We must integrate with China’s trade plans, Hong Kong leader Carrie Lam warns lawmakers – or risk losing out

In a veiled reference to financial sector, chief executive also says city must establish new drivers of economic growth, rather than continuing to rely on traditional pillars

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Carrie Lam at the Legislative Council. Photo: Sam Tsang

Published: 6:51pm, 3 May 2018Updated: 8:51pm, 3 May 2018

Hong Kong leader Carrie Lam Cheng Yuet-ngor has urged lawmakers to support the city’s integration into China’s trade and economic strategies, and oppose any move that seeks to challenge national security.

The chief executive also warned that Hong Kong must establish new drivers of economic growth, rather than continuing to rely on traditional pillars, in a veiled reference to its financial industry.

“Hong Kong must not wait for its luck to come, we need to reinforce the industries [that we are good at], establish new economic [drivers] and strengthen our external links,” she said during a 90-minute question-and-answer session at the Legislative Council on Thursday morning.

In her opening remarks, Lam said she was glad that legislators who took part in a study tour to five cities in Guangdong province last month found the visit “pragmatic and constructive”.

One of Hong Kong’s core economic pillars is the financial sector. Photo: Sam Tsang

The delegation, made up of 32 lawmakers from across the political spectrum and four ministers, was in mainland China to understand more about Beijing’s “Greater Bay Area” plan, which aims at integrating Hong Kong, Macau and nine Guangdong cities into an economic powerhouse that rivals Silicon Valley.

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