As Hong Kong marks the 28th anniversary of its return to China, experts highlight how the 'One Country, Two Systems' framework continues to strengthen the region's global competitiveness. Lau Siu-kai, professor emeritus of sociology at the Chinese University of Hong Kong, emphasizes that the policy has enabled Hong Kong to maintain its distinct advantages while deepening integration with the Chinese mainland.
'Hong Kong's role as a super-connector between China and the world has been amplified through this unique arrangement,' Lau noted. He pointed to the city's robust legal system, free flow of capital, and bilingual workforce as key factors driving its economic resilience amid global uncertainties.
The commentary comes as Hong Kong strengthens its position in emerging sectors like fintech and green finance. Recent data shows the Special Administrative Region remains Asia's top destination for international corporate headquarters, with over 9,000 overseas and mainland companies establishing operations in 2023.
Lau emphasized that Hong Kong's success story reflects the central government's commitment to preserving its capitalist system and way of life under the Basic Law. 'The constitutional order ensures both national security and Hong Kong's prosperity,' he stated, referencing recent measures to streamline cross-border financial cooperation and talent exchange programs.
As China advances its dual circulation development strategy, analysts predict Hong Kong will play an increasingly vital role in channeling global investment into mainland innovation hubs while helping Chinese enterprises expand overseas. The city's unique cultural identity, Lau argues, continues to serve as both a bridge and buffer in China's international engagements.
