How does the Chinese Communist Party govern the country?

Chapter 23

Before the return of Hong Kong and Macau to the motherland, Western public opinion has always been consistent in speaking badly about the prospects of Hong Kong and Macau. In 1995, the authoritative American magazine "Fortune" asserted in the article "The Death of Hong Kong" that Hong Kong has the unique advantages of a combination of capitalism and low taxation, and after returning to China, this advantage will disappear, so Hong Kong will definitely lose Its status as a vibrant international business and financial center.But not long after, Westerners were surprised to find that the canary in Hong Kong was still singing happily. In 2001, when a reporter mentioned the article "The Death of Hong Kong" to the editor-in-chief of "Fortune", Jeffrey Colvin was quite embarrassed.He admitted that the magazine's prophecy did not happen, Hong Kong is not dead, Hong Kong's status as the financial center of Asia has not changed, Hong Kong is still an important position for foreign capital to enter China, and "one country, two systems" has been well implemented in Hong Kong.The reporter asked again, if "Fortune" still used Hong Kong as the cover article today, what would it be titled?Calvin thought for a long time, and the final answer was "City of Vitality".

In 2007, "Fortune" published an article "Ouch, Hong Kong Can't Die at All", officially admitting its mistake.The article wrote: In 1995, "Fortune" magazine predicted that after Hong Kong's sovereignty was handed over to China, it would decline.But in 2007, the city was more prosperous than ever - well, well, we were wrong... 1997 years since the handover on July 7, 1, Hong Kong is far from dead and hardly dead.At the same time, the American "Time" magazine also spent a full 10 pages discussing the changes in Hong Kong 25 years after its return, and admitted: "The sister magazine "Fortune" of "Time" once dishonorably and wrongly predicted Hong Kong's return to China. It will bring death to it. However, Hong Kong is even more alive than before." The article also pointed out that Hong Kong has experienced financial turmoil, bird flu, and SARS in the past 10 years... When the world thinks that Hong Kong is a blessed place, Hong Kong has been exhausted. Once over, "being part of a thriving China almost guarantees that it will prosper forever".

That's exactly what happened.Since its return 15 years ago, the central government has made every effort to maintain Hong Kong's prosperity and stability. In 1997, a financial crisis broke out in Asia. International speculators attacked the Hong Kong dollar in the Hong Kong financial market. As the world's four major financial centers, Hong Kong was hit hard. The stock market fell, the exchange rate was unstable, the economy was sluggish, and the unemployment rate remained high.In this "Hong Kong dollar defense war", the Hong Kong Special Administrative Region government actively took measures to reduce the fiscal deficit, increase employment, and promote economic development; at the same time, it actively adjusted the economic structure and increased the proportion of innovative technology and high value-added industries in the economic system , and take this as the direction of Hong Kong's future economic development.At the same time, the central government has always been Hong Kong's strong backing, and has continuously introduced powerful measures to help Hong Kong's economic recovery relying on a strong market and a stable currency exchange rate policy. Fund to stabilize Hong Kong's stock market and foreign exchange market, thus effectively helping Hong Kong out of the predicament.Tung Chee-hwa, the chief executive of the Hong Kong Special Administrative Region at the time, believed that the central government's policy on Hong Kong's response to the financial crisis was "really commendable" and a "great help" to Hong Kong.

From 2001 to the end of 2005, the mainland injected another 1620 billion yuan into Hong Kong, which greatly promoted its economic recovery. In June 2003, the Central Government and the Hong Kong Special Administrative Region Government signed the "Mainland and Hong Kong Closer Economic Partnership Arrangement" (CEPA), allowing many Hong Kong products to enter the Mainland with zero tariffs, and relaxing the access of Hong Kong's service industry to the Mainland field.This has played an important role in opening up the mainland market for Hong Kong products and services, strengthening economic cooperation and integration between the mainland and Hong Kong, and has become an important catalyst for Hong Kong's economic recovery.Subsequently, the central government also allowed mainland residents to travel freely to Hong Kong and Macau, which greatly promoted the economic growth of Hong Kong and Macau.Since its opening 6 years ago, more than 9 million mainland residents have traveled to Hong Kong for tourism, shopping and consumption, with a cumulative consumption of more than 8000 billion Hong Kong dollars.

