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Hong Kong should work with mainland China to host ‘Belt and Road Games’
文章
2024 年 8 月 12 日
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Keynote Speech by the Honourable Mrs. Regina Ip, GBM, GBS, JP At the SCMP “Re-defining Hong Kong” Conference
9 August 2024
CEO Catherine, Tammy, Jasmine, Distinguished Guests, Ladies and Gentlemen,
I wish to thank SCMP for giving me the opportunity to talk about “Re-defining Hong Kong”, a subject very close to my heart. I have been thinking hard about it for a while, not just because central government officials have been urging Hong Kong to get a handle on change, implying a need for re-positioning and and re-invention, but also because the catalysts for change are all around us.
Hong Kong has in the past done well coping with change and, in the process, transformed itself. Hong Kong’s history is an admirable story of successful re-invention in the face of change. The city is now at a major inflection point. The changes it is facing are far more consequential than any it has seen.
At this juncture, the world is facing a great reversal of the forces for liberalisation and globalisation that have generated undreamed-of wealth for China and other emerging economies. The institutions created by the victors of the Second World War, supposedly built to bring lasting prosperity and peace, are weakening. Trade rules are being flouted with impunity. Export controls, subsidies and industrial policy aimed at building “homeland economy”, come what may, are upending the old market-based economic order.
On the geopolitical front, the so-called “rules-based order”, or “liberal international order”, championed by the US-led West, is facing growing scepticism about the interests they purport to serve. New geopolitical groupings, such as the Shanghai Cooperation Organisation and BRICS, are gathering new members and growing in influence and economic clout.
Simply put, we are entering an era were unipolar domination by a single superpower is coming to an end. As this happens, the ruling power’s sense of insecurity, anxiety, and the urge to regain primacy are setting off tensions that will likely be a drag on growth for many years to come.
As a small but highly externally oriented economy, Hong Kong is at the forefront of collision with evolving external forces. Following China’s economic take-off after its accession to the World Trade Organisation, Hong Kong’s service economy soared. Hong Kong benefited from China’s vast demands for service in multiple areas. Hong Kong’s financial, business, professional, retail and tourism services had a field day. The city’s property market skyrocketed.
Now that China has embraced a different economic model based on “new quality productive force”, that is, growth driven by innovation and technology as opposed to high-speed growth, Hong Kong needs to re-calibrate its roles and re-position itself in the new geopolitical landscape.
Despite geopolitical tensions, Hong Kong should strengthen its “separate systems” characteristics, both in substance and in messaging, and mobilise its vast resources in and outside government to reach out to its traditional developed world partners in North America, Europe, Asia and Australia.
The constant drumbeat of sanctions and twisted narratives on Hong Kong should not deter Hong Kong from engagement. Through fearless engagement - discussing, debating and arguing face-to-face - the real Hong Kong story will be powerfully told.
While it may be beyond difficult to move the mountain of Sinophobia and hostility in some quarters in the West, Hong Kong should fully utilise its knowledge of western culture, values and norms, and the extensive networks it has built up to help China build common ground with Western countries, and reduce misunderstandings.
Whereas Hong Kong had in the past prioritised doing business with the English-speaking world, it is high time for Hong Kong to re-orient itself to the diverse and multi-cultural non-English speaking sphere, whether in the Middle East, Eastern Europe, or elsewhere. It should start by broadening its language skills and cultural mindset, so that it can dive deep into building meaningful relationships with peoples and businesses from different parts of the world.
To this end, our motherland has provided Hong Kong with a convenient entry point - through the Belt and Road Initiative (BRI). To leverage our central location in the Belt and Road orbit, I have recommended to the Chief Executive that Hong Kong should work in conjunction with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to host the first Belt and Road Games. Riding on its stunning achievements in the Paris Olympics, Hong Kong should take the lead in using mega events in sports to build friendship, strengthen connectivity, spur innovation and stimulate growth.
In regard to the Greater Bay Area, Hong Kong has played a pivotal role as an agent for modernisation. In the next stage of development of the GBA, which is marked by accelerating integration enabled by world-class transport infrastructure, Hong Kong will benefit from partnership with tech enterprises in the mainland. Hong Kong will need to move up the value ladder to provide higher value-added services to producers in GBA cities, in financial, legal and professional, educational and technology-related areas.
Hong Kong’s open markets, free flow of information, and cluster of internationally renowned schools and universities will enable it to become a magnet for global talents. Since the HKSAR Government introduced new schemes for the admission of global talents and streamlined procedures last year, the government has received 340,000 applications and approved 210,000. By the end of June, about 130,000 applicants have arrived. The enthusiastic response testifies to Hong Kong’s attractiveness as a talent hub. I warmly welcome these newcomers to our city. They will bring new ideas, fresh perspectives, and broaden our city’s skills base. They will help provide the skilled manpower we need for the industries of the future.
Where Hong Kong’s position as a global financial hub is concerned, the recent weakening of Hong Kong’s role as a fund-raising platform, owing to cyclical and geopolitical factors, has accelerated Hong Kong’s transformation into a financial innovation nerve centre.
Hong Kong maintains its traditional strengths in asset and wealth management, insurance and risk management, and has made significant progress in the issuance of green bonds and establishing its position as a family office hub. Since June last year, Hong Kong has become the only part of China that has introduced a regulatory regime for trading, investing and managing virtual assets. It has recently started consultation on the regulatory regime for fiat-referenced stable coin issuers. Hong Kong continues to innovate and enhance its financial infrastructure, introducing new pilot schemes for use of e-HKD for retail, cross-border QR payment with Thailand and setting standards for developing a tokenisation market.
Above all, Hong Kong remains the largest offshore RMB pool and plays a critical role in the internationalisation of the CNY, through various “connect” schemes, launch of more CNY-denominated products and pilot schemes for cross-border e-CNY payments. As jitters about the US’s abuse of its dollar dominance grows, Hong Kong does well in assisting China and other parts of the world to introduce electronic payment systems.
Many of China’s tech giants and manufacturing powerhouses have established a foothold overseas. But scores of other lesser ones are striving to globalise themselves by going outside China. China is committed to globalisation and Hong Kong is well positioned to assist Chinese enterprises to reach out to the world.
Let there be no doubt about Hong Kong’s identity. It has always been an inalienable part of China. Our favourite dim sum, king fu (martial arts), moon cakes, lion dance and Cantonese opera all came from China. Our boundary with Shenzhen is an artificial administrative partition. In terms of geography we are at one with southern China. But through more than 150 years of interaction with the West and the institutional guarantees in the Basic Law, Hong Kong is a DIFFERENT part of China, with strong rule of law based on the common law system, protection of fundamental rights and freedoms as provided in the Basic Law, and the most international environment throughout China.
