(Photo: CGTN)
China will build the southern city of Shenzhen into a pilot demonstration area of socialism with Chinese characteristics, according to a document published by the Communist Party of China Central Committee and the State Council on Sunday. The announcement set off heated discussion among Hong Kong residents. Some said that the implementation of the Guangdong-Hong Kong-Macao Greater Bay Area plan will bring tremendous development opportunities for cities in the region. Many others argued that Hong Kong should fix its divided society and restore social order to benefit from those opportunities and build a prosperous future with other cities.
Hong Kong local newspaper Ta Kung Pao published a commentary on August 19 and said that Hong Kong has been playing an important role as a "window" to China for many years. Hong Kong's strengths lie in its rule of law and openness, but ongoing violent protests and demonstrations are damaging those traits. If Hong Kong continues to indulge in violent demonstrations and internal struggles, it will put at risk not only its economic development and international reputation, but also the future for the next generation. The best option for Hong Kong is to focus on the economy, improve people's livelihood, take opportunities from the “Belt and Road” initiative and GBA, and participate in overall national development.
The Hong Kong Commercial Daily pointed out that focusing on development is the core issue for Hong Kong and is the best solution for resolving its social disfunction. Hong Kong should jointly seek development with other cities and play to its strengths. While the neighboring city of Shenzhen is contributing to the development of the GBA as a pilot demonstration area, Hong Kong is now caught up in a mess of unlawful activities and violence. The article also warned that the current chaos in Hong Kong will hinder the city's future development and even that of the GBA.
Sing Tao Daily said that the rule of law in Hong Kong has been dented by the escalation of violence, its status as an international financial center is being challenged, while its reputation as an international shipping center has also been affected. What is even more worrying is that some radical demonstrators believe that they will draw attention and even solve problems through their "self-harm" movement. It is extremely unwise. It is development, not internal struggles or stagnation, or even retrogression that will solve the existing problems in Hong Kong’s economy and governance.
Lau Pui-King, an economist in Hong Kong, said after the release of the document, Shenzhen will make great progress through innovation, opening-up, social governance and urban reform in the future. Compared to Shenzhen, Hong Kong has many advantages in development. However, the ongoing protests in Hong Kong have largely limited those advantages. She said with the central government's strong support for Shenzhen's opening-up, Hong Kong can boost its cooperation with the neighboring city. However, Hong Kong must first stop violence and other law-breaking activities so as to avoid further damage to its economy, social order and international image.
Liang Haiming, Hong Kong economist and chairman of China Silk Road iValley Research Institute, said that if the chaos continues in Hong Kong, it will seriously affect its economic and financial development and shake its status as an international financial center. Shenzhen has great potential to do more in financing in the future, whether in financial innovation, special finance, or in the internationalization of the RMB. Under such circumstances, Hong Kong must take measures to curb the violence as soon as possible. As long as the majority of Hong Kong locals reach a consensus and focus on economic development and people's livelihood, Hong Kong will still be a uniquely blessed land in the future.
Ronald Wan, a seasoned investment banker in Hong Kong, said that Hong Kong needs to get back on track of economic development, utilizing regional advantages and teaming up with cities like Shenzhen to bring its economy to a new level and to play an important role in the development of the GBA.
In the eyes of some Hong Kong entrepreneurs in Shenzhen, the plan to build Shenzhen into a pilot demonstration area will not only create more opportunities for them, but also set a new direction for the joint development of Shenzhen and Hong Kong.
Lee Tak-Ho, who started his own business in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, said that the building of the demonstration area will turn Shenzhen into a more open and international city, while Hong Kong start-ups in Shenzhen will have better opportunities and a bigger platform.
Huang Peng, who opened a logistics company in Shenzhen and Hong Kong, said that forward thinking would promote the integration of financial markets in Shenzhen, Hong Kong and Macao, and bring convenience to residents of Hong Kong and Macao who live and work in Shenzhen. Hong Kong should restore order as soon as possible, focus on economic development and people's livelihood, strengthen exchanges and cooperation with Shenzhen and develop by expanding the market with Shenzhen.
(With input from Xinhua. Compiled by Ryan Yaoran Yu and Elaine Yue Lin.)