Aiming higher for a better future

President Xi’s words offer inspiration to HK society to strive for greater accomplishments

Step up, Hong Kong. A new age has arrived. This is the message that President Xi Jinping imparted to Hong Kong residents on his two-day trip to the special administrative region for the celebration of the 25th anniversary of its establishment and the inauguration of its sixth-term administration.

The blissful moment of President Xi and his wife Peng Liyuan’s second visit to the SAR has encouraged patriots in the city, especially the youth, to aim high and play big by leveraging the territory’s traditional strengths and its unique status.

Many residents experienced a touching moment on the eve of the celebration when Xi, in his arrival speech at West Kowloon railway station, said his heart was “always with Hong Kong compatriots”.

Being fully aware of the severe challenges in the past few years, Xi voiced his appreciation that the city, with its remarkable resilience and amazing creativity, has weathered several crises, adhered to the “one country, two systems” principle, and stood tall in confronting hostile forces from home and abroad. “After these ups and downs, Hong Kong has risen from the ashes and showed its strong vibrancy” — the president’s remarks ring true.

Xi summarized the exercise of “one country, two systems” in the past 25 years into four points — fully and accurately implementing “one country, two systems”; ensuring the central government’s overall jurisdiction while securing the SARs’ high degree of autonomy; implementing the principles of “patriots administering Hong Kong”; and maintaining Hong Kong’s unique status and advantages.

The resilience and vibrancy of “one country, two systems” despite the numerous challenges it has encountered during the past 25 years attest to the central government’s strong support for Hong Kong and its commitment to the full implementation of the policy.

“One country, two systems” is now a proven success, as Xi declared in his July 1 speech. It has withstood the sabotage of the subversives, overcome numerous hurdles, and demonstrated resilience and vitality. With the institutional foundation further strengthened by the major improvements initiated by the central government over the past two years, Hong Kong should now aim high and play big in national development and rejuvenation by putting its strengths to better use.

The local community must have felt encouraged by the inspiring words of Xi, who demonstrated his sincere care for Hong Kong residents and expressed the central government’s unreserved support for the SAR’s new sixth-term governing team, raising the people’s confidence in the city’s future.

It was a blissful moment for Hong Kong residents when Xi reassured that the motherland will continue to give the SAR strong backing. The promulgation of the National Security Law for Hong Kong and the revamp of the city’s electoral system are the most recent examples of the central authorities’ unreserved support for Hong Kong.

Rewind to 1997 and 2008, when the central government also came to Hong Kong’s rescue, bailing the city out of the Asian financial crisis and the global financial tsunami. As part of the bailout effort in 2003, the Closer Economic Partnership Arrangement between Hong Kong and the Chinese mainland was made, which immensely boosted the local economy with the huge consumption and spending of droves of mainland visitors.

To strengthen Hong Kong as a global financial center, the central government approved the establishment of the Shanghai-Hong Kong Stock Connect and the ShenzhenHong Kong Stock Connect, which facilitated total daily turnover of over HK$42 billion ($5.35 billion) last year. The proportion of mainland firms listed in Hong Kong has soared rapidly since 1997, accounting for over 50 percent of the total number and 77 percent of the total market capitalization as of April.

Xi’s guarantee of the continuity of “one country, two systems” as well as his reaffirmation, in his July 1 speech, of the central government’s steadfast support for Hong Kong are encouraging to Hong Kong residents, who must appreciate the State leader’s suggestion that great opportunities emerging from national development will be available to Hong Kong residents as the SAR further integrates its socioeconomic development with national development.

Xi also showed his care for the city’s young people, encouraging them to make the most of their lives by serving the city while embracing their national identity.

As the president suggested, the next five years, or the tenure of the sixth-term government, will prove to be a watershed for the city’s development. If the new administration can significantly strengthen its governing capabilities and efficiency, Hong Kong will overcome the challenges ahead to ensure better prospects.