Greater Bay Area

The 'Pearl of the East' shines with new vitality and wins more likes

2025-06-06   

As the Hong Kong economy steadily moves forward and shines in the global market fluctuations, Stephen Roach, a senior researcher at Yale University who had doubts about the future of Hong Kong, recently announced the withdrawal of his negative forecast made last year because the "new vitality" here left a deep impression on him. Once again, Hong Kong, with its impressive development achievements, has changed the perspective of those who view it as negative, and has also debunked the rumors of pessimism. Actions speak louder than words. In the first quarter of 2025, Hong Kong's gross domestic product (GDP) grew steadily, reaching a new high for five quarters; Since the beginning of this year, the amount of new shares raised has exceeded HKD 76 billion, an increase of over seven times compared to the same period last year; The Hang Seng Index rose over 17% last year and has risen over 15% since the beginning of this year, leading the global stock market; The International Mediation Institute has settled in Hong Kong, and the development of new quality productivity is flourishing. The economic transformation and upgrading have entered the fast lane... The latest report released by the international rating agency Fitch has affirmed Hong Kong's strong credit fundamentals, maintaining its credit rating and "stable" rating outlook; A survey conducted by the American Chamber of Commerce in Hong Kong at the beginning of the year showed that 79% of surveyed companies have no intention of relocating their headquarters out of Hong Kong in the next three years, and 75% of companies believe that Hong Kong is a competitive international business center in Asia; As of the end of 2024, both local and foreign companies have reached a peak in the number of registered companies in Hong Kong... The current external economic environment continues to fluctuate, but the Hong Kong economy, backed by the motherland, has once again shown strong resilience, vitality, and attractiveness, forcing pessimistic individuals to face the facts and revise their judgments. This is the best embodiment of the unique advantages and strong vitality of 'One Country, Two Systems'. As a "super contact" and "super value-added person", Hong Kong enjoys unlimited opportunities in actively integrating into the overall development of the country and deepening international exchanges and cooperation. Whether it is integrating into the construction of the Guangdong Hong Kong Macao Greater Bay Area or participating in the joint construction of the Belt and Road Initiative, Hong Kong has gained tremendous room for self-improvement. Taking the listing of CATL in Hong Kong as an example, this year's largest IPO project in the world fully demonstrates the value of Hong Kong as an international financial center and the platform advantage of Hong Kong in assisting mainland enterprises to accelerate their global strategic layout. Many foreign investors have stated that they will increase their asset allocation in mainland China and even Asia through Hong Kong. It can be seen that the golden signboards of international finance, shipping, and trade centers, as well as the highly internationalized, rule of law, and market-oriented environmental endowments, give Hong Kong sufficient confidence for sustainable development under the "One Country, Two Systems" policy. This is also a positive feedback from all sectors in Hong Kong to recognize, adapt to, and seek change. The current SAR government firmly implements the governance concept of "results oriented", focuses on reform, strives to make progress, effectively connects with national development strategies, actively promotes the construction of an international innovation and technology center in Hong Kong, and strives to create an international high-end talent gathering highland. The dual engine linkage of "finance+innovation and technology" has taken shape. Proactively 'going global' opens up new development space for Hong Kong. In May of this year, the Chief Executive of the Special Administrative Region, Li Jiachao, led a business delegation to visit the Middle East for the second time. During the five-day trip, a total of 59 cooperation memorandums and agreements were reached, covering many fields such as economy and trade, investment, financial services, technology, and law. In addition to the European and American markets, new investment and trade partners such as ASEAN, the Middle East, and South Asia are bringing new opportunities to Hong Kong. The expansion of the "circle of friends" is enhancing Hong Kong's competitiveness, attractiveness, and development momentum. Under the guarantee of high-level security, Hong Kong is walking on the road of high-quality development, and striving for economic growth, development, and benefiting people's livelihoods has become the consensus of over 7.5 million citizens. Faced with a complex external environment and various risks and challenges, Hong Kong society needs to concentrate, be brave in breaking through, accelerate the promotion of governance and prosperity, stimulate greater economic development momentum, and promote the practice of "one country, two systems" to a higher level. While achieving better development for itself, Hong Kong should make its due contribution to promoting the great cause of building a strong country and national rejuvenation. Raise the sail of confidence, gather the energy to move forward, and the 'Pearl of the East' will surely shine brighter, winning more positive attention and likes, while all the negative voices will dissipate like smoke. (New Society)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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