Hong Kong contributes to the nation by being different, and to the world by proving the success of “One Country, Two Systems”. If Hong Kong needs any re-definition, it’s future lies in playing an even more robust role in pushing China’s modernisation and deepening reform. It won’t be a glide path forward, but we are ready.
Thank you for listening to me.
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在這樣“嚴峻複雜的國際環境”下，國家要直面不少挑戰，《決定》有詳細論述，這裡簡單說說。
《決定》第二部分明確指出要“構建高水平社會主義市場經濟體制”。根據傳統經濟理論，市場經濟是效率及效益最高的，透過市場力量配置資源是最有效的。不過，若只追求利潤最大化，市場或會失靈（Market Failure）。《決定》看透了這一點，清楚指出要“更好發揮市場機制作用”，“更好維護市場秩序”，要“放得活又管得住”，在適當時候“彌補市場失靈”，即是要把社會主義和市場經濟結合起來，並且要靈活配置，以創造具活力的市場環境，造就具效益的經濟循環，任重道遠。
《決定》第三部分指出要“健全推動經濟高質量發展體制機制”，要“健全因地制宜發展新質生產力體制機制”，我非常認同。換句話說，過去在改革開放初期靠龐大的勞動力、靠代工賺取微薄利潤的方式已經不合時宜，今後要透過整合最新科技來創造更大的價值。國家要攻堅的，自然是最先進的半導體市場。
舉個例，眾所周知，香港的郵輪碼頭定位不準，使用率低，問題多多，一直為人詬病；即使郵輪遊客到港後出市區消費，對提振經濟也起不了多少作用。最近則有市民告訴我，她在上海參加國產郵輪團，遊天津、北京、濟州、大阪，團費才不過一萬六千元，價廉物美性價比高，而且郵輪上食買玩、休閒娛樂睇騷醫療護理應有盡有，遊客單在船上已可盡情消費，即是“郵輪”本身已能賺盡遊客的錢，留給“碼頭”的消費空間已不多。儘管這例子並非最前沿的高新科技，但是國產郵輪把內地郵輪業推上高質量新高峰，內地郵輪業能整合整個供應鏈及發揮本身龐大的製造實力來賺取最大利潤，是不爭事實。
要達成《決定》交下的任務，鞏固香港“三大中心”加“一個人才基地”的地位，我認為香港首先要發奮自強，主動求變轉型，我有以下幾個建議。
第一，香港作為國際航運中心，相對於內地其他港口，香港貨櫃碼頭稱得上是發展最早而高度成熟的，自七十年代起便是全球最繁忙的貨櫃港之一，但是近十年的吞吐量逐年下跌，而且因為地緣政治變化，全球產業鏈重組，航線調整，香港必須盡快行動，研究如何讓香港貨櫃碼頭升級轉型，鞏固國際航運中心的地位。
作為對國家發展具策略性功能的國際航運中心，港口發展需要超長遠規劃，相對於依賴企業投資，我認為特區政府應擔起主體責任，盡快研究未來十年、二十年的全球供應鏈分布、貨櫃吞吐量趨勢、評估香港對貨櫃碼頭用地的需要，亦要研究香港港口可否轉型成倫敦那樣的高端航運服務中心，專注從事海事法律、海事保險、海事仲裁及船舶管理等高價值航運服務，以及應如何與大灣區各港口作戰略分工。
此外，我建議盡快成立專門管理港口的法定機構港口管理局，好像機場管理局那樣，為港口發展及碼頭用地作長遠規劃，制訂香港航運業路的清晰策略定位，與五間碼頭營運商統籌對接，處理空置的貨櫃碼頭用地或協助營運商升級轉型。
第三，香港作為國際貿易中心，同樣面對不少挑戰，尤其是美國正在摧毀其於二次大戰後建立的自由貿易制度，香港這個細小而開放的經濟體，自然會受到衝擊。香港過去主打與英語世界打交道，現在香港應適時調整，抓準中東、東歐、東亞及中亞等新興市場，加緊開拓、發展。
第五，《決定》第四部分要求“構建支持全面創新體制機制”，指出“教育、科技、人才是中國式現代化的基礎性、戰略性支撐”，因此要“深化人才發展體制機制改革”，“促進人才區域合理布局”，我十分認同，這也是香港需要做的。
香港的開放市場、資訊的自由流動、匯聚國際知名的高等學府，都能吸引國際人才。自去年特區政府簡化程序，推出搶人才計劃，至今約有14萬人才入境香港，反映香港作為人才庫，對高端人才有一定吸引力。這些新力軍將為香港多元產業及經濟作出貢獻。不過，我認為這樣並不足夠，特區政府需審時度勢，超前布局，適時檢討相關政策，以切合香港的實際需要，同時不能落下本地人才，如何培養及留住本地人才，同樣重要。
香港從來都是中國不可分割的一部分，而在“一國兩制”下，香港擁抱普通法制度，具穩固的法治基礎，有基本法保障人權、自由，而且是中國最具國際化氛圍的城市。香港的“與別不同”，定能助力國家進一步全面深化改革，推進中國式現代化發展。
經過世界各地健兒17 日的競技激鬥，國家隊最終以40 金27 銀24 銅共91 面獎牌的成績結束今屆奧運，位居獎牌榜第二位，同時創造了海外參加奧運的最佳紀錄。國家隊在傳統強項乒乓球和跳水不但保持優勢，更令人欣喜的是，在本屆奧運會上在游泳、網球等美西方傳統優勢項目上取得歷史性突破。國家隊運動員是如何變得「更快、更高、更強」呢？
首先，除了人才輩出外，跟國家資源亦息息相關。以江浙滬盛產泳手為例，潘展樂、混合泳之王汪順、洪荒少女傅園慧等，都是浙江人。據悉，中國江浙滬是泳手的聚集地，游泳是強身健體的鍛煉方式，在當地相當普及。有數據指出，截止2023 年底，浙江全省游泳池超過3000個，為民眾提供了豐富的游泳資源。此外，浙江的經濟發展亦有目共睹，當地居民人均可支配收入居全國第二位，僅次於上海，經濟實力為游泳運動普及化提供強大的基礎。
再者，家庭的栽培是運動員走向成功的因素之一。國家隊之中，有不少運動員來自運動世家或中產家庭。根據《亞洲週刊》及《星島日報》的報道，以國家網球手鄭欽文為例，她能夠創造歷史為國家隊拿下網球女單首金，成功背後的關鍵人物，是為她鋪排一切的父親鄭建坪。鄭欽文出生於運動世家，父親本身是田徑運動員，在鄭欽文年幼時便決心把她培育為運動員。有說鄭建坪對女兒的訓練很嚴苛，從小就將她送到武漢的網球學校，後來再為她尋訪名師，續將她帶到西班牙接受訓練。由此可見，家庭實力及栽培也是運動員的成功因素之一。
第三，注重個人健康及營養亦是培育優秀運動員的重要因素。正如加州大學爾灣分校的社會學教授王峰的著作China's Age of Abundance 提及，隨着中國變得越發富裕，普遍兒童吃的營養豐富，身高持續增長。眾多國家隊「00 後」小將之所以能脫穎而出，不難看出身高優勢對游泳等多個運動項目的運動員來說都非常重要。
How does the national team become "faster, higher, stronger"?
