Xi’s vision for Macau, Hong Kong boon to confidence amid geopolitics: Paul Chan

Hong Kong’s finance chief says president’s speech at inauguration of new Macau administration sums up ‘one country, two systems’

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President Xi Jinping and Macau Chief Executive Sam Hou-fai at the inauguration ceremony held earlier this week. Photo: Eugene Lee

Published: 3:18pm, 22 Dec 2024Updated: 11:47pm, 22 Dec 2024

Chinese President Xi Jinping’s commitment to maintaining the “one country, two systems” governing principle for Hong Kong and Macau has boosted people’s confidence amid a complex geopolitical situation, the finance chief has said.

Financial Secretary Paul Chan Mo-po said Xi’s speech at the inauguration of Macau’s new administration had summarised the unique institutional advantages of the governing system and the practical experience in both cities. The system had successfully achieved “win-win cooperation” between different social systems and was key to maintaining the two cities’ long-term prosperity.

Chan said a good stable system must be maintained for a long time and it also embodied the values of peace, tolerance, openness and sharing.

“In the current complex geopolitical situation, the speech is more positive and makes people more confident,” he said in a weekly blog post on Sunday.

In his speech on Friday after the swearing-in of Macau’s Chief Executive Sam Hou-fai on the 25th anniversary of the city’s return to Chinese administration, Xi underscored the importance of maintaining the one country, two systems principle.

Summarising his vision for the long-term implementation of the governing principle, Xi said Hong Kong and Macau should work on four areas: exploit the advantages of the arrangement; prioritise national security while pushing for high-quality development; boost connectivity both internally and externally; and foster tolerance and harmony.