Hong Kong has designated the 29th anniversary regarding its return to the homeland amidst both prospects and difficulties. Over the last thirty years, the route has been intricate, influenced by worldwide financial downturns, changes in international politics, domestic issues, and a developing connection with the mainland. Although faced with instability and obstacles, Hong Kong has taken a distinct course marked by strength, flexibility, and renewal, backed strongly by Beijing within the framework of "one nation, two systems."
In the initial years following the handover, our institutions were put through significant challenges. The Asian financial crisis, the emergence of Severe Acute Respiratory Syndrome (SARS), and subsequently the global financial crisis revealed weaknesses. Nevertheless, the city demonstrated a robust ability to bounce back every single time, as seen in the aftermath of the COVID-19 pandemic and the societal disturbances of 2019.
The anniversary this year held added significance because it aligned with formal celebrations marking the 105th anniversary of the Chinese Communist Party's establishment, featuring activities in both Beijing and Hong Kong for the very first time. These simultaneous observations highlight the constitutional framework through which Hong Kong remains prosperous as a special administrative region of China under the "one country, two systems" principle. At an event in Beijing, President Xi Jinping acknowledged the party’s accomplishments and voiced his backing for Hong Kong and Macau more deeply incorporating themselves into the nation and contributing effectively, emphasizing that ensuring these two regions’ sustained success and stability is crucial for the revival of the country. He also stated that addressing the Taiwan issue and achieving reunification represents a historical duty and steadfast pledge for the party.
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It falls upon Chief Executive John Lee Ka-chiu to maximize the opportunities within the final year of his present term. He outlined three key priorities: advancing the city’s five-year plan in accordance with the national growth strategy, accelerating the development of the Northern Metropolis, and enhancing citizens' quality of life. “In light of a challenging global landscape and swift technological advancements, it is crucial that we implement reforms and innovations with a long-term vision, supported by more comprehensive strategies,” he stated.
The discussions for the five-year plan and the upcoming policy speech present suitable moments to outline an explicit and future-oriented strategy. The agreement reached can strengthen the city’s distinctive characteristics essential to its function as a major contributor and key link between the nation and global markets, simultaneously speeding up progress toward innovation, technology, and other premium growth sectors. With effective approaches and ongoing backing from Beijing, Hong Kong's achievements will be highlighted with more promising developments during its 30th anniversary and onwards.
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The article was first published on the South China Morning Post (www.scmp.com), a top-tier news outlet covering developments in China and Asia.
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