Less than a month before the first anniversary of the 500,000-strong July 1 rally, Hong Kong is overwhelmed by deep anxiety and a loss of direction about its future. Today, more than 300 prominent professionals, academics, executives of non-governmental and business organisations are publishing a joint appeal to defend Hong Kong's core values. In the newspaper advert, they claim that the critical moment has come for every individual and organisation to speak up. The appeal comes three days after 82,000 people attended a candle-light vigil in commemoration of the Tiananmen Square deaths 15 years ago. This was the highest turnout in the special administrative region's short history. As well as remembering the victims, many turned up to express their fears about the erosion of civil liberties and vent their frustration over Beijing's suppression of democratic aspirations. No doubt, these factors will ring alarm bells for both the Tung administration and the central government over the simmering public discontent in Hong Kong, which has increased over the past seven years, particularly since last July 1. Even if fears about freedom of speech that prompted many ordinary people to turn up on Friday were more perceived than real, the joint call for the defence of core values certainly reflects the deepening anxiety among the educated, articulate middle class. The statement does not point the finger of blame at any specific policies or decisions made by the Hong Kong and central governments. Instead, the group voiced fears about the loss of the core values that make Hong Kong tick, including freedom and democracy; human rights and the rule of law; harmony and love; honesty, trustworthiness and transparency; and pluralism and tolerance. Hong Kong's unique status and important role in the modernisation of China will be lost if these values are eroded away, the group claims. Although the signatories have refrained from blaming the Tung administration, it is clear that they no longer believe it can be entrusted with the mission of defending society's core values. Many people believe that under Chief Executive Tung Chee-hwa, the government has actually done more harm than good during the past seven years when it comes to the preservation of Hong Kong's systems and values. With growing friction in society during times of political and economic change, the government has not only failed to mediate in such disputes, it has actually aggravated social divisiveness because of its prejudiced view of political dissent. This inability to govern effectively has, ironically, invited the central government's interference. Over the past year, Beijing's visible and invisible hands have been at work. As a result, the lines between the two systems have become increasingly blurred, casting a long shadow over the integrity of the core values and culture of Hong Kong. If anything, the controversy over talk-show host Allen Lee Peng-fei's decision to quit, because of perceived pressure from Beijing, speaks volumes about the sensitivities and contradictions when the two different cultures interact. The core-values campaign could also be seen as a veiled reminder to leaders in Beijing to rethink their overall approach to Hong Kong. The signatories, the 82,000 who went to Victoria Park on Friday, and many more people in Hong Kong are acutely aware of the importance of speaking up about the things that they cherish before it is too late. Chris Yeung is the Post's editor-at-large