Premier Li Keqiang pledges Hong Kong-mainland bond market link as Beijing vows support for city
Premier says Beijing’s backing for city won’t wither, but he warns against ‘distorting’ one country, two systems
Premier Li Keqiang pledged to enhance support for Hong Kong by establishing a bond market connect scheme between the city and the mainland this year, as he stressed the importance of implementing the “one country, two systems” principle in its entirety.
The scheme, the country’s No 2 official said, would enable Hong Kong to maintain its status as an international financial centre and ensure long-term prosperity and stability.
“The principle of one country, two systems needs to be perceived and implemented in its entirety. As I have said in the government work report, this principle needs to be steadfastly applied in Hong Kong without being bent or distorted,” Li said at a press conference inside the Great Hall of the People on Wednesday.
He made the remarks after a reporter asked him about his work report, released earlier, which stated that the notion of Hong Kong independence would “lead nowhere”. He was asked if that meant the central government would change its policies towards Hong Kong or emphasise “one country” more and downplay “two systems”. The premier was also asked if Beijing would support Hong Kong as strongly.
“The central government will continue to enhance its support for Hong Kong’s development and will introduce more steps in the interest of Hong Kong’s development and cooperation between the mainland and Hong Kong,” Li said.
Following the establishment of the Shenzhen-Hong Kong Stock Connect last year, Li said Beijing was “actively considering” a bond market link. It would allow overseas capital to access the mainland’s bond market, he said.
