Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor pledged on Monday to leverage the institutional strength of “one country, two systems”, make proactive investments, and use the city’s international connections to fortify its “bridgehead status” in the country’s further opening-up.
In her opening remarks at the Caixin Summit Hong Kong 2019, Lam cautioned that “the global economy is skirting downside risks as trade unilateralism and protectionism are gathering stream".
We will use the institutional strength bestowed by ‘one country, two systems’. We uphold the foundation of ‘one country’ and respect the diversity of ‘two systems’.
chief executive of HKSAR
The Hong Kong economy is unfortunately being dragged down by trade unilateralism and protectionism, a result of the city’s economy being externally orientated.
She said every economy should support, enhance and deepen openness and proactively find development models that are mutually beneficial.
As the world’s freest and most-open economy, Hong Kong strives to play a more proactive role in helping the country’s opening-up in all fronts, fortifying Hong Kong as an important bridgehead for the country, she said.
Lam said the Hong Kong Special Administrative Region government will achieve this aim by undertaking three measures.
“We will use the institutional strength bestowed by ‘one country, two systems’. We uphold the foundation of ‘one country’ and respect the diversity of ‘two systems’. Through the interactive development between Hong Kong and the mainland as well as capitalizing Hong Kong’s strengths, the city can integrate into the overall development of the country,” Lam said.
The chief executive also pledged to make investment at suitable time to bolster the city’s competitiveness. For example, the government has committed more than HK$100 million (US$12.75 million) in the technology sector in the last two years, launching various measures to foster technology and innovation, expand technology infrastructure investment, and nurture technology expertise.
Hong Kong will also leverage its international connections and high degree of autonomy in dealing with external affairs to tell the story of Hong Kong during the country’s further reform and opening-up, Lam said.
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