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Hong Kong Stocks a Buy

Carrie Lam, the chief executive of the Hong Kong Special Administrative Region (HKSAR), said on Saturday that she was confident that Hong Kong will thrive and soar higher with the full support of the central authorities.

Lam made this remark at the Hong Kong Session of China Development Forum 2021, themed “The Development of Hong Kong in the Next Five Years”, held online on Saturday evening.

Lam said that her confidence in Hong Kong and its future development is grounded in two major decisions made by the National People’s Congress (NPC), the enactment of the Law of the People’s Republic of China on Safeguarding National Security in the HKSAR in June 2020 and the decision to improve the HKSAR’s electoral system to implement “patriots administering Hong Kong” adopted recently.

“These two important decisions by the highest organ of state power have put Hong Kong back on its right track, that is, fully and faithfully upholding ‘one country, two systems’, safeguarding national security and ensuring Hong Kong’s stability and prosperity,” she said.

Lam said that her confidence is further boosted by the support given by the central government to Hong Kong as embedded in the 14th Five-Year Plan for National Economic and Social Development (the 14th Five Year Plan) approved by the NPC recently.

Noting that the 14th Five-Year Plan reaffirms support for Hong Kong to enhance its status as an international financial center and strengthen its role as a global offshore Renminbi business hub, an international asset management center and a risk management center, Lam highlighted that Hong Kong’s strengths in innovation and technology development was recognized in the national plan.

She elaborated on the achievements of Hong Kong as an international financial center and an innovation and technology hub and stated that many initiatives put in place by the HKSAR government, many with the support of the central government, will further boost their development down the road.

Pointing out that Hong Kong’s future lies in integration with the mainland economy, while maintaining her uniqueness under “one country, two systems”, Lam said that Hong Kong will proactively become a participant in domestic circulation and a facilitator in international circulation amidst the “dual circulation” development strategy of the country.

The forum was hosted by the Development Research Center of the State Council and organized by the China Development Research Foundation annually since 2000. This year’s forum was held both online and onsite at the Diaoyutai State Guesthouse in Beijing from March 20 to 22. The Hong Kong Session was held for the first time and attended by over 30 invited global business leaders.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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