The Hong Kong Electoral System Ordinance came into effect today, and Hong Kong’s political development has entered a new chapter
[Global Times Special Correspondent in Hong Kong, Ye Lan] Hong Kong Chief Executive Carrie Lam signed the "Improvement of the Electoral System (Comprehensive Amendment) Ordinance 2021" on the 29th, which was gazetted on the 31st and came into effect.
Hong Kong's political development has entered a new chapter.
According to Hong Kong’s "Sing Tao Daily" report on the 30th, Lam Cheng signed the "Regulations" passed by the Legislative Council in accordance with Article 48, paragraph 3 of the Basic Law.
She said that signing bills passed by the Legislative Council and promulgating laws is one of the chief executive’s constitutional powers. “I have exercised relevant powers within a year to sign four laws or legal documents that improve the implementation of'One Country, Two Systems' in the Hong Kong Special Administrative Region. heavy responsibility".
Financial Secretary Chen Maobo said on the 30th that neighbouring cities are developing rapidly and there are many opportunities. However, looking back at Hong Kong in the past 10 years, people often feel that development has stagnated. In particular, the constant political disputes and the increasingly serious internal friction in the parliament have hindered the development of Hong Kong. The effectiveness of the government’s governance and the severe violent impact of illegal violence in the second half of 2019 also damaged Hong Kong’s public security, rule of law, and investment environment.
He hopes that with the implementation of the Hong Kong National Security Law last year and the subsequent establishment of the system of public officials swearing allegiance, together with the newly completed amendments to the perfect electoral system, Hong Kong will be able to move from chaos to governance and move towards a new milestone in governance and prosperity.
The Secretary of Justice Zheng Ruohua said that he will continue to work closely with other government departments to make preparations to ensure that the next three elections can be held as scheduled.
The Secretary for Financial Services and the Treasury, Xu Zhengyu, said that he would never worry about Hong Kong's status as an international financial center being shaken, because various data reflect the growing financial advantages of Hong Kong.
Since the second quarter of last year, more than US$50 billion has flowed into Hong Kong. The current foreign exchange reserves of Hong Kong are 1.8 times the monetary base. In the stock market, the initial public offering (IPO) in the first three months of this year raised approximately HK$137 billion, compared with the same period last year. Increased 9 times.
He said that Hong Kong is different from Singapore in that it is supported by the motherland and is a "blessed land."
At present, the service industry accounts for nearly 60% of the GDP of the Guangdong-Hong Kong-Macao Greater Bay Area. Hong Kong's strengthening of the export of service industries to the Mainland can bring huge economic benefits.
Hong Kong’s Toutiao Daily commented that the National Security Law empowers administrative agencies to maintain national security at the level of law enforcement. Changing the electoral system is described as a radical change and a more thorough approach.
"In the past, noisy and noisy, the populist approach of dragging down the policy with rags is difficult to reappear. The Chamber of Commerce has returned to the tone of rational discussion."