Hong Kong’s John Lee vows to retain global connectivity, bank on strengths as ‘open, international city’ to drive growth in Greater Bay Area
- Chief executive makes speech at forum, where former head of China’s central bank says city’s financial hub status not challenged by worsening US ties
- Lee also expresses gratitude to Beijing for its support for city in overcoming pandemic challenges and financial crises
The city’s leader underscored his commitment to retaining global connectivity at a financial forum on Wednesday, even as former Securities and Futures Commission chairman Anthony Neoh became the latest to join a chorus of concern Hong Kong could lose its competitiveness under its stringent Covid-19 travel restrictions.
But a former head of the nation’s central bank argued that an expected increase in mainland Chinese investment in Hong Kong would make the city more competitive, adding its role as an financial hub would not be easily undermined by the country’s worsening relations with the United States.
Lee reaffirmed at the seminar, titled “Phoenix Financial Forum for the Greater Bay Area” and hosted by Phoenix TV, that Hong Kong could play a key role in Beijing’s ambitious plan to integrate it with Macau and nine mainland cities, forming an economic powerhouse by 2035.
“As a highly open, international city in the Greater Bay Area, an international hub in finance, logistics, trade and aviation, alongside its world-class professional services and its unique edge brought by the ‘one country, two systems’ principle, Hong Kong certainly has the ability to play an important role in Greater Bay Area development,” he said.
“The next five years are critical for Hong Kong to take new leaps,” Lee said. “We will promote economic development, and facilitate industries where Hong Kong enjoys advantages to further develop in the bay area.”