After 17 days of fierce competition by athletes from around the world, the national team ended this year's Olympics with a total of 91 medals - 40 gold, 27 silver, and 24 bronze, ranking second on the medal table and setting a new record for the best performance by a team competing overseas at the Olympics. The national team not only maintained its dominance in traditional strengths like table tennis and diving but also achieved historic breakthroughs in events traditionally dominated by Western countries, such as swimming and tennis, at this Olympics. How did the athletes of the national team become "faster, higher, stronger"?
Firstly, in addition to the emergence of talented individuals, the relationship with national resources is crucial. Taking swimmers from the Jiangsu-Zhejiang-Shanghai region as an example, athletes like Pan Zhanle, the king of individual medley Wang Shun, and the extraordinary young talent Fu Yuanhui are all from Zhejiang. It is known that the Jiangsu-Zhejiang-Shanghai region in China is a gathering place for swimmers, where swimming is a popular way to stay fit and healthy, with a significant presence in the local community. Data indicates that by the end of 2023, there were over 3,000 swimming pools in Zhejiang Province, providing abundant swimming resources for the public. Additionally, the remarkable economic development in Zhejiang is evident, with the region's per capita disposable income ranking second nationwide, just behind Shanghai, providing a strong foundation for the popularization of swimming due to its economic strength.
Moreover, family upbringing is one of the factors contributing to athletes' path to success. Within the national team, many athletes come from sports backgrounds or middle-class families. According to reports from "Asia Weekly" and "Sing Tao Daily", taking the national tennis player Zheng Qinwen as an example, the key figure behind her historic success in securing the first gold in women's singles for the national team in tennis was her father, Zheng Jianping, who paved the way for her. Zheng Qinwen was born into a family with a sports background; her father was a track and field athlete who was determined to nurture her as an athlete from a young age. It is said that Zheng Jianping's training of his daughter was strict; he sent her to a tennis school in Wuhan at a young age and later sought out renowned coaches for her, eventually taking her to Spain for training. This demonstrates that family strength and upbringing are also key factors in an athlete's success.
Thirdly, emphasis on personal health and nutrition is also an important factor in cultivating excellent athletes. As mentioned in the book "China's Age of Abundance" by Wang Feng, a sociology professor at the University of California, Irvine, as China becomes increasingly affluent, children are generally consuming more nutritious diets, leading to continued growth in height. The reason why many post-2000 young athletes from the national team stand out is closely related to the advantage of height, which is crucial for athletes in various sports such as swimming.
美國在今屆巴黎奧運奪得的獎牌數量排名全球第一，總計拿下126 面獎牌，包括40 面金牌、44 面銀牌與42 面銅牌。值得注意的是，美國奧運選手並非都是職業運動員，亦有來自多所美國大學的在讀大學生或畢業生。其中有39 面獎牌，由出產最多獎牌運動員的院校「史丹福大學」（Stanford University）奪得。據史丹福雜誌（STANFORD），早於1924 年的巴黎奧運會，史丹福大學已戰功顯赫，奪得21 枚獎牌。100 年後的2024 巴黎奧運，史丹福大學更成為全美贏得最多獎牌的大學，甚至還能名列全球第九，只輸給8個國家。史丹福運動員贏得的獎牌涵蓋游泳、田徑、體操等多個項目，成績驕人。
史丹福大學之所以能奪得多枚獎牌的重要原因之一，是看重曾在體育運動表現出色的學生。比方說，巴黎奧運金牌得主江旻憓，13 歲已越級取得2007 年全國少年錦標賽U17 組冠軍，後以IB 佳績考入史丹福大學。除此之外，亦有許多客觀因素。史丹福大學位於美國西部，天氣較為和暖。該校亦是美國佔地最大的大學之一，土地資源豐富，可以發展的體育項目種類便相當之多。據悉，在2023/24學年，史丹佛大學擁有超過30 個運動代表隊及俱樂部，如高爾夫球、網球等。相較之下，位於美國東部的賓夕法尼亞州立大學（Pennsylvania State University），天氣頗為寒冷，更適宜冰壺等冬季運動。由此可見，體育除了需要豐饒的土地資源，還需天公作美。
再者，優秀的教練團隊同樣重要。比方說，自2012 年以來一直擔任史丹福大學女子游泳隊主教練，以及在2018 至2021年間擔任美國女子游泳隊主教練的格雷格·米漢（Greg Meehan）。在他的領導下，史丹福大學贏得了6 次（2013 年、2017至2020 年、2022 年）太平洋十二校聯盟（Pacific-12 Conference）錦標賽冠軍，並且在聯盟上的成績沒有低於第二名。
綜合而言，創造奧運佳績的成就關鍵，除了高校對培養體育人才的極度重視，還需要一套完整健全的運作機制。
Why is the performance of American universities outstanding?
The United States ranks first globally in the number of medals won at the current Paris Olympics, claiming a total of 126 medals, including 40 gold, 44 silver, and 42 bronze medals. It is noteworthy that not all American Olympic athletes are professional athletes; many are current students or graduates from various American universities. Among them, 39 medals were won by athletes from Stanford University, which produces the most medal-winning athletes. According to Stanford Magazine, as early as the 1924 Paris Olympics, Stanford University had a distinguished record, winning 21 medals. 100 years later at the 2024 Paris Olympics, Stanford University has become the university in the United States with the most medals won, even ranking ninth globally, only behind eight countries. Medals won by Stanford athletes span across various events such as swimming, athletics, gymnastics, among others, showcasing remarkable performances.
One of the important reasons why Stanford University can win multiple medals is its emphasis on students who have shown outstanding performances in sports. For example, gold medalist at the Paris Olympics, Vivian Kong Man Wai, won the U17 group championship at the 2007 National Youth Championships at the age of 13 and later entered Stanford University with excellent IB results. In addition, there are many other objective factors. Stanford University is located in the western United States, with relatively warm weather. It is also one of the largest universities in the United States, with abundant land resources, allowing for a wide variety of sports programs to be developed. It is reported that in the 2023/24 academic year, Stanford University has over 30 sports representative teams and clubs, such as golf, tennis, and more. In comparison, Pennsylvania State University in the eastern United States has colder weather, more suitable for winter sports like curling. This shows that sports not only require abundant land resources but also favorable weather conditions.
