WORDS BECOME ACTIONS

President Xi Jinping’s inspection of Hong Kong last year marked a milestone in the relationship between the mainland and the special administrative region, initiating a new phase in mainland-Hong Kong cooperation and exchange on all fronts.

On July 3, 2017, northbound trading on the Bond Connect scheme commenced, which lets investors from Hong Kong and other regions deal in the mainland’s interbank bond market.

The three main new infrastructure projects linking the mainland and the city — the Hong Kong-Zhuhai-Macao Bridge, Guangzhou-Shenzhen-Hong Kong Express Rail Link and Liantang/ Heung Yuen Wai Boundary Control Point project — will all officially go into operation or be finished this year, streamlining the movement of people and vehicles.

Xi instructed that Hong Kong research institutions and universities can apply for national funding, underlining science and technology cooperation. The Legislative Council also approved initial funding for the Lok Ma Chau Loop Hong Kong-Shenzhen Innovation and Technology Park in May. Alibaba Group, SenseTime and Hong Kong Science and Technology Parks Corporation also jointly established the HKAI Lab in May.

Additionally, the groundbreaking ceremony for the Hong Kong Palace Museum was held on May 28.

The Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region also made efforts to walk hand in hand with the city and develop closer ties with local residents and communities over the past year.