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Hong Kong marches ahead with prosperity, stability

By SHADOW LI in Hong Kong | China Daily Global | Updated: 2022-06-27 09:11
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Eric Kuo Wai-keun, HK startup entrepreneur.

All-around support

Another key ingredient of Kuo's recipe for success is the all-around support that he has been given by Shenzhen government and the central government. In addition to an apartment and an office rental rebate, Kuo has received seed funding of 2 million to 3 million yuan over the past five years.

What's more, Hong Kong's young people have the same rights as locals regarding such things as social security, Kuo said. Young entrepreneurs from Hong Kong and Macao can also get loans for startups without a credit check, as the Shenzhen Human Resources and Social Security Bureau vouches for those who use their local ID.

"The message I got from my endeavors on the mainland for years is that the nation has all along counted Hong Kong in this 'soccer' game," Kuo said, adding that Hong Kong's young people can give play to their strengths by aligning their careers with the Greater Bay Area or the nation's 14th Five-Year Plan (2021-25).

Comparing the situation to playing in a soccer match, Kuo said: "Everyone has their roles to play on the team. But you have to actively move around and cooperate with your teammates. Waiting around for the ball to be passed to you is not going to give you the chance to score a goal."

Meanwhile, with the implementation of the National Security Law and the successful selection of a new chief executive, Hong Kong is poised to move forward and usher in a new chapter.

Kuo said a stable business environment is crucial for an entrepreneur, which is why the economy and livelihoods in Hong Kong have improved since the National Security Law was introduced.

Since the law took effect on June 30, 2020, the total number of arson, criminal damage and serious assault cases has fallen from 6,118 in the first half of 2020 to 5,350 in the second half of that year and 4,886 in the second half of 2021, according to Hong Kong police.

At the same time, funds raised on the city's stock market rose from HK$137.2 billion ($17.5 billion) in the second quarter of 2020 to HK$246.8 billion the following quarter.

In addition, inbound direct investment flowed into the city following the implementation of the National Security Law. In 2020, such investment reached HK$134.7 billion, up from HK$73.7 billion in 2019, when unrest hit Hong Kong.

Meanwhile, Kuo is now in the fifth year of a quest to fulfill his business dream in the Greater Bay Area.

Sze, who is now school principal, continues his mission to bring the right knowledge and the nation's values to Hong Kong's younger generation.

The city, as it celebrates the 25th anniversary of its return to the motherland, is charting its course for the future and ensuring that the practice of the "one country, two systems" principle remains on the right track.

CHINA DAILY

 

 

 

 

 

 

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