Director of the Financial Secretary of the Hong Kong Special Administrative Region Government accepts an exclusive interview with Global Times: Hong Kong Development Stand at a new starting point in history

[Global Times reporter Zhao Juezhen Chen Qingqing] On the 19th, the State Council appointed 26 major officials in the sixth government of the Hong Kong Special Administrative Region in accordance with the law. Chen Maobo, the current director of the Financial Secretary, has been reserved. In January 2017, he has also served as the head of the Financial Secretary of the Special Economic Zone Government since he returned from Hong Kong. On the occasion of the 25th anniversary of the return of Hong Kong to the motherland, Chen Maobo has achieved the development achievements of Hong Kong in the past 25 years in an exclusive video interview with the Global Times reporter. Chen Maobo said that the development of Hong Kong is standing at a new starting point of history.

Continue to move forward in challenges

Global Times: When Hong Kong returned to the motherland in 1997, what kind of expectations do you have for the development of Hong Kong? How do you evaluate the achievements of Hong Kong's economic development over the past 25 years?

Chen Maobo: When the return of Hong Kong, I worked in the accounting industry and participated in the transfer ceremony of June 30, 1997 and the celebration of July 1. Everyone and I were very excited, and I was looking forward to Hong Kong after the return. At that time, the country had been in reform and opening up for about 20 years, and we all saw the rapid changes in the land of Shenzhou and were optimistic about the future. In addition, the Basic Law also gives Hong Kong's "one country, two systems" institutional advantages, and allows Hong Kong to maintain the original capitalist market economy and the original core competitiveness.

In 25 years, the GDP of Hong Kong (GDP) has doubled to more than HK $ 2.8 trillion; in the financial field, the total market value of the listed company in 1997 was more than 30 trillion Hong Kong dollars, which now reached more than 400 trillion Hong Kong dollars; listed companies The number is also from more than 600 in 1997 to more than 2,500 now. In the field of trade, the total amount of commodity trade in Hong Kong exceeded 10 trillion Hong Kong dollars in 2021, ranking sixth among the global economies. It can be said that although there are some challenges in the past 25 years, Hong Kong's economic growth is very beautiful.

Global Times: In the past 25 years, Hong Kong has experienced two financial crises. But we still see that the pace of economic development in Hong Kong has not stopped because of these interference. Where is the toughness of the Hong Kong economy coming from?

Chen Maobo: The most important thing is the solid support that the country has always given us. This also makes some speculators in the international community more careful, because they are not just facing a small Hong Kong.

In 1998, foreigners made bilateral shocks on Hong Kong in the stock market and the currency market. At that time, Zhu Rongji, then Prime Minister Zhu Rongji, said: "In case the SAR needs a central government, as long as the SAR government makes a request to the central government, the central government will maintain Hong Kong's prosperity at all costs at all costs. Stablize."

The development of the country's worldwide attention has been attracted worldwide in the past 40 years, and it can be said that it has never been seen in the history of human development. For Hong Kong, this provides a huge market and great opportunities to make Hong Kong a portal and bridge of the country. To enter and exit the Mainland, Hong Kong can develop.

Tradition and emerging "center"

Global Times: What is the new significance of Hong Kong as a hub that connects the Mainland and overseas markets as in the international environment? How will Hong Kong handle the relationship between security and development?

Chen Maobo: Now the United States is suppressing China, trying to interfere with or slow down the development of the Mainland. In the face of Hong Kong, risks and opportunities coexist. We need to have bottom -line thinking and do a good job of risk management. For example, when the mainland companies are sanctioned in Hong Kong, we will make different plans.

There are two aspects of these risks in general, on the one hand, political suppression, and on the other hand from the market. The US sanction of Hong Kong officials or institutions will have a short -term psychological impact on the market, and it does not rule out that speculators will take the opportunity to touch fish. At present, I lead the establishment of a risk monitoring and forecast mechanism of all -weather, cross -market, and linkage. This mechanism has absorbed the experience of 1998, including the Financial Administration, the CSRC, the China Insurance Regulatory Commission, the Financial Affairs and Treasury Bureau, etc., and keep an eye on the market in the form of interoperability and strengthen our risk of risk through policy measures.

At present, Hong Kong's bank capital adequacy ratio and liquidity indicators are higher than international standards, and the bad debt rate is relatively low. When someone wants to impact Hong Kong through market actions, we have a good plan while we are strong.

Global Times: For a long time, the country has supported Hong Kong to continue to do a good job in international finance, shipping, trade centers and international aviation hubs, and strengthen the functions of global offshore RMB business hubs, international asset management centers and risk management centers. In the "Fourteenth Five -Year Plan" plan, it also proposed to support Hong Kong to build an international innovation technology center, the Asia -Pacific region international law and resolving dispute service centers, regional intellectual property trade centers, and support Hong Kong to develop the development of Chinese and foreign cultural and art exchange centers. How do you look at Hong Kong with more and more "center" characters?

Chen Maobo: Such changes are related to national development and international pattern changes. Hong Kong must continue to play the role of several traditional centers. The international financial center is not only important to Hong Kong, but also important to the country. It requires us to continue to work hard to maintain competitiveness.

Among the four new positioning, the background of the International Innovation Science and Technology Center is the core competitiveness of different economies in the world. The focus is on scientific and technological innovation. Hong Kong universities have strong scientific research capabilities, but in terms of transforming technology into products and commercialization, Shenzhen, Dongguan and other brothers cities have done better than us. Therefore, all parties can form a relatively comprehensive science and technology industry chain together. At the same time, this also provides quality employment opportunities for young people in Hong Kong. After all, Hong Kong's industry is relatively single. In addition, the state supports Hong Kong to become the center of cultural and art exchange between China and foreign countries, which is related to soft power. China is the second largest economy in the world, and its right to speak and influence has continued to increase. But the United States' suppression of us is not only economical, but also in public opinion and publicity. Therefore, using Hong Kong's international advantages can help tell Chinese stories and Hong Kong stories.

Concentrate to crack people's livelihood issues

Global Times: In the new Special Economic Zone Government, you will continue to serve as the head of the Financial Secretary. In the future, what are your expectations for the development of Hong Kong?

Chen Maobo: In the future, there are three main focus of my work: maintaining financial development and security, promoting the diversified development of science and technology and Hong Kong economy, and promoting the solution of land and house supply.

Hong Kong has encountered many challenges in recent years, including the "repair storm" and new crown pneumonia in 2019. However, in the past two years, the state has passed the National Security Law of Hong Kong, and Hong Kong has legally sealed the vulnerability of national security. By improving the election system and implementing the principle of "Patriotic Governance Hong Kong", the practice of the "one country, two systems" policy has returned to the right track and stable and far away in Hong Kong. In the Legislative Council, it is no longer empty as before, and everyone can focus on development and solve the problems of social and people's livelihood.

From the objective conditions, the development of Hong Kong is standing at a new starting point of history, standing in a more favorable position and doing things better than before. Twenty -five years later, it is basically around the second goal of the second hundred years. Our country will be a socialist modern power, and Hong Kong will be more prosperous and more stable than now. For the current problems such as housing, the gap between the rich and the poor in Hong Kong, I believe that you can get a large improvement without waiting for 25 years. At that time, everyone will have a stable and happy life.

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