Connect with us

Business

Carrie Lam is optimistic about Hong Kong’s better integration into national development

Adam Layaan Kurik Riza

Published

on

Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), stated Monday that Hong Kong needs to comprehend the broader planning of the country, establish its own position within it, and better fit into national development while honing its advantages.

Hong Kong’s future development will undoubtedly be bright, and its strongest advantage will be “one country, two systems,” Lam said in a joint interview with numerous media sites here.

According to her, Hong Kong’s economic progress in recent years has been more of a political issue than an economic one.

However, “now we have a very good start,” Lam said, citing the enactment of Hong Kong’s national security law, advancements to the electoral system, the 14th Five-Year Plan (2021-2025) for national socio-economic development, and a recently released plan for further improving the Shenzhen-Hong Kong cooperation zone in Qianhai.

“We are hopeful that Hong Kong will be more integrated into the country’s overall development in the future,” she said.

The five-year plan includes a chapter highlighting strategies to help Hong Kong improve its status as a global financial, shipping, and trade hub, expand its offshore renminbi business, wealth management, and risk management, become a legal and dispute resolution center, and move toward high-end, high-value-added services.

Lam, in particular, emphasized Hong Kong’s financial prowess. “We have no fear of slander,” she stated. “We must consider the fact that many international financial institutions have confidence in Hong Kong…and we have seen numerous financial institutions decide to grow their presence in Hong Kong.”

In addition, the five-year plan pushes Hong Kong to grow aviation, innovation and technology, intellectual property commerce, and international cultural and art exchanges.

Lam believes that Hong Kong should have a long-term vision in order to connect its strategies with national development.

While malicious filibusters in the Legislative Council (LegCo) previously hampered the operation of the HKSAR government, Lam believes that this year’s revisions to Hong Kong’s electoral system by the central authorities will make the future legislature rational, balanced, and with broader representation.

She stated that the HKSAR administration will plan Hong Kong’s development for the next 10 to 20 years.

The HKSAR will have a new term of LegCo and government in the near future, but Lam is unconcerned about policy continuity, stating that policies that benefit Hong Kong residents will be adopted by every government term.

Lam also highlighted the potential for the growth of the Guangdong-Hong Kong-Macao Greater Bay Area, particularly the new Qianhai plan and the recently launched cross-border wealth management program in the Greater Bay Area.

The collaboration with Shenzhen allows Hong Kong to have a bright future in growing technology and innovation, and the Qianhai plan, which includes a larger opening to Hong Kong’s services, also provides enormous prospects, according to Lam.

She believes that the Hong Kong-Shenzhen twin-city relationship is unique and will continue to evolve over time.

To capitalize on the prospects, Lam urged efforts to improve transportation infrastructure, policy alignment, and collaboration mechanisms between Hong Kong and Shenzhen, as well as to reinforce Hong Kong residents’ national identity.

According to her, the extended Qianhai will gather Hong Kong compatriots and encourage patriotism.

 

Source: Xinhua News Agency

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Treetop hospital giving scholarships to nursing students who finish from Villa College.

Avatar

Published

on

By

Treetop hospital gives scholarships to nursing students of villa College to finish their coursework.

Treetop hospital announced that they have decided on this scholarship as a way to motivate students to get higher studies in the medical field. Treetop hospital stated that nursing is an important component of the medical field and they want to raise awareness about it and motivate them more. Students who have done nursing diplomas and undergraduate degree courses will be eligible for this scholarship.

The due date to apply for this scholarship is before September 23rd before 17:00. The scholarship is only open for Maldivian students who are not under any other scholarship when applying. Students who are currently studying, or newly joining villa College will also be eligible to apply for the scholarship before the due date.

Continue Reading

Business

HDFC selling 200-million-rufiyaa Sukuk.

Avatar

Published

on

By

Housing Development Finance Corporation (HDFC) is ready to sell 200-million-rufiyaa Sukuk to get funds for housing-related finance issues.

According to HDFC, it’s been decided that they will sell 1 Sukuk for 1000 rufiyaa. HDFC aims to sell 2 lakh slots of Sukuk. The company will be selling Sukuk worth 2 million rufiyaa, with the persons who buy them to gain 65% profit each month, for 10 years. This is being sold by being registered under the stock exchange.

HDFC noted that Sukuk is being sold so as to expand their services and to conduct investments that fit Islamic sharia laws. This is the 4th time that HDFC is selling Sukuk. HDFC made a profit of 250 million rufiyaa from the previous sales of Sukuk.

Continue Reading

Business

With the help of BML, a new community library established in R. Fainu

Avatar

Published

on

By

Under the Bank of Maldives community service fund, a new public library has been opened in the R. Fainu community center.

With the help of a non-profit body, Fainu Association for Community Endeavors (FACE), BML has established this library in Fainu community center. BML stated that the reason for this project is to grow the love of literature in locals and to build an education society. There is a computer lab built inside the library as well. BML informed that there are 3 computer systems in the library for students to do homework or research projects if needed.

Speaking about this, FACE organizations president Hussain Waheed noted that this public library and computer lab will benefit students who need help with homework, and other students who are studying online courses, and it will be helpful to find reference materials.

BML’s community fund is open to financially help any non-profit organization or person to complete any project they need to benefit the community of that island.

Continue Reading

Trending