HK to play super-connector for China's "Belt and Road": Chief Executive

(CYLeung,theChiefExecutiveoftheHongKongSpecialAdministrativeRegion,acceptsaninterviewofAsiaPacificDaily.)

HongKongshouldintensifyitsroleasthe"super-connector"linkingtheChinesemainlandandtherestoftheworld,andgrasptheopportunityoftheChina's"OneBelt,OneRoad"initiativetoboostitseconomy,saidLeungChun-ying,ChiefExecutiveofHongKongSpecialAdministrativeRegion(SAR).

TheSARgovernmentshouldabandonoutdated"positivenon-intervention"mentalityofeconomicdevelopmentamidincreasingcompetitionwithneighboringeconomies,saidLeungduringarecentexclusiveinterviewwithXinhuaatGovernmentHouse,thechiefexecutive'sofficialresidence.

Itwasthefirsttimeforthechiefexecutivetoacceptaninterviewafterauniversalsuffragemotionfortheregion'sconstitutionalreformwasvetoedbyoppositionlawmakersoftheSARLegislativeCouncilinJune.

TheSARgovernmenthassincethenpledgedtofocusonpromotingtheregion'seconomicdevelopmentandimprovinglivelihoodoftheHongKongpeopleintheremainingtwo-yeartenure.

"Wespentalmosttwoyearstopromotetheconstitutionalreforminthepastthreeyears,"Leungsaid,"soweshouldturnourattentiontoeconomyandlivelihood."

LeungsaidhehasproposedanewideathatthegovernmentshouldbeappropriatelyactiveinpromotingHongKong'seconomy,andithasnowbeenrecognizedbytheHongKongsociety.

ButthishasbeenaratherdifferentideasinceHongKonghasbeenlongconsideredatypicallaissez-faireeconomywith"positivenon-intervention"policycarriedonbypreviousgovernorsinBritishcolonialrule.

"OneofthereasonswhyIproposethisnewideais,thegovernmentsofHongKong'srivaleconomieshavebeenquiteactiveindealingwitheconomicandlivelihoodissues,"headded.

IfHongKong,asaneconomy,istocompetewithrivalslikeSingaporeandSouthKorea,thegovernmenthastoreconsiderwhatkindofrolesthattheSARgovernmentshouldandcouldplay,thechiefexecutivesaid.

Afterhetookofficein2012,LeunghasurgedHongKongtoplayaroleas"super-connector"betweenChinesemainlandandtherestoftheworld,astheregionhasitsuniqueadvantagescreatedbythe"OneCountry,TwoSystems"principle.

The"super-connector"shouldactinbothways,accordingtoLeung.Ononehand,HongKongshouldcontinuehelpingmainlandcompanieswiththeiroverseasbusinesses.Ontheotherhand,theSARgovernmentshouldpaymoreattentiontoattractmoreforeigninvestment,talentsandtechnologiestoHongKongandthemainland.

Manyeconomies,accordingtoLeung,haveshowngreatinterestsinhavingeconomiccooperationwiththeChinesemainlandthroughHongKong.

LeungstressedthatHongKong'ssuchfunctioncouldnotbenoticedinitstransshipmenttradevolumeschart."ManycommoditiessoldbytheU.S.,CanadaorIndiawereshippeddirectlytothemainland,buttheircontractsweresignedwithHongKongcompanies."

LeungalsorevealedthattheSARgovernmentisconsideringanappropriateway,includingsettingupanofficialorgan,toparticipateinChina's"BeltandRoad"initiative.

HebelievedthatHongKong'senterpriseshomeandabroadcouldprovidetheirbusinessexperiencesandcontributetothecountry'sambitiousprogramandHongKong'srolewithinit.

"PeoplefromSingaporeoftentoldmethattheyenvyHongKonghasmanysuccessfulbusinessmen,suchasMr.LiKa-shing.ItoldthemthatHongKongalsohasmanymedium-and-smallcompanieswhichhaveachievedsuccessinoverseas.Weshouldsupportthem,promotetheiroverseasbusinesses,"hesaid.

LeungsaidHongKongshouldreinforceitspositionofaplaceforenterprises'headquartersinpromotingthe"OneBelt,OneRoad"initiative.

"Eveninagriculture,HongKong'senterpriseshaveobtainedmarketsharesandexperienceinthemainlandandoverseas.SoweshouldencouragemorecompaniestochooseHongKongastheplacefortheirheadquarters,whichwillbenefitHongKong'seconomy,"hesaid.

Toparticipateinthe"BeltandRoad"initiative,HongKong'senterpriseshavemanychoicesotherthantheregion'sdominanttrade,logistics,finance,tourismandprofessionalservices,saidLeung.

Stockfarmingandevenchemicalindustrywillalsobeappropriatechoices,headded.

ThechiefexecutivealsonotedthatHongKong's"super-connector"functionarenotlimitedintheeconomicfield,butalsoworksinscientificaspect.

SwedishKarolinskaInstitute,oneofthelargestandmostprestigiousmedicaluniversitiesintheworld,hasdecidedtosetuparesearchcenterinHongKong,thefirstofitskindoutsideSweden.TheUniversityofChicagoandCornellUniversityhavealsoestablishedcooperativeresearchfacilitiesinHongKong.

"WhydidHongKongattracttheseworld-classscientificinstitutions?"Leungsaid,"BecausetheywantverymuchtocooperatewiththeChinesemainlandwithaplatforminHongKongwheretheyaremorefamiliarwiththelegalsystemsandlifestyle."

AccordingtoLeung,theSARgovernmentwillopenmoreoverseaseconomicandtradeofficestomeetagrowingdemandtopromoteHongKong.Sofar,theSARgovernmenthassetup11economicandtradeofficesoverseas.

However,LeungnotedthattherearestillsomeobstaclesinsideHongKongdespitegovernmenteffortstoboosteconomicdevelopmentandimprovepeople'slivelihood.

LeungcriticizedthefilibusteringofsomeoppositionlawmakerswithintheSAR'slegislatureonmanyeconomicandlivelihoodissues,whichhasalreadysloweddownHongKong'spacesofeconomicdevelopment.

SpeakingofHongKongpeople'slivelihood,thechiefexecutiveagreedthathousingproblemisthebiggestoneamongothers,asmanypublicpollsshowedthatHongKongresidentshaverepeatedlycomplainedaboutunaffordablehousingpriceandthelongqueuingtimetoacquiregovernment'spublichousingapartments.

AccordingtoLeung,whohasprioritizedthehousingproblemsincehetookoffice,theamountofprivateestatestobecompletedin2016willbe70percentmorethantheaverageamountofthepasttenyears,arecordhighinrecenttenyears,whichcould,tosomeextent,alleviatetheincreasingdemand.

Leungstressedthataddressinghousingproblemisalong-termworkinHongKongandshouldnotbegivenuphalfway.Therefore,LeungsaidHongKongmusthavecontinuouslandsupply.

"Inlong-termplan,oneofthesolutionsisseafilling.WenowhavesomeboldvisionsbeyondtheVictoriaHarbor,"LeungtoldXinhua.

ThechiefexecutivenotedthatincreasinglandsupplyisfornotonlysolvingHongKongresidents'housingproblembutalsotheregion'seconomicdevelopmentneeds,includingthefinancialindustry.

"Statisticshaveshownthattherearealsostrongdemandforland,especiallybusinessbuildings,inHongKong.SothegovernmenthasanambitiousplantodevelopKowloonEast,whichwillbeanothermajorbusinesscenterinthefuture,"saidtheexecutive.