SCIO briefing on current situation in Hong Kong
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E-mail China.org.cn, July 30, 2019
CNBC:
First question is (that) does the situation in Hong Kong affect the financial industry's daily operations or the future development. I'm interested in what's the central government' view on this. Second is (will) Carrie Lam is going to resign as many have reported and third is what is the central government doing to ensure public security and what kind of cooperation is the government doing with the local operations, whether it's individuals or organizations and whether the debate around electoral reform will be reopened as a way to relieve tensions. Thank you.
Xu Luying:
Thank you for your question. A favorable business environment is crucial to Hong Kong. So far, we have seen that Hong Kong maintains a good business environment, even though the recent radical violence has impinged on the social order and international image of Hong Kong. We have noticed that the Hong Kong Retail Management Association recently stated that most of its members have seen a significant sales decline over the past month. The data released by the City University of Hong Kong also revealed the consumer confidence index in Hong Kong had fallen to its lowest level in five years. The tourism industry has also reported the number of tourist groups visiting Southeast Asia has been declining recently. It is expected to drop by more than 70% at most. I believe this is only part of the situation but it is a warning and deserves deep thought by the Hong Kong community.
As for the impact on the financial sector you mentioned, it is not obvious from the data. However, I think that for an export-oriented small-scale economy like Hong Kong, in such a complex and volatile international economic environment, if the business environment and confidence level decline, the external risks faced by the financial sector will naturally increase. Therefore, we also maintain that the top priority is to punish violent criminals according to law, restore social order as soon as possible, and maintain a favorable business environment in Hong Kong. This is of paramount importance.
As for your second question, the reporter with the South China Morning Post has asked about that just now. so, I will not repeat my answer.
Regarding the third question, whether the central government will change the election mode, the electoral method in Hong Kong is stipulated by the Basic Law of the HKSAR and the relevant supporting laws. We must abide by the law, now and in the future, in order to continue developing a democratic system suitable for the actual situation of Hong Kong by stages. The central government's standpoint on this issue will not change. Thank you.
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