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Tammy Tam

“Will Beijing one day give up Hong Kong and replace it with Shanghai or any other major Chinese city?”
This was the question raised during a recent gathering with a group of Hong Kong-based foreign guests – neither unexpected nor surprising, but a question that is asked more frequently these days.
The worry remains. Is Hong Kong losing its edge? How committed is Beijing to keeping its promise to maintain the “one country, two systems” policy of governing this city?
However, the flip side of the coin poses a counter-question: why should Hong Kong be more special than the rest of the country? And what should Hong Kong do to convince Beijing that it must be the case?
My answer to the question raised at the gathering was, “I don’t think Beijing has such an intention because it will do no good to either side.”
I believe that realistically, no other city in China can simply replace Hong Kong because of the two-systems arrangement. But the elephant in the room is the matter of how Hong Kong can justify that it deserves this special status.
Interestingly, on the day of that gathering, Beijing’s top envoy in Hong Kong, Zheng Yanxiong, openly called for this capitalist city to shift from its usual role as a “superconnector” to one as a “super moneymaker”.
Hongkongers have long been seen by their mainland compatriots as moneymakers – the city knew how to get rich, thanks not only to its good business sense, but also its free and investment-friendly environment. Now, facing reality requires a collective effort for economic development involving every stakeholder for Hong Kong to survive and grow.

Zheng, a Guangdong native who speaks Cantonese, chose the colloquial term “fat choi” to refer to the prosperity he wants Hong Kong to pursue, drawing from the Lunar New Year greeting “kung hei fat choi” that locals are so familiar with. His call for the city to focus on the economy echoed the advice of Xiao Baolong, Beijing’s top official overseeing Hong Kong affairs, during a fact-finding visit earlier this year.
July 1 marks the 27th anniversary of Hong Kong’s return to Chinese sovereignty, and the second anniversary of Chief Executive John Lee Ka-chiu’s administration.
Zheng’s message was telling: he reaffirmed Beijing’s unchanged promise to maintain the one country, two systems policy while he also urged Hong Kong to safeguard its own unique features and keep them “unchanged”. Those unique features – strong connectivity with the outside world, the rule of law and common law system, and rich culture – are what differentiate Hong Kong from its mainland peers, and what the city should spare no effort to preserve.
Lee remains upbeat about navigating Hong Kong through troubled waters. Staying confident and being pragmatic are not mutually exclusive.
The debate about Hong Kong’s future, and whether it is indeed “over”, as some critics have suggested, is likely to continue. But those who disagree with the doomsday narrative would do well to counter it with a deliverable “fat choi” or winning strategy and prove that it will not happen, just like it has never happened in the past, no matter how loud the naysayers.
At the end of the day, identifying Hong Kong’s “super moneymaker” role and making it actually happen are two different things, especially amid wider geopolitical and economic uncertainties. While mainland China is making a paradigm shift towards high-quality economic development, whether Hong Kong can turn headwinds into tailwinds at this difficult time may provide better answers.


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Hong Kong has been urged to safeguard its unique features and keep them “unchanged”. Jelly Tse

Hongkongers have long been seen by their mainland compatriots as moneymakers. Photo: Jelly Tse

‘Superconnector’ Hong Kong should shift to ‘super moneymaker’: top Beijing official in city

Zheng Yanxiong also expressed his hope for the city to “wield the sharp sword of the rule of law” and act as the guardian of national security. Photo: Yik Yeung-man

Zheng Yanxiong (left) shakes hands with Legco president Andrew Leung during the lunch session. Photo: Yik Yeung-man

Hong Kong should use its ‘super roles’ to help nation become financial powerhouse, top Beijing official in city says

The remarks from liaison office chief Zheng Yanxiong echoed an earlier call from Chinese Premier Li Qiang for Hong Kong to play to its “strengths”. Photo: Sun Yeung

Zheng Yanxiong, director of the central government’s liaison office in Hong Kong, meets city delegates to the NPC on Tuesday. He emphasised that finance was the lifeblood of the country’s economy. Photo: Handout

News

Hong Kong

Society

Identifying Hong Kong’s role and making it actually happen are two different things, especially amid wider geopolitical and economic uncertainties


Identifying Hong Kong’s role and making it actually happen are two different things, especially amid wider geopolitical and economic uncertainties.


Hong Kong politics

Greater Bay Area

Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Column

City Beat

Can Hong Kong be a ‘super moneymaker’ to remain distinct from other Chinese cities?

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Identifying Hong Kong’s role and making it actually happen are two different things, especially amid wider geopolitical and economic uncertainties

Identifying Hong Kong’s role and making it actually happen are two different things, especially amid wider geopolitical and economic uncertainties