Furthermore, an excellent coaching team is equally important. For example, Greg Meehan has been the head coach of the Stanford University women's swimming team since 2012 and also served as the head coach of the U.S. women's swimming team from 2018 to 2021. Under his leadership, Stanford University has won 6 times (2013, 2017 to 2020, 2022) in the Pacific-12 Conference Championships and has never placed lower than second in the league.
In conclusion, the key to achieving Olympic success lies not only in universities' extreme emphasis on cultivating sports talents but also in the implementation of a complete and sound operational mechanism.
國家隊在今屆巴黎奧運表現大放異彩，金牌數量與美國並列榜首。在游泳、射擊及舉重項目，國家隊共打破世界紀錄1 項和創造奧運會紀錄9 項次，成績斐然。
無奈的是，如此耀眼的成績卻受到爭議，有外媒炒作所謂「中國游泳運動員興奮劑爭議」，中國游泳運動員潘展樂在巴黎奧運會男子100 米自由泳決賽中以46 秒40 刷新世界紀錄、強勢奪金後，有外媒質疑他是否服用了興奮劑；一名澳洲教練更力指「人類不可能做到」。世界泳聯稱，在巴黎奧運前，中國游泳隊平均每人接受21 次不同反興奮劑組織的藥檢。相比之下，美國的游泳運動員平均只接受6 次藥檢。諷刺的是，美國對自身長久以來的反興奮劑「陋習」視而不見，反而執迷於「越界管轄」，要求對其他國家實施制裁。面對美國在興奮劑議題上咄咄緊迫，國家隊不僅能頂住壓力而且有超凡發揮，展示絕對實力，實在相當能耐。
此外，有外媒在欠缺確實證據下指中國訓練運動員的方式不人道。我認為事實並非如此。比方說，中國跳水選手全紅嬋於巴黎奧運衛冕，並於女子10 米高台跳水獲得評判一致給予10 分滿分成績。她在賽後接受訪問時否認自己是「天才少女」，她說道：「這些都是一遍一遍地去練，在這期間很辛苦。拿到這枚金牌很不容易。」要爭奪獎牌，刻苦訓練是必須的，但這不等於不人道。為了在奧運場上展現最佳狀態，我相信每位運動員都會於心理上、個人能力上做最充分的準備。作為傳媒及社會人士，理應認同運動員所付出的努力，以及他們展現的非凡意志力。
總括而言，獎牌榜背後，反映的是國家綜合實力的提升。在一些歐美國家起步較早的新興項目上，如競技體操及花樣游泳，國家隊也在快速進步，展現巨大發展潛力，開展針對性，個性化訓練培養，取得非常好的效果。
National Team Shines with Gold Medals / 國家隊奪金實至名歸
The national team has delivered a stellar performance at the current Paris Olympics, tying with the United States for the most gold medals. In swimming, shooting, and weightlifting events, the national team has broken one world record and set nine Olympic records, achieving remarkable results.
Regrettably, such shining achievements have been clouded by controversy. Some foreign media have sensationalized the so-called "Chinese swimmers doping controversy," particularly focusing on Pan Zhanle, a Chinese swimmer who broke the world record with a time of 46.40 seconds in the men's 100m freestyle final at the Paris Olympics and won gold. There are allegations from foreign media questioning whether he used performance-enhancing drugs; an Australian coach even stated that "humans cannot achieve that." FINA stated that before the Paris Olympics, each member of the Chinese swimming team underwent an average of 21 tests by various anti-doping organizations. In comparison, American swimmers underwent an average of only 6 tests. Ironically, while the United States overlooks its long-standing anti-doping "malpractice," it obsesses over "extraterritorial jurisdiction," imposing sanctions on other countries. Despite the intense pressure from the U.S. on the doping issue, the national team not only withstood the pressure but also performed exceptionally, showcasing their absolute strength and remarkable abilities.
Furthermore, some foreign media have accused China of training athletes in an inhumane manner without concrete evidence. I believe this is not the case. For instance, Chinese diver Quan Hongchan defended her title at the Paris Olympics and received a perfect score of 10 in the women's 10m platform diving event. In a post-match interview, she denied being a "genius girl" and emphasized the hard work behind her success, stating, "It was hard work all the way through. It was not easy to win this gold medal." Diligent training is necessary to compete for medals, but it does not equate to inhumanity. To perform at their best at the Olympics, I believe every athlete prepares themselves mentally and personally to the fullest extent. As media and members of society, we should acknowledge the efforts made by athletes and the extraordinary willpower they demonstrate.
In conclusion, behind the medal tally lies an improvement in the overall national strength. In emerging events where some European and American countries started early, such as artistic gymnastics and synchronized swimming, the national team is also rapidly advancing, showing immense development potential. Targeted, personalized training methods have yielded very positive results.
奧林匹克主義的三大核心價值是「卓越（excellence）」、「尊重（respect）」和「友誼（friendship）」，即是要爭取卓越佳績，要懂得互相尊重，同時要透過比賽和其他人建立友誼。我認為這些價值觀不僅體現在奧運中，也反映在世界各國的文化交流和相互理解中。巴黎奧運的賽場上，各國運動員爭奪獎牌，不僅是個人實力的較量，更是國與國之間的深層博弈。此外，奧運不能避免地充斥政治暗湧，我們穿越獎牌榜，揭示激烈競技背後的種種狀况。
今屆巴黎奧運，中國代表團最終獲得40 金、27 銀、24 銅，一共91 面獎牌。成為北京奧運以外，贏得最多奧運獎牌的一次。從獎牌榜上的位置來看，美國、中國和日本佔據了前三的位置；中國香港則排在第37 位。值得一提的是，中國代表團在多項運動打破世界紀錄。中國泳手潘展樂在男子100 米自由泳決賽中創下今屆奧運首個世界紀錄，及在男子4x100 米混合泳接力決賽中狂追領先的美國隊，為中國隊奪得金牌，終止美國隊在奧運此項目十連霸。網球選手鄭欽文不僅為國家隊取得今屆奧運網球首金，亦是中國網球歷史上首枚單打金牌。中國香港「劍神」張家朗亦連續兩屆奧運在男子花劍勇奪金牌，打破港隊歷史紀錄，亦是男子花劍68 年來首人衛冕。這些佳績充分展現中國體育健兒的拼搏精神，以及為國爭光的決心。
然而，奧運的光輝背後充斥暗湧，例如西方媒體持續針對中國游泳隊，在禁藥議題上大做文章，中國運動員因此遭到了更「嚴格」的對待，包括超頻繁的藥檢。有報道指中國游泳選手潘展樂自巴黎奧運會前接受21 次藥檢。此外，亦有西方媒體拿跳水女將全紅嬋的年齡說事，污衊中國在奧運的成功是來自對運動員的壓迫。世界排名第一的「國乒」選手王楚欽在混雙奪冠後主力球拍遭現場攝影師踩斷，其後又遭瑞典一女記者衝撞。種種事件反映，在奧林匹克主義的三大核心價值以外，背後的歧視與偏見依然存在。
The Undercurrent Behind the Olympic Spirit
The three core values of Olympism are "excellence," "respect," and "friendship," which emphasize the pursuit of excellence, mutual respect, and the fostering of friendships through competition. These values are not only reflected in the Olympics but also in cultural exchanges and mutual understanding among nations worldwide. On the stage of the Paris Olympics, athletes from various countries compete for medals, showcasing not just individual prowess but also the deeper strategic rivalry between nations. Additionally, the Olympics inevitably harbor political undercurrents, revealing various situations beyond the intense competition through the medal standings.
