidate Hong Kong's international financial center position among global investors, and also use it to raise funds and expand their business. As a Hong Kong financial practitioner, this success brings to me is unspeakable. It perfectly illustrates how the financial industry is booming under the grand concept of "one country, two systems" and successful implementation.

Looking back at the significant development of our city in the past 25 years, I can't help remembering that in 1997, it was a year of profound significance to my personal significance. That year, I started my career and had previously obtained a master's degree in Yale University and a bachelor's degree in economics from the University of Chicago. I left the ivory tower and started working in New York, and I was alone in a foreign country. My parents moved to Hong Kong from the rural areas of Chaozhou in the 1960s to work hard to support their children. They witnessed Hong Kong as an international metropolis. As long as the citizens have the opportunity, they can release potential and bring vitality to society, which is a great encouragement for my growth. This is why I am determined to return to China in the future. The happiest thing is that I returned to China in 2005 and continued to work in the financial industry.

Looking forward to the future, the fourteenth five -year plan explains the state's support for strengthening and improving Hong Kong's status as an international finance, aviation and trading centers. Related plans will also promote Hong Kong to develop into an international innovation and technology center, as well as the center of international cultural exchanges between the East and the West.

At the same time, as China plays an increasingly important role internationally, Hong Kong's core traditional advantages are essential to help our country go to the world. Hong Kong can use China's international status to grow and contribute to the overall needs of the motherland.

In the next five years, Hong Kong is a critical moment from stability to prosperity. I believe that with our joint efforts, we can cope with the many social and economic challenges facing Hong Kong and truly improve the lives of everyone. (The author Huang Yuanshan is a member of the Hong Kong Legislative Council, the deputy director of the Hong Kong Fund, and the translation of Qiao Heng)

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