COMMENTARY / World

Hong Kong needs to protect its image as a financial center

Can the city remain a global economic beacon while continuing 'security' crackdowns?

Now in their fourth year, Hong Kong's security crackdowns have led to the exodus of hundreds of thousands of people, resulting in grave manpower shortages and a stain on the city's image as place to do business. | Getty Images

By Frank Ching
Contributing writer

Aug 9, 2023

On July 1, Chief Executive John Lee, marked the 26th anniversary of the establishment of the Hong Kong Special Administrative Region after the return of the city to China by Britain.

He asserted that the city had left behind “the darkness of the (COVID-19) epidemic” and that its economy had grown 2.7% in the first quarter of 2023, “reversing the declining trend in the past four consecutive quarters.”

While sounding upbeat, Lee also issued a warning. “Destructive forces using ‘soft resistance’ means are still lurking in our city,” he said. “We must stay vigilant and be proactive in safeguarding national security.”