The Forgotten Fact for Hong Kong

Hong Kong Street Scene

Photo couresty of  vincentvanderveken.com

It concerns you and me! It’s a matter concerning everyone in Hong Kong as it appears to be the first time the Chinese Premier Wen Jiabao makes a public statement following the news that Shanghai would be stepping up its effort to become  an international financial center a week ago. 

Premier Wen reminded the SAR government of being vigilance of strengthening Hong Kong’s status as an international financial center. Premier Wen told not to dismiss the fact that Hong Kong ’s current situation was ”either moving forward with a growing momentum or slip”  (不 進 則 退).

The Premier pointed out the status of an international financial center was not established by a government decision but through market competition.

Addressing to a group of journalists in Thailand while attending the Association of Southeast Asian Nations (ASEAN) related summits last Saturday, Premier Wen said Hong Kong’s status as the international financial hub would face challenges. 

He reiterated that what is imperative, for the time being, is to maintain a stable, healthy and substainable growth in developing a financial sector through proper regulations, thus giving assurance to its economy.

“While developing the financial sector, Hong Kong should also pump up its effort to tap the potential of other industries such as logistics, tourism, the health sector, science and technology, education, and high-tech industries, in order  to lay a foundation for the sustained economic development, he continued.

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