Loud and clear message to foreign investors

Hong Kong and Macao Affairs Office director Xia Baolong has been in the news more often recently.

Thankfully, it was not due to the draconian national security law for which Xia - as well as nearly a dozen others - have been sanctioned by the US treasury department, but because of a readiness to meet with visiting business leaders from Hong Kong.

It is obvious that, with the exception of the American Chamber of Commerce in Hong Kong, the rest of the local business community is stepping up efforts to communicate with Beijing through its No 1 point man on Hong Kong matters.

He has had a full month, meeting visiting Swire Pacific director Merlin Swire early on in Shenzhen and CLP chairman Michael Kadoorie last week in Beijing.

And there was a fairly large delegation led by the Hong Kong General Chamber of Commerce consisting of a number of international commerce chambers including those of Europe, Britain, Germany, Italy and Canada.

If the increased engagement did signal something, it would be part of a stepped up attempt by Beijing to assure the international business community that the SAR should continue to be their top choice for doing business in the region.

It is well known that competition between Hong Kong and Singapore has been keener than ever after a number of companies originally based in Hong Kong relocated their Asian headquarters or regional offices to the Lion City.

When American and European politicians cast doubt on the one country, two systems policy that has made Hong Kong stand out from other Chinese cities in the mainland since 1997, it has also become urgent for Beijing officials to double efforts to restore in investors this confidence that is extremely crucial to the city's economic development.

When Swire made a trip to Shenzhen to meet Xia, the latter reportedly praised the company for establishing roots in Hong Kong while reiterating Beijing's commitment to one country, two systems.

As Xia met with the international chambers' delegation led by HKGCC, it was also crystal clear in the message that Hong Kong could contribute to the country because of its pool of international talent, investment and capital.

Is this not also the essence of one country, two systems?

The message was loud and clear.

Economy and investor confidence also underline President Xi Jinping's recent trip to the APEC meeting in San Francisco.

It was reported that Xi had wished to first meet with American business leaders before meeting with his US counterpart Joe Biden at the highly anticipated summit.

Although the meeting with US business leaders at a dinner was eventually scheduled after the Biden-Xi summit, the economy remained China's priority.

AmCham in Hong Kong was reported to have visited Beijing in the middle of this month without speaking to Xia.

Perhaps that was due to political consideration in view of the sanctions - but it will be a sign of the US-China relationship if they are able to meet with Xia in future.

For the time being, it is believed that Beijing will continue to make efforts to woo foreign investors.