China News Service, Hong Kong, November 1. The Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, stated on his blog on November 1 that the country is entering a new stage of development, from a stage of rapid growth to a stage of high-quality development.
He believes that in the future, Hong Kong companies can actively participate in the domestic market by promoting high-quality products to expand domestic sales and expanding import distribution business.
On the same day, Chen Maobo published a blog entitled "New Stage of National Development". In his article, he stated that after five consecutive quarters of negative economic growth in Hong Kong, there are first signs of bottoming out. The third quarter GDP rose by 3% compared with the previous quarter, ending the continuous Downtrend in five quarters.
However, he also said frankly that even if the overall economy shows improvement, the environment faced by ordinary workers is still difficult.
In addition, the current financial market valuation is too high, and there is a phenomenon that is contrary to the performance of the real economy. The subsequent fluctuations and the resulting changes in capital flows will affect the global economy, and this may have a greater impact on emerging economies .
Chen Maobo mentioned that the country is entering a new stage of development, from a stage of high-speed growth to a stage of high-quality development. The momentum of economic development will accelerate the shift from foreign trade to domestic demand.
He said that as long as the mainland economy continues to grow and people's income generally continues to increase, there will still be a lot of room for growth in the mainland consumer industry.
In the future, Hong Kong companies can actively participate in the domestic market by promoting high-quality products to expand domestic sales and expanding import distribution business.
Chen Maobo believes that Hong Kong will continue to play an important function and platform role in the two important national development strategies of the “Belt and Road” construction and the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
The Greater Bay Area will be an important entry point for Hong Kong to participate in the internal cycle of the country. Therefore, Hong Kong must seize this major opportunity to help the nation's construction while also creating broader development space for Hong Kong.
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