Economic upgrades unveiled
August 17, 2011
Vice-Premier of the State Council Li Keqiang has announced a raft of new measures that express the Central Government’s firm resolve to support Hong Kong’s development.
Accompanied by Chief Executive Donald Tsang, Mr Li attended the Forum on the National 12th Five-Year Plan & Economic, Trade & Financial Co-operation & Development Between the Mainland & Hong Kong at the Convention & Exhibition Centre this morning.
Mr Li said the 12th Five-Year Plan, for the first time, contains a separate chapter on the long-term prosperity and stability of Hong Kong and Macau.
It clearly states the Central Government policies that will support Hong Kong’s development and promote cross-boundary co-operation, he said. It fully reflects the principles of “one country, two systems”, “Hong Kong people administering Hong Kong” and “a high degree of autonomy”, and takes into serious consideration the concerns of all sectors of Hong Kong society.
“It is in Hong Kong’s need and China’s need that Hong Kong continues to bring out the unique advantages it has developed over the years and play its irreplaceable role in the Mainland's reform, opening-up and modernisation drive,” he said.
“We have every confidence in the future of China. We have every confidence in the future of Hong Kong. We also have every confidence in the co-operation between the Mainland and Hong Kong. To maintain long-term, steady and rapid economic development, and promote social harmony, is a goal and requirement set out in the 12th Five-Year Plan.
“To maintain Hong Kong’s long-term prosperity and stability is the starting point and objective of the Central Government's policy on Hong Kong. These two long-term goals are closely inter-connected. They bear on the fundamental interests of Hong Kong and the country as a whole, and represent the common aspiration of all Chinese people.”
Mr Li said under the requirements of the 12th Five-Year Plan, the Central Government has adopted a number of new policies and measures designed to support Hong Kong’s development and deepen economic and financial co-operation with the Mainland.
This meets the policy of opening up to Hong Kong first under the "one country, two systems" formula and is aimed at taking Mainland-Hong Kong economic and financial ties to a new high.
New measures
The new policies and measures are, to:
* greatly increase the Mainland’s openness to Hong Kong in the services trade;
* consolidate and upgrade Hong Kong’s standing as an international financial centre;
* support the city in developing itself into an offshore renminbi centre;
* support Hong Kong in its participation in international and regional economic co-operation;
* help enterprises on both the Mainland and in Hong Kong to “go global” together; and,
* give full play to Hong Kong’s important role in Guangdong-Hong Kong-Macau co-operation.
Mr Li said these policies and measures show the Central Government’s firm resolve to support the city’s development.
“Hong Kong’s destiny and prosperity link closely with those of the motherland. Let me reiterate here: the Central Government will exert its utmost to do everything that contributes to the prosperity and stability of Hong Kong and to the common development of Hong Kong and the Mainland,” he said.
“I am confident that in the course of building a moderately prosperous society in China and achieving the great rejuvenation of the Chinese nation, Hong Kong will surely write a fresh and shining page by creating new miracles.”
Mr Li then attended the Signing Ceremony of Mainland-Hong Kong Economic & Trade Co-operation Projects to witness the further strengthening of co-operation in trade and finance between the two places, and launched the third issue of the People’s Republic of China Renminbi sovereign bonds in Hong Kong.
Mr Li’s next stop was a visit to Hong Kong Exchanges & Clearing, where he was greeted by its Chairman Ronald Arculli, and briefed by its Chief Executive Charles Li.
There was an exchange between Mr Li and floor traders during a tour of the trading hall. He was presented with a floor trader’s vest with the number 6632 as a souvenir.