At the current Paris Olympics, the Chinese delegation ultimately secured 40 gold, 27 silver, and 24 bronze medals, totaling 91 medals. This marks the most medals won by China in any Olympics outside of Beijing. Looking at the medal standings, the United States, China, and Japan occupy the top three positions, while China Hong Kong is placed 37th. It is worth mentioning that the Chinese delegation set multiple world records in various sports. Chinese swimmer Pan Zhanle broke the first world record of this Olympics in the men's 100m freestyle final and led the Chinese team to victory in the men's 4x100m mixed relay by overtaking the leading U.S. team, ending their ten-time Olympic dominance in the event. Tennis player Zheng Jiewen not only secured the first gold in tennis for the national team in this Olympics but also claimed China's first gold medal in singles in tennis history. Hong Kong's "Sword God" Zhang Jialang also won the gold medal in men's fencing for two consecutive Olympics, breaking the historical record of the Hong Kong team and becoming the first person to defend the men's fencing title in 68 years. These achievements fully demonstrate the spirit of struggle and determination of Chinese athletes to bring honor to their country.
However, behind the glory of the Olympics, there are hidden undercurrents. For example, Western media continues to target the Chinese swimming team on the issue of banned substances, subjecting Chinese athletes to even more "stringent" scrutiny, including excessively frequent drug testing. Reports have indicated that Chinese swimmer Pan Zhanle underwent 21 drug tests before the Paris Olympics. Furthermore, Western media have criticized the age of Chinese diver Quan Hongchan, insinuating that China's success in the Olympics stems from oppressive measures against athletes. Wang Chuqin, the top-ranked player in the world in table tennis, had his main racket broken by an on-site photographer after winning the mixed doubles, and later was jostled by a female journalist from Sweden. These incidents reflect that, beyond the three core values of Olympism, discrimination and prejudice still persist.
近年，桂林積極推進當地工業綠色轉型。除將工廠遷至市郊的工業園區外，桂林市政府亦積極協助企業更新工廠設施，確保工廠運作對當地環境的影響減到最低。桂林溢達紡織有限公司就是當地諸多企業中成功的轉型例子之一。
桂林紡織業的歷史最早可追溯至1958年，為響應國家當時「大躍進」的號召，桂林市政府決定加快桂林工業化並成立桂林棉紡廠。1980 年代高峰時，桂林棉紡廠的年產值一度超過1 億元人民幣。隨着中國1990 年代的經濟轉型，桂林棉紡廠亦改以私營方式運作，並改名桂林銀海紡織集團公司。
然而，內地為避免紡織界產能過剩及促進產業轉型，在1998 至2000 年間推行「棉紡壓錠」政策，紡織界出現大規模減產及裁員，銀海紡織集團的營運開始出現虧損。直至香港溢達集團於2011年併購重組銀海紡織集團後，這間有60年歷史的企業才得以存活下來。
落戶桂林後，溢達集團在市郊建設自己的工業園區「十如」，並一直致力將更多綠色生產自動化技術應用到廠房之中。過往，工業污水佔紡織業所排放的污染物總量的65%，但十如自行研發出一套創新污水處理技術，大幅減少生產過程中產生的工業廢水。據十如估計，如將他們廠房的污水處理設施推廣至全國紡織界，每年能減少約197 個西湖的工業污水。
值得一提的是，溢達紡織自1995 年起就大規模採用新疆棉，是第二間進入新疆的外資企業。為歐美名牌時裝代工曾是溢達紡織的主要業務，但隨着西方國家自2021 年起陸續制裁使用新疆棉的企業，溢達的業務亦受到影響。面對西方國家的無理指摘，集團果斷放棄西方市場，潛心營運內地生意，更將新疆其中一個廠房轉型為創科企業孵化中心，吸引初創企業落戶，以支持國家的發展策略。
溢達紡織可謂公私營合作的成功典範。特區政府早前表示有意加強公私營合作模式以發展北部都會區，我認為特區政府不妨參考有關例子，鑑往知來。
Yida Textile's Rooting in Guilin
In recent years, Guilin has actively promoted local industrial green transformation. In addition to relocating factories to industrial parks in the suburbs, the Guilin municipal government has been actively assisting companies in updating factory facilities to ensure that the impact of factory operations on the local environment is minimized. Yida Textile Co., Ltd. in Guilin is one of the successful examples of local companies that have undergone transformation.
The history of Guilin's textile industry can be traced back to as early as 1958. In response to the national call for the "Great Leap Forward" at that time, the Guilin municipal government decided to accelerate industrialization in Guilin and established the Guilin Cotton Spinning Factory. At its peak in the 1980s, the annual output value of the Guilin Cotton Spinning Factory exceeded 100 million RMB. With China's economic transformation in the 1990s, the Guilin Cotton Spinning Factory also transitioned to private operation and was renamed the Guilin Yin Hai Textile Group Company.
However, to avoid overcapacity in the textile industry and promote industrial transformation, the mainland implemented the "cotton spinning pressure plate" policy from 1998 to 2000, leading to large-scale production reductions and layoffs in the textile industry. The Yin Hai Textile Group began operating at a loss. It wasn't until the Yida Group from Hong Kong acquired and restructured the Yin Hai Textile Group in 2011 that this enterprise with a 60-year history was able to survive.
After settling in Guilin, the Yida Group built its own industrial park named "Shiru" in the suburbs and has been dedicated to integrating more green and automated production technologies into its factories. Previously, industrial wastewater accounted for 65% of the pollutants emitted by the textile industry, but Shiru developed an innovative wastewater treatment technology that significantly reduces industrial wastewater generated during the production process. According to Shiru's estimates, if their wastewater treatment facilities were implemented nationwide in the textile industry, it could reduce industrial wastewater equivalent to about 197 West Lakes annually.
