Editor's note: In this episode, Mr. Grenville Cross sets out the robust post-national security legislation landscape of Hong Kong, anchoring arguments in 2025 economic growth figures, rising enterprise numbers, and Basic Law stipulations to affirm the city's capitalist system, high degree of autonomy, and international standing. He further spotlights Hong Kong's strategic push for bolstering its global financial hub status via the 19th AFF, offering a fact-based perspective on the city's current development and future positioning.
With the enactment of its national security legislation, Hong Kong's capitalist system and way of life are secure. Its future is assured, and the private sector's prospects are bright. Whereas Hong Kong's economy grew by a robust 3.5% in 2025, up from 2.6% in 2024, the number of foreign and mainland Chinese companies rose to 11,070 last year, marking an 11% increase. This is most welcome news for a business city.
Hong Kong is taking full advantage of the "high degree of autonomy" promised under the Basic Law (Art. 12), and attempts to paint it as "just another Chinese mainland city" are delusional. Hong Kong is nothing if not an international city, and the Basic Law guarantees its right to "maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the appropriate fields" (Art. 151). The net is cast widely, including the economic, trade, financial, and monetary, shipping, communications, tourism, cultural, and sports fields. The Basic Law's architects were keenly aware not only of the city's global status but also of its potential.
When, for example, the 19th Asian Financial Forum (AFF) was organized in Hong Kong last month, the message from the Chief Executive, John Lee, was that Hong Kong is thinking big, seizing opportunities, and reaching out to Asia. He expressed desires to boost its status as an international financial center, focusing on deepening the equity market, expanding the bond market, and advancing the asset and wealth management sector.
(Reporter: Lexy Lu | Editor: Liu Yu)
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