Foreign chambers reassured on business environment, common law system

Foreign representatives and business people in Hong Kong were given a shot in the arm as a key representative of Beijing in the SAR promised that a free business environment and the common law system would be maintained here.

The assurances came at a seminar involving Liu Guangyuan, commissioner at the Chinese Ministry of Foreign Affairs in the SAR, that was held yesterday for over 100 representatives of foreign consulates, business chambers and media to explain President Xi Jinping's speech last Friday during his visit to Hong Kong for the SAR's 25th handover anniversary.

Liu said one country, two systems have gained "widely recognized success" as it overcame ups-and-downs over the past 25 years, and he pointed to Xi saying there was no reason to change a good system.

"It's an extremely major boost of confidence for international and local communities that one country, two systems will remain stable," Liu went on.

"Those who are worried about the future of one country, two systems can be relieved, while those who badmouth one country, two systems can take a break."

Liu noted that Xi had also given directions in how the SAR can move forward and guidance on how the new SAR administration can function smoothly.

He called on attendees to grasp major opportunities presented by developments in Hong Kong and the mainland as well as collaboration between them.

"I hope everyone can understand the one country, two systems in a more comprehensive manner and present a vivid and lively Hong Kong to the world," he said. Liu also referred to a Greater Bay field trip being organized for foreign business chambers, but he did not offer any dates.

Speaking after the event, the vice-president of the Italian Chamber of Commerce, Davide De Rosa, said he was "cheered up" because Beijing has confirmed Hong Kong will continue to play the important role as the bridge between the east and the west.

"Hong Kong, with the rule of law, continues with its very successful principle of one country, two systems," he said.

"However, our duty will be much easier if we could have a little bit of reopening of the borders because that is extremely important for Hong Kong to continue forward. We very [much] look forward to ... traveling freely, to continue to help foreign investors come to Hong Kong and China."

David Graham, executive director of the British Chamber of Commerce, said Xi's messages reinforcing Hong Kong as an international financial, trading and shipping hub as well as the consolidation and maintenance of common law were positive and important.

"We take a lot from the messages signifying and solidifying the role of Hong Kong as part of China going forward," he said.

"We'd love to go and visit the [Greater Bay Area], and something the international chambers have been talking about a lot is that in order to realize the opportunities and the business opportunities in Hong Kong we need to get the borders open, including the mainland border."