It is worth mentioning that since 1995, Yida Textile has extensively used Xinjiang cotton, being the second foreign-funded enterprise to enter Xinjiang. Contract manufacturing for European and American fashion brands used to be Yida Textile's main business. However, with Western countries gradually imposing sanctions on companies using Xinjiang cotton from 2021 onwards, Yida's business was also affected. Faced with baseless accusations from Western countries, the group decisively withdrew from Western markets, focused on operating its mainland business, and transformed one of its Xinjiang factories into a technology enterprise incubation center to attract startups, supporting the country's development strategy.
Yida Textile is a successful example of public-private cooperation. The SAR government recently expressed interest in strengthening the public-private partnership model to develop the northern metropolitan area. I believe the SAR government might consider referring to such examples for insights and learning from past experiences.
The Olympic Games mean different things to different people. Which country has done best in the games also depends on how you count the medals. Where gold medals are concerned, China’s performance in the Paris Olympics is doubtless its best since 2008. This year, it tied with the US in gold medals, recording the most golds medals it has ever won at a Summer Olympics away from home.
China maintained its dominant position in table tennis and diving, while also performing well in swimming and tennis, sports traditionally dominated by Western countries. Pan Zhanle’s record-breaking performance in the men’s 100m freestyle competition was met with disbelief from swimming coach Brett Hawke, who commented that the Chinese swimmer’s record-breaking win was not “humanly possible”. That’s despite the fact that Pan had taken doping tests 21 times between May and July.
China’s swimming team only started competing in the Olympic Games in 1988, and won its first gold medal in the women’s 100m freestyle competition in 1992. Since then, China has produced many gold medallists in swimming, with the majority coming from Jiangsu and Zhejiang provinces, as well as Shanghai. How did China pull off this amazing feat and why have most gold medallists come from the coastal areas of the country?
The secret to China’s Olympic success is a combination of economic growth, a large population base and geography. As documented by sociologist Wang Feng at the University of California, Irvine, in his book China’s Age of Abundance: Origins, Ascendance and Aftermath, China’s spectacular economic growth since its reform and opening up enabled Chinese people to become much better fed.
In the early 1970s, China managed to produce less than one egg per person each week. But between 1978 and 1983 there was a 50 per cent increase in consumption of eggs, followed by continuous subsequent increases. As China became richer, its children grew much taller. Wang notes that at age seven, a boy in urban China was 5.2cm taller in 2002 than in 1992 and a girl was 5.7cm taller.
Parts of China’s east coast have a reputation of being the cradle of Olympic gold medallists, and for good reason. China’s east coast has long been its richest region; the people there are more well fed and physically fit than those elsewhere.
Geography is also important. Jiangsu and Zhejiang provinces are crisscrossed with lakes and rivers, fostering strong interest in swimming among residents from a young age. Wealthy cities in eastern China are able to build the sporting infrastructure necessary for nurturing young talent.
China’s large population and diversity enables it to source athletes with attributes that meet the requirements of different sports. Elite athletes are extremely disciplined and able to endure extreme hardship during training. But some sports prioritise a slender build and calmness of mind.
Diving, for example. As southern Chinese are generally smaller than those from the north, Zhanjiang, a relatively poor city in the southwestern part of Guangdong province, has the distinction of producing three Olympic gold medallists in diving since 2004.
Seventeen-year old Quan Hongchan comes from a village in Zhanjiang. Only 150cm tall, she’s the perfect example of how the typical southern Chinese physique, tough training and mental strength can combine to achieve Olympic success. She won three gold medals in diving in Tokyo and Paris, earning perfect scores for her phenomenal “water splash disappearing” technique.
Lee Lai-shan, a native of Cheung Chau, won Hong Kong’s first gold medal in windsurfing in 1996. The city would not win any more Olympic golds until 25 years later, when Cheung Ka-long claimed Hong Kong’s first gold medal in fencing. With two golds in fencing at the Paris Olympics, Hong Kong is among the top 20 achievers in terms of Olympic gold medals won on a per capita basis.
Ranked 37th on the Paris Olympics medal table and outperforming other Asian economies with much larger populations, Hong Kong’s stellar performance is attributable not just to the determination and high calibre of its athletes, but also funding support from the government.
In 2024-25, the government has provided HK$5.7 billion in funding for recreational and sports facilities for the community. For elite athletes, the government has increased funding for the Elite Athletes Development Fund to HK$941 million, a 40 per cent rise over five years ago.
Since Cheung’s fencing win in 2021, the government and the Hong Kong Jockey Club have jointly established a Sports Science and Research Funding Scheme amounting to HK$300 million to help athletes enhance their performance. When it comes to supporting athletes, the government is unquestionably doing the right thing and spending its money well.
The success of Cheung and Vivian Kong Man-wai has set off a fencing frenzy among children. The continued improved performance of Hong Kong’s athletes across diverse fields, including golf and tennis, has boosted enthusiasm for sports.
Sports Park Sai Sha in the New Territories, the first of its kind to be developed by a private company, will open later this year. Together with Kai Tak Sports Park, it will provide a quantum leap in the number of sports facilities available to both elite athletes and sport enthusiasts in the community.
As some of our top athletes retire, Hong Kong may not repeat the same level of success in the next Olympic Games. But the abundance of facilities, financial support and a heightened enthusiasm for sports should bode well for Hong Kong’s long-term sports development.
