Hong Kong has nothing to fear from surging Shenzhen, officials say, though city must remain proactive, seize opportunities
- Finance secretary, former chief executive among those urging residents to seek ways to maintain edge in wake of speech by President Xi Jinping
- New initiatives for mainland neighbour, meanwhile, suggest an increased emphasis on areas for which Hong Kong has long been known
Hong Kong still has a significant role to play in China’s future goals, senior officials have declared, even as surging Shenzhen has been marked as an innovation powerhouse and model of economic reform by the country’s leader.
But former chief executive Leung Chun-ying – now vice-chairman of political advisory body the Chinese People’s Political Consultative Conference – stressed that Hongkongers must take a more proactive role rather than wait for opportunity to knock.
Financial Secretary Paul Chan Mo-po added Hong Kong should stay vigilant in maintaining its edge and be willing to ask itself if it was keeping pace with mainland China’s rapidly expanding economy.
The positive tone set by Leung and Chan comes amid concerns that Hong Kong could find itself marginalised after President Xi Jinping hailed Shenzhen’s role as an “important engine” of the Greater Bay Area project during a Wednesday speech that lavished praise on the southern Chinese city as it celebrated the 40th anniversary of its special economic zone.
Four days after Xi’s visit, state planning agency the National Development and Reform Commission followed up on Sunday by revealing 40 initiatives aimed at empowering Shenzhen as a pilot zone for further economic reform.