Hong Kong's economic recovery is improving, focusing on tackling chronic problems of people's livelihood

2021-12-27

In 2021, Hong Kong's economy will recover strongly, and the SAR government predicts that the annual growth is expected to reach 6.4%. This year, Hong Kong's position as an international financial center remained stable, and the latest ranking of international institutions rose one place and returned to third place. This year, Hong Kong made a long-term plan, and the core issues of economic and social development such as housing, innovation and technology are expected to be solved. The economy recovered strongly and confidence increased steadily "Hong Kong's economy has recovered strongly this year." E Zhihuan, chief economist of BOC Hong Kong, has a clear view that "Hong Kong has stepped into the track of strong recovery in synchronization with major global economies, and this trend will continue." Ou xixiong, economic adviser to the SAR government, said that the sharp improvement in external factors is the main driving force for Hong Kong's economic recovery. Hong Kong's unemployment rate also continued to improve this year. The latest labor force statistics released by the Statistics Department of the HKSAR Government on December 16 showed that the seasonally adjusted unemployment rate decreased from 4.3% from August to October 2021 to 4.1% from September to November 2021. Another highlight of Hong Kong's economy is that inflation is under control. Unlike the recovery and deterioration of inflation in many economies, consumer prices in Hong Kong have only increased slightly. The basic consumer price inflation in the first three quarters of this year was 0.4%, and the overall consumer price inflation rate for the whole year is predicted to be 1.6%. Recent surveys have shown that the confidence of Hong Kong's business community has increased steadily. According to the "questionnaire on business prospects" of the Hong Kong General Chamber of Commerce, nearly half of the enterprises surveyed expect their turnover to increase next year compared with this year. Housing and people's livelihood will become the focus of policy Ms. Li, who lives in public housing (low rent housing in Hong Kong), wants to change to a big house: "her daughter is old, a little rebellious, and often conflicts with her father, even if she is separated from a small space." 28 square meters, five people. This is the current situation of Ms. Li's family. The two older daughters slept in bunk beds, crowded behind the door, and the mother took her little daughter to sleep in the hut. If it weren't for the balcony, dad couldn't sleep on the sofa. According to the data of the Housing Department of the Hong Kong Special Administrative Region government, there are now more than 250000 applications waiting for public housing, with a waiting time of nearly six years. Housing is the biggest pain point of Hong Kong society. For a long time, it has been difficult to reach a consensus on how to solve it. In 2021, with the care and support of the central government, Hong Kong got rid of the haze of social tearing. The SAR government and all sectors of society increasingly focused on solving the problems of people's livelihood. The core of Hong Kong's housing problem is the land problem. The latest figures released by the housing department show that about 350 hectares of land have been found in the next decade, which can build about 330000 public housing units. The Housing Department said that this is a new high in recent years, and the multi pronged land search strategy of the SAR government has achieved results. What is more encouraging is the planning of the "northern metropolitan area". In her policy address in October this year, the chief executive of the Hong Kong Special Administrative Region, Carrie Lam, proposed to build a "northern metropolitan area" covering an area of 300 square kilometers in northern Hong Kong, which is suitable for living, work and tourism. While meeting the living needs of about 2.5 million people, it can also form a strategic layout of "two cities and three circles" with Shenzhen, so as to play a "double engine" role for the country, Produce the effect of "strong cooperation". Despite the stigmatization of the west, Hong Kong still has a good opportunity Peter Stan, a Danish businessman who is doing business in Europe, is eager to return to Hong Kong, even if he has to spend the whole Christmas holiday and new year's day in the isolation hotel. Hong Kong has his business and his family. "I like the freedom of Hong Kong, especially its integration of busy urban life and beautiful countryside." Peter Stan, who started a medical device company in Hong Kong in 1994, said, "one of my best experiences is hiking in the mountains. When I hike on Lantau, I can hear Donald Duck singing in Disneyland. This will not happen in other parts of the world, but only in Hong Kong." He found that the Hong Kong people in Europe talked about was totally different from the Hong Kong