HK must consolidate international financial center status as mainland has high hopes for the city: John Lee

Chief Executive John Lee Ka-chiu stressed that the mainland has high hopes for Hong Kong to usher in quality financial development and the city has to consolidate and enhance its position as an international financial center.

Speaking at the "International Forum on China's Economy and Policy" organized by the Chief Executive's Policy Unit, the Chinese Institute of Hong Kong and the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, Lee said Hong Kong will keep utilizing its advantages to preserve a high level of globalization while proactively integrate into national development.

The Hong Kong leader added that the government will strive to adopt an industry-oriented approach as the policy priority to forge a better integration of a capable government and an efficient market, as well as develop new focuses of economic growth such as innovation and technology, pharmaceutical research and development, and new-energy transport industries.

In a speech at the same Forum, Hong Kong Liaison Office's director Zheng Yanxiong quoted President Xi Jinping as saying that the long-term prosperity and stability of Hong Kong is part and parcel of building a strong China. 

He added that the upcoming District Council election and the push for local legislation concerning Article 23 of the Basic Law would create a more stable and secure development along with the investment environment for Hong Kong. 

The country's high-quality development has set new and higher goals for Hong Kong and Macau to better integrate into the overall national development, and it also presents enormous opportunities for the SARs to achieve their own high-quality development, according to the president of the Chinese Association of Hong Kong and Macao Studies Deng Zhonghua who spoke at the meeting.

He said that Hong Kong has to strengthen the offshore RMB market development and the financial market connectivity in the Greater Bay Area in order to act as a "super-connector" bridging mainland and global markets under the Belt and Road Initiative.