Fees slashed to pro­pel GDP growth

Global Times US Edition - - FRONT PAGE - By Chen Qingqing

China and the US will soon re­sume ne­go­ti­a­tions af­ter the two sides agreed to a trade truce at a bi­lat­eral meet­ing on the side­lines of the G20 sum­mit in Japan, send­ing pos­i­tive sig­nals and prompt­ing global mar­kets on Mon­day, show­ing that sound and sus­tain­able bi­lat­eral re­la­tions are widely an­tic­i­pated and welcomed by the global com­mu­nity, official and an­a­lysts said.

Af­ter US Pres­i­dent Don­ald Trump pledged not to add more tar­iffs on Chi­nese prod­ucts and claimed that the trade talks be­tween the world’s two largest economies are now back on track, ma­jor mar­kets surged on the first trad­ing day af­ter the sum­mit. Asia stocks ral­lied on Mon­day as US fu­tures spiked. Both off­shore and on­shore, the Chi­nese yuan surged against the US dollar and oil fu­tures also gained. The Shang­hai stock ex­change gained 2.22 per­cent and closed at 3,044.9, reach­ing

ex­pe­ri­enced some changes and ups and downs in po­lit­i­cal, eco­nomic and so­cial ar­eas. “Yet, Hong Kong has, gen­er­ally speak­ing, re­mained sta­ble and pros­per­ous,” she said.

Un­for­tu­nately, vi­o­lence also emerged. Some pro­test­ers clashed with res­i­dents who gathered to cel­e­brate the an­niver­sary and had also tried to in­ter­rupt the flag rais­ing cer­e­mony.

On Mon­day night, the pro­test­ers smashed win­dows and stormed in, oc­cu­py­ing and van­dal­iz­ing the Legco cham­ber. The pro­test­ers had been spray­ing slo­gans on the walls, dam­ag­ing official por­traits and sym­bols and at­tack­ing sur­veil­lance cam­eras, lo­cal ra­dio RTHK re­ported.

Hong Kong po­lice said they were ready to move in to clear the area around the Legco cham­ber. They se­verely con­demned the vi­o­lent at­tack and also ap­pealed to un­re­lated pro­test­ers to leave the vicin­ity.

Tian Fei­long, an expert on Hong Kong and an as­so­ciate pro­fes­sor at Bei­hang Univer­sity, said “the con­stant vi­o­lence the pro­test­ers have stirred proves that a ma­jor­ity of them wanted to dis­turb Hong Kong. All the rea­sons such as hu­man rights or the ex­tra­di­tion bill are their ex­cuses and their true pur­pose was to cre­ate trou­ble and fur­ther harm Hong Kong’s sta­bil­ity,” Tian said.

Tian said the re­gional gov­ern­ment and po­lice, and the central gov­ern­ment should en­force the law firmly and quickly put down the riot. Oth­er­wise, the con­tin­u­ing tur­moil will se­ri­ously jeop­ar­dize Hong Kong.

De­mand­ing sta­bil­ity

Hung criticized the vi­o­lence. He said that most demon­stra­tors peace­fully ex­pressed their de­mands, but a small group of the rad­i­cal forces, wear­ing masks, paralyzed traf­fic and stormed the Leg­isla­tive Coun­cil Com­plex. They should be pun­ished ac­cord­ing to law.

“They [the vi­o­lent pro­test­ers] were crazy! The HKSAR gov­ern­ment has sus­pended the ex­tra­di­tion bill but they spread ru­mors that the re­gional gov­ern­ment will re­sume dis­cus­sions on it to in­cite res­i­dents. Their ex­treme be­hav­ior also harmed peace­ful ap­pel­lants,” Nixie Lam, a Tsuen Wan dis­trict coun­cilor, told the Global Times, not­ing that protest is about appealing, not demon­strat­ing which is more vi­o­lent.

“The anti-es­tab­lish­ment leg­is­la­tors of Hong Kong have opened Pandora’s Box. They are now in­cit­ing the youth to win votes, which has harmed re­gional peace and sta­bil­ity,” Nixie Lam said.

The Chi­nese For­eign Min­istry on Mon­day slammed in­ter­fer­ence in Hong Kong af­fairs by for­eign forces.

Spokesper­son Geng Shuang said the UK no longer has any re­spon­si­bil­ity for Hong Kong af­ter it re­turned Hong Kong to China on July 1, 1997, and the UK needs to stop “ges­tic­u­lat­ing” about the city.

Geng made the re­marks af­ter the UK said the Sino-bri­tish Joint Dec­la­ra­tion re­mains in force and is a legally valid treaty which it is com­mit­ted to up­hold­ing, a point re­peated by Bri­tish For­eign Sec­re­tary Jeremy Hunt on Sun­day.

On Mon­day, many peo­ple from the Chi­nese main­land also ex­pressed their sup­port for Hong Kong and re­called the glorious mo­ment when China re­sumed its rule over Hong Kong in 1997 on so­cial me­dia plat­forms.

Many ne­ti­zens ex­pressed their hope that Hong Kong will have a brighter fu­ture and the main­land and Hong Kong can be more united and stand closer in the fu­ture.

Busiest fundrais­ing mar­ket

Tian said that the city cannot solve the prob­lem and cre­ate enough op­por­tu­ni­ties by only us­ing its own re­sources, which means the eco­nomic in­te­gra­tion with the main­land is crucial, and that’s why the central gov­ern­ment at­taches great im­por­tant to the Guang­donghong Kong-ma­cao Greater Bay Area strat­egy.

An­a­lysts stressed that as an im­por­tant junc­ture along the route of the Belt and Road and a central city in the Greater Bay Area, Hong Kong will em­brace more op­por­tu­ni­ties. They noted as the re­form and open­ing-up is be­ing pushed for­ward, there will be greater room for Hong Kong to cap­i­tal­ize on its unique ad­van­tages.

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