News came out that Hong Kong’s suicide rate last year had risen to a 15-year high. This is bad news. Altogether, 1,080 suicide cases were recorded. The suicide rate stood at 14.73 per 100,000, which is comparable to that of the United States but much lower than that of South Korea. In the US, the latest suicide rate is for 2021, and it ranges from a low of 7.1 per 100,000 in New Jersey to 32.3 per 100,000 in Wyoming. For the country as a whole, it was 14.1. The rate for South Korea is 28.6. That of Japan is 15.3.

In recent months, Hong Kong’s crime rate shot up noticeably. In the first three months of the year, the overall crime rate rose by 48.4 percent while that of violent crimes shot up by 22.2 percent. Although Hong Kong is still a safe city by international standards, there is a lot of evidence that Hong Kong residents are stressed out. The Hong Kong Special Administrative Region government has taken notice, and has sought to improve the waiting time for psychiatric services and professional support for those who need the services.

Figures indicate that while the suicide rate has jumped across most age groups, the sharpest rise is among the elderly. Among those older than 70, the suicide rate now stands at 27.37 per 100,000. Among those aged 50-59, the suicide rate is 17.47. For this age group, the pace of increase is truly alarming, having risen from 12.93.

It should be understood that the surge in the crime rate and the suicide rate in part have to do with the city’s weaker economy, which shrank 3.5 percent last year. Particularly for those aged 50 to 59, financial stress following a layoff or a significant pay cut can be devastating. An examination of past statistics shows that high suicide rates are often associated with weakness in the economy, particularly weak housing prices. In particular, as housing prices fell from the 1997 peak to the low in 2003, the suicide rate rose from 12.1 to 18.0 per 100,000. As housing prices rose, the suicide rate dropped, eventually bottoming out at 12.0 per 100,000 in 2020.

This year the economy is showing a rebound, and the unemployment rate has declined noticeably. However, many people are still under tremendous financial stress. It turned out that the taxi driver who was killed recently in a serious traffic accident regularly worked close to 17 hours a day and had had two accidents in the year prior to the fatal smash. Family members should have known that this is very dangerous and should have stopped him from overworking. Taxi owners should also refuse to rent out their taxis to those suspected of working excessively long hours.

To reduce Hong Kong’s suicide rate and restore residents’ mental health, we need a multipronged approach.

First, we need to reduce the sources of stress. While stress is inevitable in life, some stress is very difficult to handle, and Hong Kong residents need to be educated to avoid falling into such stressful circumstances. Borrowing from loan sharks is a case in point. Loan sharks will not tell you that they are loan sharks. So people need to be educated to avoid falling prey to loan sharks, who always pretend to offer help or offer opportunities to make money through their agents. Excessive borrowing or gambling will almost always result in unmanageable stress. Financial regulators also need to be more forthcoming in fighting commercial crimes.

Breadwinners must avoid overwork that would risk their health or lives. Excessively long hours of driving on the road is a case in point. Failing to take the necessary precautions might lead to loss of life and then stress for the family.

Managing expectations about one’s performance in a particular task is another important point. Many people mistakenly think that not giving up on their identified goals demonstrates resilience and stamina. The reality is that many identified goals are mere instrumental goals, and they can be given up and sometimes should be given up in favor of a better valued long-term goal. One 17-year-old student who learned of his poor Hong Kong Diploma of Secondary Education examination results committed suicide on July 19 and blamed the education system. But doing well in the HKDSE exam is only an instrumental goal. There are so many pathways to realizing one’s potential, but schools rarely teach students the difference between instrumental goals and life goals. Unfortunately, even teachers and school principals may not understand this. But this basic point is an important objective of education and should be taught in all schools.

Managing expectations about other people is another important point. In the above-mentioned suicide incident, the distraught father cried out on learning of the tragedy: “Son, Dad had never put pressure on you!” This father was right not to put pressure on the son. Many parents, however, do put pressure on their children without knowing it. All parents should be forthcoming in telling their children that as long as they put in an honest effort and learn from past mistakes through reflection, they do not need to worry about the results because there are so many pathways to a fruitful life.

The government should continue to do what it can to revive the economy and lend a hand to those who need help. We need to remember that many people are vulnerable and cannot fend for themselves. It is nice to see Hong Kong rise by 13 places in the 2023 Economist Intelligence Unit ranking for a livable city. We all need to work together to make sure Hong Kong is livable and friendly, and that we are ready to help one another.

The author is director of Pan Sutong Shanghai-HK Economic Policy Research Institute, Lingnan University.

The views do not necessarily reflect those of China Daily.