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Chinese Ambassador H.E. Yang Jian's Remarks at the Reception in Celebration of the 20th Anniversary of the Establishment of the Hong Kong Special Administrative Region
2017/08/28
On 28 August 2017, Hong Kong Economic and Trade Affairs in Jakarta held a Reception in Celebration of the 20th Anniversary of the Establishment of the Hong Kong Special Administrative Region at Radisson Hotel, Bandar Seri Begawan, Brunei. H.E. Yang Jian, Ambassador of the People's Republic of China to Brunei Darussalam, attended the Reception and delivered a speech. The following is the full text.

Remarks at the Reception in Celebration of the 20th Anniversary of the Establishment of

the Hong Kong Special Administrative Region

(28 August 2017, Radisson Hotel)

 

Mrs. Do Pang Wai-yee, Director-General of Hong Kong Economic and Trade Affairs, 

Distinguished Guests,

Ladies and gentlemen,

It is my great pleasure to attend the reception hosted by the Hong Kong Economic and Trade Office tonight, to celebrate the 20th Anniversary of Hong Kong's return to the motherland.

On July 1st, 1997, the Government of the People's Republic of China resumed the exercise of its sovereignty over Hong Kong, which opened a new era of "One country, Two systems".

With the strong support of the central government of China, the Hong Kong Special Administrative Region has maintained prosperity and stability over the last 20 years, with the key economic and social indicators among the best in the world.  As it is shown by the data of the World Bank, Hong Kong's indicators including political stability, government effectiveness, regulatory quality, rule of law and corruption control are significantly higher than those before 1997.  And the global ranking of Hong Kong's rule of law, in particular, jumped from around the 60th in 1996 to the 11th in 2015.  In the Index of Economic Freedom released by the Heritage Foundation of the United States in 2017, Hong Kong is at the top of the list, where it has been staying for 23 consecutive years since 1995.  In the 2017 World Competitiveness Yearbook published by the International Institute for Management Development in Lausanne, Switzerland, Hong Kong takes the first place again among 63 economies.

The central government of the People's Republic of China attaches great importance to the economic development and people's well-being in Hong Kong, and has adopted a number of preferential policies towards Hong Kong.  With the support of the central government, Hong Kong managed to withstand the Asian financial crisis in 1997 and the international financial crisis in 2008.  Between mainland China and Hong Kong, an interconnection Mechanism in Stock Markets Trading was established.  The Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect were launched.  In June 2003, the Mainland and Hong Kong Closer Economic Partnership Arrangement, CEPA, was signed and it came into effect on January 1st, 2004.  Hong Kong is now the world's largest offshore RMB business center. In June this year, Hong Kong became a new member of the Asian Infrastructure Investment Bank (AIIB).  We are confident that, by giving play to its advantages, Hong Kong will play an important role in the Belt and Road Initiative.

"One Country, Two Systems" is a great pioneering undertaking of China, which embodies China's wisdom that values openness and inclusiveness. It is another contribution made by the Chinese nation to world peace and development.  The experience of the last twenty years has shown that the practice of the "One Country, Two Systems" policy is in the interests of the Hong Kong people, and is conducive to maintaining prosperity and stability in Hong Kong.  It is also in the fundamental interests of China.

This year marks the 50th anniversary of ASEAN. The cooperation between Hong Kong and ASEAN has been expanding over the years. ASEAN is now Hong Kong's 2nd largest trading partner as well as the 4th largest export market. We are happy to see that the negotiation of ASEAN-Hong Kong Free Trade Agreement has already been completed, and the agreement is expected to be signed within this year. Last December, Bank of China (Hong Kong) established its branch in Brunei Darussalam, which will strengthen the financial ties between Brunei and Hong Kong.  Today, this reception, being held by Director-General Do Pang Wai-yee, further shows that Hong Kong is willing to promote its exchanges and cooperation with Brunei. We will be happy to see continuous upgrading of the cooperation between Hong Kong and ASEAN countries, including Brunei.

We are confident that, with the firm support of the central government, and with concerted efforts of the government and people of the Special Administrative Region, Hong Kong will have a brighter future ahead.

Thank you!

 

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