上周五（8月9日），我獲邀為《南華早報》的“Re-defining Hong Kong” Conference擔任主題演講嘉賓。我十分感謝《南華早報》的邀請，讓我有機會分享對「重塑香港(Re-defining Hong Kong)」的看法，這議題很接近我心中所想，現以本文和各位讀者分享我的想法。
最近，中央官員經常鼓勵香港要識變求變、重新定位、勇於再創新，我十分認同，事實上，我們周圍充滿推動改變的催化劑。
地緣政治方面，由美西方主導的「以規則為本的秩序(Rules-based Order)」或「自由國際秩序(Liberal International Order)」所劍指的價值，正面對日漸強大的質疑。新的地緣板塊或陣營，例如上海合作組織(Shanghai Cooperation Organisation)和金磚國家集團(BRICS)，正在擴充、聚合新成員、強化經濟影響力。
簡而言之，由一個超級大國主導的單極世界即將終結，我們將邁向全新的時代。如此一來，超級大國會感到不安、緊張，因為要維持其王者地位而作出的種種行為，會令局勢愈發緊張，拖累發展。
作為細小而高度外向的開放型經濟體，香港站在與境外力量緊密勾纏的最前沿。中國加入世界貿易組織(World Trade Organisation)後經濟起飛，對多方面的專業服務均有龐大需求，香港的服務型經濟隨之翱翔，金融財經、商貿、專業服務、零售及旅遊業均大豐收，房地產市場更是一飛衝天。
我認為國家已為香港提供了很便利的切入點——「一帶一路」。我已向行政長官建議，香港應和其他大灣區城市合作，爭取主辦第一屆「一帶一路運動會」。此外，香港運動員在巴黎奧運取得驕人成績，香港應趁此勢頭，帶頭以體育盛事來和世界建立友誼、加強聯通、激發創新和刺激增長。
說到大灣區，香港發揮著關鍵性的現化代窗口作用。因應世界級交通基建加速融合，在大灣區下一個發展階段裏，香港將受惠於和內地科技企業的合作，在金融財經、法律、專業服務，以至教育、技術相關範疇等各方面，為大灣區其他城市提供更高端、更具價值的服務。
作為國際金融中心，香港因為周期性和地緣政治的因素，其融資平台的功用近期有所減弱，但這反而加速香港轉型為金融創新中心。
香港維持在財富及資產管理、保險及風險管理的傳統優勢，並且在綠色債券及家族辦公室方面有長足發展。自去年6月，香港成為中國境內唯一推出發牌制度，以規管貿易、投資和管理虛擬資產的地方。最近亦就訂立穩定幣(Fiat-referenced Stablecoin)發行人監管制度啟動諮詢。香港持續創新及優化金融基礎設施，包括推出「數碼港元(e-HKD)」先導計劃、與泰國開始跨境二維碼支付互聯，以及發展資產代幣化(Asset Tokenisation)市場等等。
還有，香港仍然是全球最大的離岸人民幣業務樞紐，對於人民幣國際化有著舉足輕重的作用，透過多項互聯互通計劃，推出更多人民幣計價產品(CNY-denominated Products)，擴大數字人民幣在香港的跨境試點。香港亦有效協助中國及世界其他地方推動電子支付系統，以應對美國濫用美元的霸權式增長。
很多中國科技巨企及製造業集團均在海外設有分部，規模較細的企業則力爭直接在海外發展業務，反映中國依然投入於全球化進程，香港則有能力協助國家企業「走出去」，這是很好的定位。
香港從來都是中國不可分割的一部分，我們對於香港的身份認同沒有疑惑。我們喜歡的點心、功夫、月餅、舞獅和大戲，都源於祖國。從地理上來說，香港是中國的南大門，香港和深圳的分界線只是行政措施。過去150年來，香港主要是和西方打交道，如今透過《基本法》的承諾和保障，香港是中國境內一個「與別不同」的地方！香港擁抱普通法制度，具穩固的法治基礎，有《基本法》保障人權、自由，而且是國內最具國際化氛圍的城市。香港的「與別不同」，為國家作出很大貢獻，「一國兩制」的成功實踐，更是為世界作出貢獻！對於「重塑香港」，香港要做的就是更堅定地、更主動積極地，推動國家深化改革和現代化發展。這條道路不會平滑無阻，我們已經準備就緒！
早前，我率領海上絲綢之路協會的商貿代表團前往廣西，視察當地的最新產業發展。來到廣西，行程當然少不了遊覽風景如畫的桂林。
正所謂「桂林山水甲天下」，秀麗的自然風光及獨特的少數民族風情，讓桂林成為中國最早對外開放的旅遊城市之一，向來是中國旅遊業的風向標。
令我驚訝的是，以旅遊城市而言，桂林的生活成本並不高昂。當地居民的月薪大多在3000 至5000 人民幣之間，由於物價低廉，這般工資已足夠當地人過上小康生活。
隨行導遊告訴我，桂林的樓價相對其他內地城市要低，即使在最值錢的灕江河畔，1000 呎的單位售價只需約80 萬人民幣。
行程中，我特意抽時間到桂林當地的商場購物掃貨。放眼望去，映入眼簾的商舖多以國產品牌為主，反而鮮見海外的名貴品牌。比起香港的貴價品牌時裝，桂林的服裝價格只需100 多元。在商場內逛了一圈，找到最名貴的品牌就是安踏體育用品，我買了3 件恤衫，只花費1000 多人民幣，性價比相當高。
經濟發展方面，作為一個超級旅遊城市，旅遊產業的收入佔桂林本地生產總值約八成。過往，有不少如製藥、紡織及機械製作的企業在灕江兩岸設廠，工廠的運作讓附近生態環境一度惡化。為了確保桂林的旅遊業能夠行穩致遠地發展，當地政府正積極將市區的工廠遷至遠離灕江的市郊，希望發展綠色旅遊的同時，振興鄉村經濟。目前，有不少落戶當地的工廠已陸續推動綠色轉型，減少環境污染，同時提升工廠的產能。
下期將繼續介紹桂林市企業的綠色轉型過程。
Development of the tourist city Guilin
Earlier, I led a business delegation from the Maritime Silk Road Association to Guangxi to inspect the latest industrial developments in the region. When in Guangxi, our itinerary naturally included a visit to the picturesque city of Guilin.
As the saying goes, "Guilin's scenery is the best under heaven." The beautiful natural landscapes and unique ethnic minority customs have made Guilin one of China's earliest tourist cities to open up to the world, always setting the trend for China's tourism industry.
What surprised me was that, as a tourist city, the cost of living in Guilin is not prohibitively high. Most local residents earn monthly salaries ranging from 3000 to 5000 RMB. Due to the low cost of living, these wages are sufficient for locals to lead a comfortable life.
Our tour guide informed me that property prices in Guilin are relatively lower compared to other mainland cities. Even along the valuable Li River, a 1000 square foot unit sells for only around 800,000 RMB.
During our trip, I made a point to visit local markets in Guilin for some shopping. Looking around, most of the stores predominantly feature domestic brands, with few high-end international brands in sight. Compared to the expensive luxury brands in Hong Kong, clothing prices in Guilin are only around 100 RMB. After browsing through the mall, the most expensive brand I found was Anta sportswear. I bought 3 shirts for just over 1000 RMB, which was quite cost-effective.
Economically, as a super tourist city, tourism revenue accounts for about 80% of Guilin's local GDP. In the past, many industries such as pharmaceuticals, textiles, and machinery were established along both banks of the Li River, leading to environmental degradation in the vicinity. To ensure the sustainable development of Guilin's tourism industry, the local government is actively relocating factories from the city center to the outskirts away from the Li River. They aim to promote green tourism while revitalizing the rural economy. Currently, many factories that have relocated to the area are gradually undergoing green transformations, reducing environmental pollution while increasing production capacity.
In the next update, I will continue to introduce the green transformation process of Guilin's local businesses.