he was in. "They believe the information in the media. They are misled!" Peter Stein believes that "for young people, Hong Kong is the place with the best opportunities in the world. Hong Kong is in the Great Bay area of Guangdong, Hong Kong and Macao with more than 80 million people, with good infrastructure and many excellent companies and enterprises." It will take time to eliminate the stigmatization of the western media, but the Western business community still has confidence in Hong Kong. According to the 30th "global financial center index" report of the UK Z / yen group and China (Shenzhen) Comprehensive Development Research Institute, the overall ranking of Hong Kong, China, rose one place to the third place in the world compared with March this year. In the global IPO market, KPMG reported that as of December 5, the total IPO of Hong Kong Stock Exchange in 2021 was US $39 billion, ranking the fourth in the world. Hong Kong's bond market is also very active in 2021. In particular, RMB bonds have experienced a downturn in previous years. In 2021, the Ministry of Finance issued RMB 20 billion and Shenzhen issued RMB 5 billion in Hong Kong. The Hong Kong SAR government also issued RMB 5 billion offshore green bonds for the first time, which was warmly sought after. Bond link and cross-border financial link have developed smoothly, highlighting the advantages of connectivity between Hong Kong and the mainland. Yu Weiwen, President of the Hong Kong Monetary Authority, said that what foreign investors are most concerned about is how to better seize the opportunities in the Hong Kong and mainland markets and how to strengthen the development of new fields such as financial technology and green finance. With the continuous advancement of connectivity, Hong Kong's financial industry will gain greater momentum for development. Innovation and entrepreneurship in the best times and regions Wu Xueming, who graduated from Harvard University, started a business in Hong Kong and transferred to Foshan and Jiangmen to set up a business park. The continuing epidemic has allowed Wu Xueming to command his mainland enterprises through remote video. "This is the best entrepreneurial era, and the Dawan District of Guangdong, Hong Kong and Macao is the best entrepreneurial area." Wu Xueming said. Zhan Peixun organized youth science and Innovation exchange activities in Hong Kong for a long time. Finally, he couldn't restrain his entrepreneurial passion and went to Shenzhen to start his own unmanned car project at the beginning of this year. At present, his company has obtained the first driverless test license granted by the Transport Department of the HKSAR government. He can count a large number of complementary advantages of Guangdong, Hong Kong, Macao and the Great Bay area. What he deeply feels is the support policies for Hong Kong and youth in various places. He recently visited Guangzhou Nansha, Shenzhen Qianhai, Futian Shenzhen Hong Kong cooperation zone and other places, and found that all places try their best to attract Hong Kong Youth to enter, stay and integrate, "this is definitely the best choice for Hong Kong youth who are willing to start a business". The HKSAR government is also determined to enhance its support for innovation and technology. In the 2021 policy address, Mrs Lam announced that she would immediately study the expansion of the science park. In addition, she suggested that the Hong Kong Shenzhen Innovation Park, which is under construction in Hetao area, should be integrated with the areas around Lok Ma Chau and Xintian to integrate the "Xintian science and technology city". Liang Haiming, President of Silk Road Zhigu Research Institute, is very optimistic about this area. Xintian science and technology city has about 240 hectares of land related to Chuangke. Together with Shenzhen Chuangke Park, it forms a Shenzhen Hong Kong Science and technology innovation cooperation zone covering an area of about 540 hectares. Yang Yuchuan, visiting professor of the Hong Kong Institute of financial management, proposed that starting from its contribution to the country, Hong Kong should give full play to its special advantages in the future, attract international scientific research talents, and make Hong Kong an innovation and Science Center for the common development of talents at home and abroad. Getting rid of the constraints of "Pan politicization", Hong Kong has concentrated on planning long-term development. "Before, we didn't have the courage, the insight, or the conditions to plan Hong Kong's future." At a forum in October, Lin zhengyue'e said that through the two major measures of the central government, including the Hong Kong national security law, we have restored stability. Improving the electoral system enables us to ensure that "patriots govern Hong Kong". Now is the time to forge ahead, start again and plan for the future of Hong Kong. (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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