Hong Kong should use its ‘super roles’ to help nation become financial powerhouse, top Beijing official in city says

Liaison office chief Zheng Yanxiong says city is ‘super treasure bowl’ for amassing capital and ‘superconnector’ aligned with global regulations

City’s status as international financial centre is ‘precious asset and an important component in the country’s efforts to become a financial powerhouse’, he adds

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The remarks from liaison office chief Zheng Yanxiong echoed an earlier call from Chinese Premier Li Qiang for Hong Kong to play to its “strengths”. Photo: Sun Yeung

Published: 1:01pm, 6 Mar 2024Updated: 8:09pm, 6 Mar 2024

Beijing’s top official in Hong Kong has called on the city to draw on its “super roles” as an international financial centre to amass capital, as well as connect with and support investors to help the country become a powerhouse in the sector.

The call from Zheng Yanxiong, director of the central government’s liaison office in the city, on Tuesday echoed an earlier one from Chinese Premier Li Qiang, who used his work report to encourage Hong Kong to “play to its distinctive strengths” and take on the role of better integrating with national development.

“Hong Kong’s status as an international financial centre is not only the city’s signature, but also a precious asset and an important component in the country’s efforts to become a financial powerhouse,” Zheng said.

The official issued the call to action at a meeting in Beijing with Hong Kong delegates to the National People’s Congress (NPC), the country’s legislature, as they reviewed Li’s report.

Zheng Yanxiong, director of the central government’s liaison office in Hong Kong, meets city delegates to the NPC on Tuesday. He emphasised that finance was the lifeblood of the country’s economy. Photo: Handout

“Hong Kong is a ‘super treasure bowl’ that gathers international financial capital, a ‘superconnector’ that aligns international financial rules and also a ‘super support point’ that manages external financial relations,” the liaison office chief said.