Think tank can make constructive proposals for well-being of Hong Kong
President Xi Jinping gave the nod for the Shanghai-Hong Kong Stock Connect to commence last Monday. Although it has got off to a slow start, what makes this scheme important is that it is the first major step in China's opening up its tightly controlled capital markets to the world.
Following Chief Executive Leung Chun-ying's assurance that the Hong Kong administration had the Occupy Central and the student protest situation under control, President Xi Jinping gave the nod for the Shanghai-Hong Kong Stock Connect to commence last Monday.
Although it has got off to a slow start, what makes this scheme important is that it is the first major step in China's opening up its tightly controlled capital markets to the world.
What is also important is that the firm manner in which the Hong Kong government handled Occupy Central and the student unrest has led to the strengthening of the city's economic and political links with the mainland and the central government.
Furthermore, the setting up of the Our Hong Kong Foundation by Tung Chee-hwa, Hong Kong's first chief executive, and currently a vice chairman of the National Committee of the Chinese People's Political Consultative Conference, could not have come at a more propitious time.
Many Hong Kong people think Mr Tung cares about the country and about Hong Kong. And in many ways the new foundation should be able to support the administration and come up with constructive proposals for the well-being of Hong Kong people and the city's growth and prosperity.
The setting up of the foundation no doubt has the blessing of the central government.