China News Service, Hong Kong, September 27th (Reporter Wang Jiacheng) The Hong Kong Special Administrative Region Government released the "Report on the Business Environment in Hong Kong: Unlimited Advantages, Unique Opportunities" on the 27th.
The report pointed out that since the establishment of the Hong Kong Special Administrative Region, "One Country, Two Systems" has always been the cornerstone of Hong Kong's economic development.
The report stated that on the basis of "one country, two systems", Hong Kong has long maintained a business-friendly system advantage. The state has also given Hong Kong the "Mainland and Hong Kong Closer Economic Partnership Arrangement" (CEPA) and other convenient measures.
Coupled with other conditions that are conducive to competitiveness, and in terms of being backed by the motherland and facing the world, Hong Kong has become an international financial, commercial and headquarters center, as well as a major investment, transportation and logistics hub.
The report is divided into three chapters: The first chapter describes the serious negative impacts of the "black riots" and the US strategy of containing China on Hong Kong's economy and business environment.
The second chapter focuses on the formulation and implementation of the Hong Kong National Security Law and the implementation of "Patriots Governing Hong Kong" to effectively maintain Hong Kong's social stability and business environment.
The third chapter focuses on the new Hong Kong business environment that is back on track. The advantages of the new business environment are outstanding, and the future development space is unlimited.
The report pointed out that the large-scale violent destruction caused by the amendment to the Fugitive Offenders Ordinance has caused severe damage to Hong Kong's economy, society and people's livelihood. The black violence has also led to a severe recession in Hong Kong's economy before the outbreak of the new crown virus.
A series of violent riots seriously challenged the bottom line of "One Country, Two Systems", endangered national security, trampled on Hong Kong’s rule of law, disrupted public order, and endangered public security. It caused business concerns about Hong Kong’s business prospects, had a certain impact on financial stability and financial security, and affected international ratings. Institutional evaluation of Hong Kong.
The report pointed out that the United States uses Hong Kong as a pawn to contain China’s development, encourages support for the opposition and wreaks havoc, imposes brutal and unreasonable sanctions on relevant central officials and officials of the Hong Kong Special Administrative Region, unilaterally and unreasonably acts against Hong Kong’s special treatment, and imposes unreasonable actions against operations in Hong Kong. Of multinational corporations put pressure and wantonly spread rumors and slander on Hong Kong’s business environment.
According to the report, Hong Kong’s National Security Act restores peace and stability to the society, the citizens return to their normal lives, the economy and people’s livelihood can be re-developed, and the individual rights and freedoms of the general public are once again protected.
Modifying and improving the Hong Kong election system has improved the governance efficiency of the SAR government.
The SAR government can more effectively implement epidemic prevention and anti-epidemic work and revitalize the economy.
The report also cited a number of specific data to point out that since the implementation of the Hong Kong National Security Law, the Hong Kong financial market has remained stable, and the linked exchange rate system and various financial market links have been operating well.
The exchange rate of the Hong Kong dollar against the US dollar has always been in a strong conversion range; from the implementation of the Hong Kong National Security Law in July last year to October, the Hong Kong dollar recorded a net inflow of funds; the banking system remained robust; Both the "Shenzhen-Hong Kong Stock Connect" northbound and the "Bond Connect" northbound average daily transaction volume have increased; Hong Kong's asset and wealth management business has recorded substantial growth; the bond market has also maintained vigorous development.
The report also mentioned that the overall crime cases in the first half of 2021 fell by nearly 10% compared with the peak period of "black storms" in the second half of 2019.
In addition, since the beginning of this year, Hong Kong’s economy has been strong, with a significant year-on-year rebound of 7.8% in the first half of the year. Goods exports have been particularly strong, internal demand has increased, and private consumption expenditure has resumed year-on-year growth.
The labor market has improved significantly, and the unemployment rate has dropped rapidly from the 17-year high at the beginning of the year.
The report emphasizes that international organizations have always spoken highly of Hong Kong’s economic freedom and competitiveness.
The "Regulation Disturbance" and the US's containment strategy against China have not shaken Hong Kong's inherent advantages, including the unique advantages given to Hong Kong by "One Country, Two Systems"; the free port policy allows Hong Kong to implement zero tariffs, and there are no non-tariff barriers to protect the development of local industries. .
As an open and diversified international metropolis, Hong Kong is a gathering place for talents, institutions and enterprises of different sizes from all over the world; Hong Kong also has a safe, high-quality and urban-rural cosmopolitan living environment.
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