Carrie Lam, Hong Kong’s president, provides her policy address at the Legislative Council in Hong Kong, China, on Wednesday,Oct 6, 2021.
Paul Yeung|Bloomberg|Getty Images
“With the implementation of the National Security Law and improvement to our electoral system, chaos has ended and social order has been restored,” she stated, according an authorities English translation of her remarks. “We are now embracing a new era where we can focus on economic development.”
She restated that point a number of times throughout her two-hour long speech.
Her 2019 address was “disrupted and paralyzed” by “anti-China” opposition legislators, Lam stated.
This was Lam’s last policy address in her present term as president. Hong Kong’s next president election is because of occur in March next year.
Hong Kong, a previous British nest that was turned over to China in 1997, was assured autonomy for 50 years.
The Chinese monetary center is governed under the “one country, two systems” structure and has flexibilities that other Chinese cities do not have, such as minimal election rights and a mainly different legal and financial system.
‘Back on track’
Lam promoted Wednesday’s calm policy speech as a “clear symptom that the Hong Kong [Special Administrative Region] has actually returned on the ideal track of ‘one nation, 2 systems.'” She applauded the nationwide security law and electoral reforms under pro-Beijing legislators in the city for the “timely curb on the chaos in the city.”
“Any accusation that these two major initiatives of the central government have undermined ‘one country, two systems’ is nonsense and groundless,” she stated.
It can be seen that our company environment has actually not been weakened by the effect of the pandemic and the prejudiced reports of Hong Kong’s circumstance by specific Western media.
Carrie Lam
Hong Kong Chief Executive
The president declared preliminary issues about the nationwide security law amongst companies have “notably subsided” which companies are now most worried about Covid limitations on cross-border travel.
A May study by the American Chamber of Commerce in Hong Kong discovered that 42% of its members who reacted are thinking about leaving the city, and the “most widely shared concern was discomfort” due to the nationwide security law.
Lam stated the variety of company operations in Hong Kong with moms and dad business overseas or in the mainland reached all-time highs this year, as did the variety of start-ups in the city.
“It can be seen that our business environment has not been undermined by the impact of the pandemic and the biased reports of Hong Kong’s situation by certain Western media,” she stated without calling them.
Land, real estate advancement
Separately, Lam proposed establishing a location in the north of Hong Kong into a metropolitan area for domestic and commercial usage.
It might be a center for development and innovation, and assistance Hong Kong and Shenzhen’s advancement, she stated.
Current strategies suggest that 350,000 domestic systems might be produced in this Northern Metropolis, with the capacity for another 186,000 more systems.
The Hong Kong leader likewise offered updates on the federal government’s real estate policy for Hong Kong, which is among the most pricey home markets on the planet.
“Providing decent accommodation for all is the primary goal of my housing policy,” Lam stated in her speech, keeping in mind that the long waiting time for public rental real estate allotment is “worrying.”
