A former Beijing official revealed on Wednesday that Hong Kong has every potential to achieve "bigger developments" and become more prosperous. And for the city to reach such milestones, it must try to hold fast to Beijing's "one country, two systems" governing principle and use its strength to serve the country's needs.
The said official is none other than Xu Ze, the president of the Chinese Association of Hong Kong and Macau Studies. He was also a former deputy director of Beijing's Hong Kong and Macau Affairs Office.
According to the South China Morning Post, he believes that the "one country, two systems" will help flourish the city, citing China's reform as an example. It is worth noting that this type of system has been implemented in the country since the late 1970's.
Under the principle, the city was guaranteed of a high degree of autonomy, particularly after it was handed over from British to Chinese rule in 1997. It states that the city's so-called "capitalist system and way of life" must remain unchanged for at least 50 years.
During a forum on regional integration and the financial industry in Hong Kong, Xu said that even before the aforementioned principle was officially laid down in the Chinese constitution in 1982, China's late paramount leader Deng Xiaoping had already informed Hong Kong governor Murray MacLehose in 1979 that the city should continue to be a capitalist city following the handover.
"Shortly after [the meeting], the central government set up four special economic zones [in the mainland to seek cooperation with] Hong Kong and Macau, and to attract foreign capital," Xu recalled, about the southern Chinese cities of Shenzhen, Zhuhai, Xiamen, and Shantou.
Yahoo! News reports that Xu also mentioned that it was always China's interest to maintain Hong Kong's potential regarding prosperity and stability.
Xu also said last year that Hong Kong would remain a stronghold and that it would be the main source of the mainland's direct external investment. He added that the latter, on the other hand, would remain the city's biggest trade partner. He then stated that this is "one country, two systems," including China's reform and opening up," has helped in contributing to each other.
He believed that Beijing's Greater Bay Area plan, which was "personally planned by President Xi Jinping" to turn Hong Kong, Macau and their nine mainland neighbors into an innovation and financial hub to rival Silicon Valley, will suggest a similar story.
