Exclusive | Hong Kong’s slow economic growth and political divisions were beyond Beijing’s expectations, academics say
Beijing academic Qi Pengfei says city’s development not as smooth as thought, but ‘one country, two systems’ principle remains a success
Hong Kong’s slow economic growth and acute political divisions since the 1997 handover “went beyond Beijing’s expectations”, and state leaders were “anxious” about the city’s diminishing financial role, a scholar and adviser to the central government told the Post.
In an exclusive interview, Professor Qi Pengfei, vice-chairman of the Chinese Association of Hong Kong and Macau Studies, a semi-official think tank, said Hong Kong’s development had not been “as smooth as we thought”, but the “one country, two systems” principle was still a success.
“Originally, it was hoped that through the nation’s grand development strategies, Hong Kong would at least keep its economic prowess ... or play a bigger role,” the Renmin University academic said.
But instead, Qi noted that the country’s leaders had been “anxious” about Hong Kong’s diminishing status as an international financial hub – even though it has been ranked by the Heritage Foundation as the freest economy in the world for many years.
