Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government Paul Chan said that Hong Kong continues to be the unique business bridge between the mainland and the rest of the world.
Chan made the remarks at a webinar entitled “How Hong Kong continues to be a gateway to China” co-organized by the Belgian-Chinese Chamber of Commerce and the Belgium-Hong Kong Society.
Chan said that Hong Kong’s wide-ranging institutional advantages and fundamentals, including the rule of law and judicial independence, free flows of information and capital and a low and simple tax system, have continued to underpin the HKSAR as an international financial, trading and commercial centre.
Riding on its formidable strengths, Hong Kong has been exploring initiatives to open up more markets and business opportunities for local and international businesses.
The Belt & Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development offer far-reaching opportunities that would reward Hong Kong businesses and all the companies from Belgium and elsewhere in Europe that work with Hong Kong, Chan said.
Addressing concerns about the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region, Chan reassured that the purpose of the law is to ensure a safe and stable environment for Hong Kong, which is essential for the continued prosperity of Hong Kong.
He reiterated that the law targets only an extremely small minority of criminals who endanger national security.
It will not change the high degree of autonomy, the judicial independence and the rule of law that have long distinguished Hong Kong. The legitimate rights and interests of people and businesses in Hong Kong will not be affected.