Chinese Vice-Premier He Lifeng urges Hong Kong to be ‘self-assertive’ on 3 paths to reform
State leader says city should deepen financial reforms, expand cooperation and opening up and dovetail with national developments
Chinese Vice-Premier He Lifeng has pledged Beijing’s backing for Hong Kong to strengthen its standing as an international financial centre, urging the city to be self-assertive amid geopolitical uncertainties and to press on with reforms as he set out three directions to unleash its full potential.
Opening the three-day Global Financial Leaders’ Investment Summit on Tuesday, the state leader spelled out three areas of focus for Hong Kong’s financial sector. First, it should deepen reforms and innovate to boost competitiveness; second, expand cooperation and opening up; and third, dovetail its plans with national developments to further strengthen the foundation of Hong Kong’s future financial development.
“The unprecedented changes in the world are accelerating. Global political and economic landscapes are undergoing profound adjustments. There are more and more variants and uncertainties,” he said.
“Regardless of how the external environment changes, we will focus on ourselves. We [will] respond to external uncertainties with self-assertiveness.
“It is hoped that Hong Kong will make use of this critical period, understand changes accurately, respond to them scientifically, and seek them out proactively.”
He added that Hong Kong should embrace and uphold the “Lion Rock Spirit”, a reference to a well-known symbol of the city’s resilience.
“Be enterprising, work hard for continuous enhancement in financial development, and continue to consolidate and enhance [the city’s] status as an international financial centre,” he said at the landmark industry summit for the world’s top financial leaders.
