HKETO Newsletter December 2020
Dear friends,
The world is still in the grips of the COVID-19 pandemic with a noticeable impact on our daily lives. Apart from presenting a public health risk, it limits our social contacts with families and friends as well as business activities, bringing a heavy burden on the global economy. Nevertheless, we have learned to adapt and fight back. Meetings are being held virtually, people are adopting flexible home office arrangements, and scientists are hitting steady strides in finding a vaccine that effectively tackles the virus.
Despite the pandemic, we are still seeing many successful stories and promising developments. The HKSAR Government’s approach of responding promptly, staying alert to the situation, and working in an open and transparent manner has worked well. The flow of people to and from Hong Kong was reduced swiftly after the outbreak, measures have been taken and are constantly adjusted in response to the prevailing situation to prevent the import of cases. Testing for COVID-19, quarantine arrangements and isolation and treatment facilities were enhanced. And Hong Kong people contribute a great deal to making it all work by sticking to social distancing measures. As a result, throughout the past months, Hong Kong has often reported only single-digit numbers or even zero cases of infections on a daily basis.
Another important development was the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (National Security Law) passed on June 30, 2020, which marked an important step to restore stability from the series of social unrest and protests since June 2019. The Law is conducive to safeguarding national security, as well as the long-term stability and safety of Hong Kong. The Law targets a minority of persons endangering national security while the life and property as well as various lawful basic rights and freedoms enjoyed by the HKSAR citizens at large are protected. It certainly promotes stability in Hong Kong’s business and investment environment.
In September, we once again received the good news that the Fraser Institute continued to rank Hong Kong as the world's freest economy in the Economic Freedom of the World 2020 Annual Report. Hong Kong has gained the top rank since the inception of the report. Among the five areas of assessment, Hong Kong was ranked top in "Freedom to Trade Internationally" and "Regulation". Hong Kong will continue to thrive as an open, resilient and international city.
To this end, the Chief Executive Mrs Carrie Lam has just presented her Policy Address, highlighting the Government’s priorities in the year to come. The Policy Address seeks to restore Hong Kong’s constitutional order, consolidate and enhance Hong Kong’s strengths and diversify its economic development, and build on our past efforts to continue to improve people’s well-being.
You will find more information on her Policy Address in this newsletter as well as useful insights into the latest developments in Hong Kong and more updates on the activities of my Office!
Enjoy reading,
Bill C P Li
Director, Hong Kong Economic and Trade Office, Berlin