律政司主辦的《基本法》法律論壇 - 本固枝榮

很榮幸受邀出席由律政師主辦的《基本法》法律論壇 - 本固枝榮。在論壇上，我有幸與專家學者們分享香港在基本法和一國兩制的加持下有何特別之處，以及大灣區的發展機遇。

以下是我在論壇的發言講稿 :

Good afternoon, The Honorable Teresa Cheng the Secretary for Justice, and ladies and gentlemen.

I am pleased to be invited to attend today’s seminar, and I am honored to share my views and opinions with experts and academics about why Hong Kong is such still a unique place under the blessing of the Basic Law and One Country Two Systems and the development opportunities in the Greater Bay Area.

Basic Law and Hong Kong

First, regarding the Basic Law, the most important legislative intent of the Basic Law clearly reflects from Article 5 of the General Principles Chapter under which it states that "The socialist system and policies shall not be practiced in the Hong Kong SAR, and the previous capitalist system and way of life shall remain unchanged for 50 years”. Simply speaking, it is the policy of “one country two system” together with the spirit of “smooth transition”.

For the former one, it means that under the principle of “one country”, the socialist market economy will not be practiced here so as to grant Hong Kong SAR the greatest freedom in economic development. Such freedom is even greater than the autonomy of Scotland and Northern Ireland enjoying within the UK sovereignty. In fact, in accordance with Article 13 of the Basic Law, the Central People's Government shall be responsible for the foreign affairs relating to the Hong Kong HKSAR. And, meanwhile, the Central People's Government also authorizes the Hong Kong SAR government to conduct relevant external affairs on its own in accordance with the Basic Law, which is clearly stated in Article 151 that allows Hong Kong, using the name of Hong Kong China, to maintain, to develop and to implement agreements with foreign states and regions, as well as relevant international organization in the name of economic development.

In respect of the later, it promises the continuity of the existing public administrative system and way of livings of people in Hong Kong, in particular the principles of market economy of capitalism and the spirit behind.

The two important founding principles of capitalism are (a) Freedom of Contract; and Protection of Personal Properties. As a whole, one would notice that in relation to economy, the formulation of the articles contained in the Basic Law in fact focus around two sectors: freedom and protection.

Starting from the economic perspective, the most important provisions therein should be Articles 6 and 105 which respectively guarantees the protection of personal properties and; ownership and foreign investments of corporations.

Regarding the matter of freedom, it is further fortified by Chapter 5 Economy of Basic Law that promises of trade freedom have been provided to the greatest extent. For example, operation freedom of monetary and financial businesses under Article 110, freedom of foreign exchange under Article 112 and the continuity of the free trade policy under article115, in particularly the tariff-free policy would remain so as to maintain Hong Kong’s free trading port status.

In simple words, it is to keep those principles and policies all along being adopted by the government before 1997 intact. Apart from the continuous application of common law and legal system as stipulated in Article 8, such principle of continuity has been succinctly recited and analyzed in the recent Court of Final Appeal case FACV 6-9/2020.

The mere fact of containing articles facilitating operation of businesses in the Basic Law does not suffice, a practical implementation of this legislative intention is also very important. In fact, the success of the implementation of Basic Law depends much on the insistence by the Hong Kong SAR on maintaining an independent judiciary who has been highly praised worldwide for the upholding of the principle of Rule of Law; a corruption-free and efficient public administration; and a stable and secured social environment.

We should understand that everything about the One Country Two Systems policy proposed by the Central Government to resolve the issue of Hong Kong, Macao and realize the peaceful reunification of the country are people-centered. Indeed, the Central Government has emphasized repeatedly over the time that the government of HKSAR has the responsibility and obligation to develop its economy and improve people’s livelihood and the city’s prosperity. It is perceivable from the special policies practiced by the Central Government in Hong Kong and the high degree of autonomy granted by the Basic law that one of the key purposes is to make the life of Hong Kong residents better and even better after the reunification with the motherland, not the other way around.

In addition to the greatest support by our country, Hong Kong SAR on one hand can serve as a bridge between the eastern and western culture, our nation and the western world; on the other hand, we act as a gateway for the foreign enterprises who want to establish business in the mainland. Such unique arrangement and collaborating effect shape the unique financial and economic status of HKSAR.

China Resources and Greater Bay

Regarding the Greater Bay, generally speaking, there is a certain consensus in Hong Kong on the development of the Greater Bay Area, believing that it can open up new room for development and add new impetus to Hong Kong. However, in the face of the unstable global situation and the increasingly common phenomenon of anti-globalization, we need to have a deeper understanding of the international situation, so that we can think more about how Hong Kong can give full play to its own strengths and link its development direction closely with the country.

In my view about the role of China Resources, as Guangdong, Hong Kong and Macao deepen their cooperation and the construction of the Greater Bay Area continues to progress, it is expected that the demand for professional services from enterprises in the Greater Bay Area and other regions will definitely increase. Hong Kong should take up the important role of "Going out" for Mainland enterprises and become the preferred platform for enterprises in the Greater Bay Area to expand their business overseas.

Indeed, China Resources had already pioneered the “Go out, bring in” model of enterprise cooperation long before the handover. China Resources started the contract processing business in the Shenzhen area and provided Hong Kong companies with the necessary means to open up the Mainland market. Over the past decades, China Resources has placed great emphasis on the industrial sector, and has now formed a huge business portfolio covering six major business sectors. We believe that our diversified business scope and excellent management capabilities will serve as an important industrial platform for the development and cooperation of various industries in the future.

At this juncture, I believe that Hong Kong and the Greater Bay Area are presented with a historic opportunity, China’s major strategic judgement of a double cycle and the long-term forces of change brought about by the long-standing changes in the international political and economic situation. To explain this issue, we must first clarify and correct an understanding. China’s remarkable economic construction and achievements over the past 30 years have been based on the introduction of global technology, capital and markets. In the future, China will definitely go out more deeply and will establish deeper economic links with other countries around the world that need technology, capital and markets.

Nowadays, with the opening of the double cycle and development of China’s more profound “Going out”, Hong Kong will also have the strategic opportunity to serve China’s going out and to serve a deeper, more efficient and fairer globalization. Obviously, we may be surrounded by the trade dispute between the US and China or the wave of anti-globalization, but we must believe that globalization is a global trend, and that it is only a small adjustment and wandering in the development path of globalization. In such a process, recognizing a new and significant historical opportunity and finding a place for Hong Kong and the Greater Bay Area in it will give us the next strategic and systemic opportunities. I firmly believe that this opportunity is for Hong Kong and the Greater Bay Area to intergrate deeply, and for Hong Kong to become bridgehead for China to “Go out”.

Compared with the world’s three largest bay areas, the Greater Bay Area is the only de facto regional development community where “Two Systems” under the One Country principle is well implemented. Hong Kong should make good use of the advantages of the "One Country, Two Systems" system to serve the needs of the country with Hong Kong's strengths, create broader development prospects and write a brand-new chapter in regional cooperation.

Conclusion

I, as an academic scholar, a lawmaker and a professional from commercial sector, gives me the ability to understand the value of the Hong Kong’s special status and attractiveness. We have to treasure such precious opportunity under the framework of the “one country, two system” as provided in the Basic Law; the Great Bay Development together with the “Belt and Road Initiative”. Relying on our independent judiciary, efficient public administration and social and political stability, we can strike to attain to a new level as an international metropolitan for financial trading, a regional hub for dispute mediation, arbitration and settlement; and a center for creative innovations. Promotions should be carried out internationally to strengthen such role of the HKSAR in order to attract more foreign investments in future.

Thank you.