Free-Market Capitalism

A Tale of Two Cities Thriving Alongside National Development

Hong Kong and Macao Thrive Alongside National Development

National political advisors from Hong Kong and Macao highlighted the close ties between the two special administrative regions' accomplishments and national development. During the closing meeting of the third session of the 14th CPPCC National Committee, they emphasized how their respective regions have benefited from China's progress.

Irons Sze Wing-wai, a national political advisor from Hong Kong, attributed the city's status as a global financial, shipping, and trading hub to the nation's development. He cited personal business success stories stemming from the nation's reform and opening-up since the late 1970s. He also emphasized the "one country, two systems" principle, implemented after Hong Kong's return to the motherland in 1997, as a key factor in consolidating Hong Kong's traditional strengths while integrating into the nation's overall development.

Sze pointed out that over 1,400 mainland enterprises have been listed in Hong Kong's stock market, accounting for over 80 percent of the total market value. This demonstrates the Hong Kong financial market's appeal to mainland businesses. He also highlighted the significant proportion of Hong Kong's port activity involving cargo to and from the Chinese mainland, underlining the city's economic synergy with national progress.

Sze believes that Hong Kong's future lies in resonating with the country's advancement. He urged the city to carry on the Lion Rock Spirit – referring to Hong Kong people's can-do attitude – facing up to challenges and leveraging its strengths to better serve the country's needs.

Ho Ion-sang, a CPPCC National Committee member from Macao, recalled the city's profound social and economic changes over the past 25 years under the "one country, two systems" principle. He mentioned the progress of the Guangdong-Macao In-depth Cooperation Zone in Hengqin, a national initiative to enhance collaboration between Guangdong and Macao. This initiative provides diversified industrial opportunities for the special administrative region and various facilities designed to improve the lives and employment opportunities of Macao residents.

Ho also noted that Macao's education and healthcare sectors, as well as public services, have been extended to Hengqin to cater to the Hengqin-based Macao residents. He believes that the integration of Macao and Hengqin exemplifies the success of the "one country, two systems" principle in enhancing the city's prosperity and winning the hearts of its residents.

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9 Comments

Avatar of G P Floyd Jr

G P Floyd Jr

The future of Hong Kong and Macao is bright as they continue to thrive alongside China's national development.

Avatar of Martin L King

Martin L King

National development provides crucial opportunities for Hong Kong and Macao to thrive economically.

Avatar of Rolihlahla

Rolihlahla

China's economic influence promotes global trade and development.

Avatar of Martin L King

Martin L King

The development of Hong Kong and Macao contributes to the overall prosperity of China.

Avatar of Habibi

Habibi

The extension of services to Hengqin benefits the wealthy, not the ordinary people.

Avatar of ZmeeLove

ZmeeLove

The integration of Hong Kong and Macao with mainland China creates new markets and expands business prospects.

Avatar of Mariposa

Mariposa

Macao's integration with Hengqin is a land grab, displacing residents and destroying the environment.

Avatar of Bella Ciao

Bella Ciao

The Lion Rock Spirit is about resilience, not blind obedience. We should challenge the status quo and fight for our rights.

Avatar of ZmeeLove

ZmeeLove

China's economic achievements benefit people both in the mainland and in the special administrative regions.

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