'One country, two systems' enriched by President Xi

When meeting with incoming Hong Kong SAR Chief Executive Lam Cheng Yuet-ngor in April this year, Xi stressed that the practice of the "one country, two systems" principle in Hong Kong is an unprecedented cause and needs to be advanced through fresh explorations.

Photo taken on June 27, 2017 shows the Golden Bauhinia statue in Hong Kong, south China. July 1, 2017 marks the 20th anniversary of Hong Kong's return to the motherland. [Photo/Xinhua]

The central government is determined to stick to the principles of "one country, two systems," "Hong Kong people governing Hong Kong" and a high degree of autonomy, he said.

That determination would not change or waver, said Xi, adding that full support would be given to Lam and the HKSAR government to carry out their duties in accordance with the law.

The Chinese president has backed up his words with action.

In 2015, the Chinese mainland and Hong Kong reached a Closer Economic Partnership Arrangement (CEPA) on service trade, to allow professionals from the SAR to enjoy greater access to the mainland's growing service market.

The Shanghai-Hong Kong and Shenzhen-Hong Kong stock connects allow international investors to trade stocks listed in Shanghai and Shenzhen via the Hong Kong exchange while mainland investors can trade Hong Kong stocks via Shanghai and Shenzhen exchanges. Along with the Bond Connect, approved in May this year, these arrangements have strengthened Hong Kong's role as an international financial center.

Plans for the Guangdong-Hong Kong-Macao Greater Bay Area will bring the SARs closer to the Pearl River Delta's manufacturing and innovation heartland. The Belt and Road Initiative will also boost Hong Kong's financial clout.

Land of optimism

Both the Belt and Road Initiative and the Greater Bay Area development plan are perceived as new impetus for Hong Kong's development.

According to the central government's annual work report in 2017, China is planning to develop a city cluster in the Greater Bay Area, playing to the distinctive strengths of Hong Kong and Macao, and elevating their positions and roles in the mainland's development and opening up.

The Greater Bay Area will include the two SARs and nine cities in Guangdong Province, namely Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai.

Stressing the importance of the Belt and Road Initiative to Hong Kong, Leung said Hong Kong's enterprises could "take the same boat" with the mainland partners in sailing into the countries and regions involved in the initiative.

Hong Kong "can be very proud of itself" for its achievements during the past 20 years, said Eric Berti, consul general of France in the Hong Kong and Macao SARs.

France has about 800 companies in Hong Kong. There is a growing French community, which has doubled to over 20,000 people since 2008.

"It shows the attraction of Hong Kong," Berti said. "For foreign companies, especially French companies, it is very important to be able to settle here for the wide Chinese market."

U.S. consul general to the Hong Kong and Macao SARs Kurt Tong, meanwhile, noted that the "one country, two systems" framework "allows Hong Kong to be special and different while still being part of China," adding that the people of Hong Kong are "prosperous" due to Hong Kong's "specialness."

"The unique form of governance in the HKSAR has been largely successful," Tong said.

"The EU is a firm supporter of the implementation of the 'one country, two systems' principle," Carmen Cano de Lasala, head of EU Office to Hong Kong and Macao, told Xinhua.

"We think it has been key to the development of Hong Kong, and we are confident that it would continue to remain a key element in the future development of Hong Kong," Cano de Lasala said, adding that the "one country, two systems" principle "has been beneficial not only for Hong Kong, but also for the Chinese mainland, the region, and the rest of the world."