Report on Hong Kong’s Business Environment: Opportunities and Advantages Under New Development Phase
Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities
The Hong Kong Special Administrative Region (HKSAR) Government has released a comprehensive report on the current business environment in Hong Kong, highlighting the unique advantages and unlimited opportunities available in the region. Titled “Report on Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities,” the report assesses the impact of recent events on Hong Kong’s economy and outlines the development opportunities in the new phase of the country’s development.
The report acknowledges the challenges faced by Hong Kong in the past two years, particularly the unrest caused by proposed legislative amendments in 2019. However, with the implementation of the Hong Kong National Security Law in 2020, peace and stability were restored, and the business environment began to recover. The report emphasizes the importance of upholding the principles of “one country, two systems” and the rule of law in maintaining Hong Kong’s institutional strengths.
One of the key factors contributing to Hong Kong’s resilience is its unique positioning as an international financial, trade, and transportation center. The region plays a crucial role in supporting the Mainland’s reform and opening up efforts, making it an attractive destination for high-value-added services.
The National 14th Five-Year Plan aims to accelerate the establishment of a new development pattern that focuses on dual circulation, with the domestic market as the main driver. This presents new opportunities for Hong Kong to further integrate into the national economy and expand its role as an international hub.
Financial Secretary Mr. Paul Chan highlighted Hong Kong’s economic system, which differs from that of Mainland cities, and its status as a highly internationalized cosmopolitan city. He expressed optimism about the future of Hong Kong, citing the stabilization of the local epidemic situation and the opportunities presented by the National 14th Five-Year Plan.
The report also emphasizes the importance of the Guangdong-Hong Kong-Macao Greater Bay Area development, which provides a strategic entry point for Hong Kong to integrate into the national economy. By aligning its development with the Mainland and participating in the Greater Bay Area initiative, Hong Kong can unlock new business opportunities and drive economic growth.
In conclusion, the HKSAR Government is committed to supporting local and overseas enterprises in capitalizing on the new potential for economic development. With a focus on institutional and policy innovation, Hong Kong aims to propel its economy up the value-added ladder and share the benefits of development with its stakeholders.
As the global economic gravity shifts towards the East, Hong Kong is poised to leverage its unique advantages and strategic positioning to seize the opportunities presented by the evolving business landscape. With a strong foundation and a clear development direction, Hong Kong is well-positioned to thrive in the new phase of economic growth.
(Source: Hong Kong Economy website)