This morning, Hong Kong hosted the signing ceremony for the Convention on the Establishment of the International Organization for Mediation (IOMed), a landmark international occasion. Foreign Minister Wang Yi attended the ceremony and praised Hong Kong in his address.
He noted that Hong Kong's return to the motherland itself stands as a successful example of the peaceful resolution of international disputes, and the achievements of the "one country, two systems" principle have brightened the prospects for Hong Kong's prosperity and stability.
Facts have proved that our country has successfully resolved the Hong Kong issue through diplomacy negotiations precisely by the direction pointed out by the idea of "one country, two systems" put forward by Deng Xiaoping, and the reunification of Hong Kong with the motherland on July 1, 1997, after a hundred years of vicissitudes, signified that our compatriots in Hong Kong have since become the true masters of this land. This day will go down in history as a day worthy of eternal remembrance.
The"one country, two systems" principle has provided a stable expectation for the future destiny of Hong Kong and Macao. It has not only realized the smooth reunification but also provided the best institutional arrangement for maintaining the long-term prosperity and stability of Hong Kong and Macao.
Since its return to China, Hong Kong's unique status and advantages have been continuously consolidated and elevated under "one country, two systems," sustaining its vibrant development. The city has maintained its standing as an international financial, shipping, and trade hub, while its innovation and technology industries have flourished. Since July 1, 1997, Hong Kong's real GDP growth has averaged about 2.6% annually, outpacing the average growth rate of developed economies globally during the same period.
Hong Kong's strengths affirmed by Central Government
The selection of Hong Kong as the headquarters of the IOMed reflects the central government's recognition of the city's capabilities and international stature. Wang emphasized that Hong Kong, backed by the motherland and connected to the world, offers a business-friendly environment, a highly developed legal system, and the combined strengths of common law and civil law traditions, making it uniquely positioned for international mediation.
The establishment of the Institute in Hong Kong not only showcases the city's mediation expertise but also enhances its global standing, further promoting international engagement and cooperation.
Legal and dispute resolution advantages
For instance, Hong Kong is the only common law jurisdiction in China and the only jurisdiction in the world with a bilingual (Chinese-English) common law system. Its legal framework is robust, efficient, and highly respected, supported by world-class legal and dispute resolution professionals. Many of these experts are fluent in multiple languages, well-versed in international rules and practices, and contribute to Hong Kong's reputation as a preferred venue for dispute resolution.
Hong Kong's long-standing "biliteracy and trilingualism" policy further strengthens its international competitiveness.
Global Recognition
In fact, Hong Kong was recently ranked:
- The most popular arbitration seat in Asia-Pacific and joint second globally in an international arbitration survey.
- First in "business regulations" and "international trade" in the World Competitiveness Yearbook.
- Eighth in "dispute resolution" out of 50 economies in the World Bank Group's Business Enabling Environment Assessment.
These accolades solidify Hong Kong's credentials as the ideal location for the IOMed.
The SAR government has been actively expanding its international partnerships. Just this month, Chief Executive John Lee made his second official visit to the Middle East, traveling to Qatar and Kuwait. The trip resulted in the signing of 59 memoranda of understanding (MOUs) and cooperation agreements, while visa-free access for Hong Kong passport holders to Qatar and the UAE was extended to 30 days, and Oman's visa-free stay was increased from 10 to 14 days.
Under the Belt and Road Initiative (BRI), these visa facilitation measures enhance travel, cultural, and economic ties between Hong Kong and Gulf Cooperation Council (GCC) member states, reinforcing the city's role as a "super connector" and "super value-adder" in global exchanges.
Fostering vibrant "mediation culture"
To support the IOMed, Hong Kong is actively promoting mediation culture, including making mediation clauses standard in all government contracts. The city is also strengthening accreditation and disciplinary systems for local mediation professionals.
Hong Kong, a city that returned to China through the peaceful resolution of an international dispute, is now poised to play an even greater role in mediating global conflicts. As Wang stated, the IOMed, a rising star, will grow alongside the Pearl of the Orient, shining ever brighter together.
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