Patriots administering HK brings prosperity

The central authorities' move to reform the electoral system of Hong Kong based on the principle of "patriots administering Hong Kong" is aimed at maintaining the special administrative region's prosperity and stability.

Those administering Hong Kong should not only have an international vision but also a deep sense of patriotism. The improvement of Hong Kong's electoral system will ensure the smooth functioning of the SAR government by eliminating the space for secessionists, subversives and radical localists to mislead people at the behest of their foreign patrons.

Some non-patriots in Hong Kong's administrative and judicial systems, by fanning political passions and advocating violence in 2019, trampled upon the rule of law, fractured the social order, undermined the SAR's prosperity and stability, and challenged the bottom line of the "one country, two systems" principle.

Violating the fundamental principle of "one country, two systems", they colluded with external anti-China forces to trigger a "color revolution", in an attempt to destabilize Hong Kong, paralyze the SAR government, and sabotage the Chinese mainland's development. No responsible government would sit idle and allow this to happen again. Therefore, the central authorities acted timely and decisively by pushing Hong Kong's electoral system reform.

Hong Kong must be governed by patriots in the post-electoral system reform period to ensure the principle of "one country, two systems" is adhered to. Only by ensuring that the principle of "patriots administering Hong Kong" is followed can the central government help Hong Kong use its advantages to expand its space for development, promote innovation, make more contributions to the motherland, and deepen its bonds with mainland compatriots.

Without political stability and the participation of patriots familiar with State affairs and having a global vision in the SAR's administration, Hong Kong cannot bring greater benefits to either its residents or foreign investors. For many foreign institutional investors, investing in Hong Kong, especially in mainland companies listed on the Hong Kong Stock Exchange, is akin to investing on the mainland and sharing the dividends of the mainland's steadily growing economy.

Therefore, as an international financial and logistics hub through which foreign investors can avail of more opportunities to invest in the mainland, Hong Kong should follow the principle of patriots administering Hong Kong, so as to create more opportunities for foreign investors which incidentally will also boost the city's development.

With more patriots participating in its administration, Hong Kong will be able to seize more opportunities created by the central government's policies. The patriots will also help the SAR develop into a more active platform for the Belt and Road Initiative, explore new markets in Belt and Road countries, and expand its economic and trade cooperation, and personnel exchanges with them.

It will also encourage more enterprises from Belt and Road countries to list on the Hong Kong Stock Exchange, motivate their public institutions to issue bonds in Hong Kong, prompt more foreign companies to set up regional headquarters in the SAR, which in turn will help raise more development funds for the Belt and Road Initiative and create more employment opportunities for Hong Kong residents and boost the city's development.

The participation of more patriots in the SAR's administration will also help people from all walks of life in Hong Kong to seize the new economic growth momentum, share the dividends of the mainland's growth, and lead the city on a new road to development.

More important, Hong Kong can truly benefit from the mainland's market of 1.4 billion people and integrate into the Guangdong-Hong Kong-Macao Greater Bay Area only by adhering to the principle of "patriots administering Hong Kong". With the novel coronavirus pandemic unlikely to be contained in the European Union and the United States in the short term, the continued economic slump will further weaken the demand for imported goods in the European and US markets. As such, Hong Kong's exports to the EU and US markets are expected to see low, if not negative, growth.

In contrast, the mainland's economy is back on the growth track, and domestic demand is gradually rebounding. "Patriots administering Hong Kong" will help Hong Kong residents to expeditiously integrate with the Greater Bay Area and capitalize on the new opportunities created by the mainland's steady economic development, and thus improve their livelihoods and put Hong Kong firmly on the road to greater prosperity.

The author is chairman of Guangzhou-based Silk Road iValley Research Institute.

The views don't necessarily reflect those of China Daily.