Leung urges more economic ties with mainland China and Taiwan
A Beijing official also says Hong Kong is losing its competitive edge
Chief Executive Leung Chun-ying urged Hong Kong business leaders to boost co-operation with the mainland and Taiwan at a financial forum on Thursday.
He acknowledged worries among the business community that Hong Kong might lose cross-strait trade following a trade pact between Beijing and Taipei, but he said the city could benefit as well.
The Economic Co-operation Framework Agreement, implemented in 2010, reduces import tariffs between the mainland and Taiwan.
If the city could think out of the box, further open up and boost co-operation, Leung said, it could make better use of development opportunities.
Echoing Leung’s remarks, a Beijing official said Hong Kong was losing its competitive edge and that its people should be self-reliant.
“Some of Hong Kong’s advantages are weakening. Our neighbouring countries and places, particularly in the Pearl River Delta, are quickly catching up,” said Zhou Bo, deputy director of the State Council’s Hong Kong and Macau Affairs Office.
