Opinion | Consolidating advantages to move towards prosperity

By Christopher Chuang

Under the system of "One Country, Two Systems," Hong Kong has weathered storms and still shines brightly, achieving significant accomplishments in various fields such as politics, economy, society, and culture, showcasing a vibrant momentum from governance to prosperity. Looking ahead, Hong Kong will continue to maintain its unique advantages and charm, making greater contributions to the prosperity and rejuvenation of the country and the great rejuvenation of the Chinese nation.

In terms of politics, under the framework of "One Country, Two Systems," Hong Kong maintains a high degree of autonomy and a unique legal system, safeguarding not only the basic rights and freedoms of Hong Kong residents but also laying a solid foundation for the prosperity and stability of the city. In recent years, the SAR government has been proactive in improving the electoral system and regional governance, implementing the principle of "patriots administering Hong Kong," effectively enhancing the administration capacity and efficiency of the SAR government.

Economically, as one of the world's most important financial centers, Hong Kong's economic standing continues to rise steadily. Data shows that in 2023, Hong Kong's GDP reached HK$383.5 billion. Since returning to the motherland, Hong Kong's trade with the mainland has grown 3.8 times in the 27 years, this deep cooperation not only drives continued economic growth in Hong Kong but also further solidifies its position as an international trade center.

In terms of society and livelihood, Hong Kong has made significant progress in housing, healthcare, and employment. In recent years, the SAR government has increased investment in public housing construction, with an expected completion of 9,500 "light public housing" units by 2025, providing more housing options for citizens. Additionally, Hong Kong's healthcare facilities are continuously improving, with the first traditional Chinese medicine hospital set to gradually begin services in 2025, offering more diverse medical services to citizens. Furthermore, the job market in Hong Kong shows positive development, with the median income for employed individuals "rising against the trend," indicating the resilience and vitality of Hong Kong's labor market.

In the field of education, Hong Kong's education system is highly acclaimed, with its higher education levels internationally renowned. Data shows that Hong Kong's universities rank fifth globally, attracting a large number of international students for studies. Meanwhile, the SAR government actively promotes educational reforms to enhance educational quality and provide more comprehensive educational services to students. The Hong Kong Diploma of Secondary Education (HKDSE) qualifications are widely recognized overseas, with around 600 foreign higher education institutions accepting HKDSE qualifications, including universities from the UK, Australia, Canada, and the US, providing students with broad opportunities for further studies.

In terms of youth development, the SAR government and various sectors of society attach great importance to the growth and development of young people. By implementing talent programs and policies to attract global high-tech and talented individuals to Hong Kong, the economy and society have injected new vitality. Additionally, Hong Kong actively promotes youth innovation and entrepreneurship, providing young people with more opportunities and platforms for development.

Regarding housing, in recent years, the SAR government has also increased efforts to regulate the real estate market, boosting the property market further through measures such as relaxing residential mortgages and allowing investment immigrants to purchase residential properties. Data shows that in 2024, the Hong Kong property market transactions reached a near three-year high, with a total of 67,979 overall property sale and purchase agreements registered, marking a 17.1% increase compared to the same period in 2023. This growth not only provides more housing choices for citizens but also promotes the healthy development of the real estate market.

Culturally, as a point of convergence between Eastern and Western cultures, Hong Kong's cultural diversity and inclusivity are fully demonstrated. In recent years, Hong Kong has vigorously developed the cultural and creative industries, promoted the deep integration of cultural industries and technology, and nurtured several internationally influential cultural brands. Additionally, Hong Kong actively hosts various cultural events and art exhibitions, attracting cultural professionals from around the world for exchanges.

In the future, the SAR government and various sectors of society must deepen reforms, use new thinking to solve new problems, and discover new paths with new methods. In resonance with the high-quality development of the country, efforts will be made to propel various aspects of Hong Kong's development to new heights.

The author is the chairman of the Greater Bay Area Fintech Promotion Association and a National Committee Member of the Chinese People's Political Consultative Conference.

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