China's national flag and the flag of the Hong Kong Special Administrative Region on the Golden Bauhinia Square in Hong Kong, south China. Photo by: Xinhua/Wu Xiaochu)
China's national flag and the flag of the Hong Kong Special Administrative Region on the Golden Bauhinia Square in Hong Kong, south China. Photo by: Xinhua/Wu Xiaochu)

National security legislation crucial to stability, order in Hong Kong

By Xinhua Time of article published Jun 22, 2020

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Chief Executive of China's Hong Kong Special Administrative Region (HKSAR) Carrie Lam said Monday that the national security legislation for the HKSAR is crucial to restoring constitutional order, maintaining stability, and supporting corporate and individual confidence in Hong Kong.

Lam stressed the significance of restoring order and rebuilding confidence to Hong Kong's recovery from social unrest and the Covid-19 epidemic in a video speech at the "Caixin Summer Summit 2020" held in Beijing.

Hong Kong's international reputation and stable business environment have been influenced substantially, Lam said, adding that there was an 8.9 percent GDP drop in the first quarter in Hong Kong, the largest year-on-year drop on record.

Despite the situation, Lam expressed optimism about Hong Kong's prospects and stressed that Hong Kong will still be full of business opportunities as long as it gives full play to the advantages under "one country, two systems" and restores peace and order after cracking down on criminals endangering national security.

Hong Kong will grasp the opportunities of the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development to recover to the previous level and even make further progress, Lam said.

Lam vowed efforts to make good use of favourable policies of the Greater Bay Area development, in particular in the financial sector.

Financial Secretary of the HKSAR government Paul Chan also made a video speech at the forum and said Hong Kong will use its unique edge under "one country, two systems" to improve its competitiveness and achieve long-term development.

The forum running from Sunday to Tuesday was organised by Caixin Media Company, with the theme of "Restoring Global Confidence."

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