Keynote Speech by the Honourable Mrs. Regina Ip, GBM, GBS, JP At the SCMP “Re-defining Hong Kong” Conference
9 August 2024
CEO Catherine, Tammy, Jasmine, Distinguished Guests, Ladies and Gentlemen,
I wish to thank SCMP for giving me the opportunity to talk about “Re-defining Hong Kong”, a subject very close to my heart. I have been thinking hard about it for a while, not just because central government officials have been urging Hong Kong to get a handle on change, implying a need for re-positioning and and re-invention, but also because the catalysts for change are all around us.
Hong Kong has in the past done well coping with change and, in the process, transformed itself. Hong Kong’s history is an admirable story of successful re-invention in the face of change. The city is now at a major inflection point. The changes it is facing are far more consequential than any it has seen.
At this juncture, the world is facing a great reversal of the forces for liberalisation and globalisation that have generated undreamed-of wealth for China and other emerging economies. The institutions created by the victors of the Second World War, supposedly built to bring lasting prosperity and peace, are weakening. Trade rules are being flouted with impunity. Export controls, subsidies and industrial policy aimed at building “homeland economy”, come what may, are upending the old market-based economic order.
On the geopolitical front, the so-called “rules-based order”, or “liberal international order”, championed by the US-led West, is facing growing scepticism about the interests they purport to serve. New geopolitical groupings, such as the Shanghai Cooperation Organisation and BRICS, are gathering new members and growing in influence and economic clout.
Simply put, we are entering an era were unipolar domination by a single superpower is coming to an end. As this happens, the ruling power’s sense of insecurity, anxiety, and the urge to regain primacy are setting off tensions that will likely be a drag on growth for many years to come.
As a small but highly externally oriented economy, Hong Kong is at the forefront of collision with evolving external forces. Following China’s economic take-off after its accession to the World Trade Organisation, Hong Kong’s service economy soared. Hong Kong benefited from China’s vast demands for service in multiple areas. Hong Kong’s financial, business, professional, retail and tourism services had a field day. The city’s property market skyrocketed.
Now that China has embraced a different economic model based on “new quality productive force”, that is, growth driven by innovation and technology as opposed to high-speed growth, Hong Kong needs to re-calibrate its roles and re-position itself in the new geopolitical landscape.
Despite geopolitical tensions, Hong Kong should strengthen its “separate systems” characteristics, both in substance and in messaging, and mobilise its vast resources in and outside government to reach out to its traditional developed world partners in North America, Europe, Asia and Australia.
The constant drumbeat of sanctions and twisted narratives on Hong Kong should not deter Hong Kong from engagement. Through fearless engagement - discussing, debating and arguing face-to-face - the real Hong Kong story will be powerfully told.
While it may be beyond difficult to move the mountain of Sinophobia and hostility in some quarters in the West, Hong Kong should fully utilise its knowledge of western culture, values and norms, and the extensive networks it has built up to help China build common ground with Western countries, and reduce misunderstandings.
Whereas Hong Kong had in the past prioritised doing business with the English-speaking world, it is high time for Hong Kong to re-orient itself to the diverse and multi-cultural non-English speaking sphere, whether in the Middle East, Eastern Europe, or elsewhere. It should start by broadening its language skills and cultural mindset, so that it can dive deep into building meaningful relationships with peoples and businesses from different parts of the world.
To this end, our motherland has provided Hong Kong with a convenient entry point - through the Belt and Road Initiative (BRI). To leverage our central location in the Belt and Road orbit, I have recommended to the Chief Executive that Hong Kong should work in conjunction with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to host the first Belt and Road Games. Riding on its stunning achievements in the Paris Olympics, Hong Kong should take the lead in using mega events in sports to build friendship, strengthen connectivity, spur innovation and stimulate growth.
In regard to the Greater Bay Area, Hong Kong has played a pivotal role as an agent for modernisation. In the next stage of development of the GBA, which is marked by accelerating integration enabled by world-class transport infrastructure, Hong Kong will benefit from partnership with tech enterprises in the mainland. Hong Kong will need to move up the value ladder to provide higher value-added services to producers in GBA cities, in financial, legal and professional, educational and technology-related areas.
Hong Kong’s open markets, free flow of information, and cluster of internationally renowned schools and universities will enable it to become a magnet for global talents. Since the HKSAR Government introduced new schemes for the admission of global talents and streamlined procedures last year, the government has received 340,000 applications and approved 210,000. By the end of June, about 130,000 applicants have arrived. The enthusiastic response testifies to Hong Kong’s attractiveness as a talent hub. I warmly welcome these newcomers to our city. They will bring new ideas, fresh perspectives, and broaden our city’s skills base. They will help provide the skilled manpower we need for the industries of the future.
Where Hong Kong’s position as a global financial hub is concerned, the recent weakening of Hong Kong’s role as a fund-raising platform, owing to cyclical and geopolitical factors, has accelerated Hong Kong’s transformation into a financial innovation nerve centre.
Hong Kong maintains its traditional strengths in asset and wealth management, insurance and risk management, and has made significant progress in the issuance of green bonds and establishing its position as a family office hub. Since June last year, Hong Kong has become the only part of China that has introduced a regulatory regime for trading, investing and managing virtual assets. It has recently started consultation on the regulatory regime for fiat-referenced stable coin issuers. Hong Kong continues to innovate and enhance its financial infrastructure, introducing new pilot schemes for use of e-HKD for retail, cross-border QR payment with Thailand and setting standards for developing a tokenisation market.
Above all, Hong Kong remains the largest offshore RMB pool and plays a critical role in the internationalisation of the CNY, through various “connect” schemes, launch of more CNY-denominated products and pilot schemes for cross-border e-CNY payments. As jitters about the US’s abuse of its dollar dominance grows, Hong Kong does well in assisting China and other parts of the world to introduce electronic payment systems.
Many of China’s tech giants and manufacturing powerhouses have established a foothold overseas. But scores of other lesser ones are striving to globalise themselves by going outside China. China is committed to globalisation and Hong Kong is well positioned to assist Chinese enterprises to reach out to the world.
Let there be no doubt about Hong Kong’s identity. It has always been an inalienable part of China. Our favourite dim sum, king fu (martial arts), moon cakes, lion dance and Cantonese opera all came from China. Our boundary with Shenzhen is an artificial administrative partition. In terms of geography we are at one with southern China. But through more than 150 years of interaction with the West and the institutional guarantees in the Basic Law, Hong Kong is a DIFFERENT part of China, with strong rule of law based on the common law system, protection of fundamental rights and freedoms as provided in the Basic Law, and the most international environment throughout China.
Hong Kong contributes to the nation by being different, and to the world by proving the success of “One Country, Two Systems”. If Hong Kong needs any re-definition, it’s future lies in playing an even more robust role in pushing China’s modernisation and deepening reform. It won’t be a glide path forward, but we are ready.
Thank you for listening to me.