Former leader CY Leung calls for Hong Kong to take cue from Shenzhen’s transformation
Shenzhen’s experience offers reference for Hong Kong in areas such as giving up low-end industries in exchange for new ones, Leung says
Leung made the call on Saturday after the recently concluded third plenum of the 20th Central Committee of the Communist Party of China highlighted Beijing’s policy support and goal to enhance Hong Kong’s status as an international financial, shipping, and trading centre.
“Hong Kong should develop a stronger sense of reform … The regional competition from the neighbouring cities is intense,” he said. “And just like the 45 years of reform and opening up on the mainland, Hong Kong should be bolder and faster in pushing for reforms.”
Leung, now a vice-chairman of the country’s top political advisory body, the Chinese People’s Political Consultative Conference, said that as Hong Kong faced numerous challenges in its economic development, Shenzhen’s experience was worth referencing as the mainland Chinese city had also grappled with similar transformation issues.
“The problems we are encountering now need to be addressed through reforms. One of the things Shenzhen has done is a practice known as ‘emptying the cage and changing the bird’,” he said, adding that such a switch could free up land, human resources and capital for higher value-added activities.
“Shenzhen’s achievements over the past 40 years owe much to its bold and innovative reforms. I believe it serves as a good reference for Hong Kong, like giving up such low-end industries in exchange for novel industries.”
