Govt Report Says HK Has Risen Again After US Damage

The SAR government issued a report on Monday blaming the US and “black-clad violence” in 2019 for hurting Hong Kong's business environment, and praising the national security law for restoring order and the city's prospects.

The 68-page “Report on Hong Kong’s Business Environment” is the first of its kind ever published by the government.

A whole chapter is devoted to how violent protests in 2019 and what it says were actions by the US against the SAR dealt a blow to the city’s economy and business environment.

The report says the US strategy of suppressing China caused serious disruption to the SAR. It accuses the US of inciting and supporting “black-clad violence”, imposing “blatantly unreasonable sanctions” on Hong Kong and mainland officials, as well as putting pressure on multinational enterprises operating in the territory.

“With the change in the global economic landscape, the US is anxious about the rise of China. The US even uses Hong Kong as a pawn to suppress China’s development and takes unjustifiable and extreme measures on issues related to Hong Kong, casting a shadow on Hong Kong’s business environment.”

The report points fingers at think tanks and business organisations such as the Heritage Foundation and the Fraser Institute, saying they made "unjustified and negative assessments" of the city.

But the report stresses that the national security law and the electoral system overhaul under the principle of “patriots administering Hong Kong” have restored stability and safeguarded the business environment here, citing a 4.6 percent drop in the total number of crimes in the first half of 2021 compared to the same period a year ago, a rebound in the economy and a falling unemployment rate.

The report also says with the opportunities brought about by the national 14th five-year-plan and the Greater Bay Area, Hong Kong will have new impetus for economic development.

Financial Secretary Paul Chan said the report is primarily aimed at clarifying misinformation about Hong Kong over the past two years.

“In respect of those misleading information and incorrect observations or even sometimes deliberate malicious attacks on Hong Kong, we are duty-bound to set out the facts so as to enable the business sector and the international community to better understand the situation here,” he said.

In a statement, a spokesperson for the Foreign Ministry office here in Hong Kong also welcomed the report, saying it shows that the business climate in the SAR remains energetic and "rebuts the doomsaying from some Western countries about Hong Kong's business conditions".

"Going forward, Hong Kong has many more opportunities to enjoy from the 14th five-year Plan, the Greater Bay Area, and major platforms such as Qianhai and Hetao. To all global investors: Hong Kong is a place you must not miss!" the spokesperson said.

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