After adjustments, Hong Kong's economy got rid of the economic hesitation and downturn in 2005. The economic growth rate reached 7.5%. In 2006, the actual growth rate was 6.8%. The unemployment rate fell to the lowest in history, and the aviation industry and trade grew rapidly.

In 2008, when the international financial crisis broke out, the central government promptly announced 7 measures in seven areas to support Hong Kong's development, and fully helped Hong Kong cope with the difficulties brought about by the international financial crisis. In 14, the National Development and Reform Commission announced the "Pearl River Delta Regional Reform and Development Plan (2009-2008)", which raised the economic development of the Pearl River Delta to a national strategy.Subsequently, the State Council approved an investment of more than 2020 billion yuan in the construction of the Hong Kong-Zhuhai-Macao Bridge.These measures have greatly promoted the economic development of the Hong Kong-Zhuhai-Macao region. In April 700, the Guangdong Provincial Government and the Hong Kong Special Administrative Region Government also signed the "Guangdong-Hong Kong Cooperation Framework Agreement", which supports and encourages Hong Kong's insurance industry institutions to open in Guangdong, and allows Hong Kong's financial institutions (including banks) to open village banks and township banks in Guangdong. Small loan companies. The "Guangdong-Macao Cooperation Framework Agreement" was also signed in March 2010. In 4, the "Twelfth Five-Year Plan" outlined the content of Hong Kong and Macau for the first time.

The outline points out: support Hong Kong in consolidating and enhancing its status as an international financial, trade, and shipping center, enhance the global influence of the financial center, and promote coordinated economic and social development; support Macao in building a world tourism and leisure center, and promote moderately diversified economic development.This provides strategic guidance for the development of Hong Kong and Macao, which is conducive to their recovery from the impact of the international financial crisis and the long-term development of Hong Kong and Macao.In this regard, the Chief Executive of the Hong Kong Special Administrative Region, Donald Tsang, has repeatedly stated that without the strong support of the central government, it is impossible for Hong Kong to survive the financial crisis and complete industrial transformation.

Today's Hong Kong continues to maintain the characteristics of a free port and an international metropolis, and continues to maintain its status as an international financial, trade, shipping, information and business service center.The Hong Kong stock market is the second largest stock market in Asia and the seventh largest in the world.The air cargo volume of Hong Kong Airport ranks first in the world, and the container throughput of the port also ranks among the top three.All this fully demonstrates that Hong Kong still has vitality and potential after its return to the motherland.The international community also generally recognizes Hong Kong as one of the freest economies and most dynamic regions in the world.By 2012, Hong Kong had been rated as "the world's freest economy" by the Heritage Foundation for 18 consecutive years.The foundation believes that Hong Kong has shown resilience against the turmoil in the global market, coupled with the closer economic interaction between Hong Kong and the mainland, it remains one of the most competitive financial and business centers in the world.This is not only an affirmation of Hong Kong, but also an affirmation of "one country, two systems".

Hong Kong's development after its return to the motherland has greatly exceeded the expectations of some foreigners. "Voice of America" ​​quoted William Overholt, a senior researcher at Harvard University's Kennedy School of Political Science, as saying: In the past, the idea was that Hong Kong's return to China would damage Hong Kong's economy, but now it has been proved that this is completely contrary to the facts. In 2007, Margaret Thatcher also said in an interview with the BBC: Ten years ago, when it was time to return, Britain worried that Hong Kong would not be able to prosper if it was ruled by China.But a decade on, those fears have proven largely unwarranted.She also wanted to tell Deng Xiaoping: "One country, two systems" is very good.

Even Patten, the last governor of Hong Kong, publicly admitted that Hong Kong was very successful in the ten years after the handover.The British Consul General in Hong Kong, Bai Shengwen, made a high evaluation: "Hong Kong's return to the motherland 10 years ago, especially after 2003, the economic prosperity, the stock market boom, and the unemployment rate hit a record low, which clearly shows the great achievements of Hong Kong after the return of the motherland. success."

Macau has also benefited greatly from the return.After the reunification, Macau has always been called "Oriental Monte Carlo". Its casino revenue surpassed that of Las Vegas in the United States at the end of 2006, becoming the real world's number one gambling city.At the same time, relying on the vast market in the Mainland, Macao's education and financial industries have achieved tremendous development.Professor Yang Yunzhong, director of the "One Country, Two Systems" Research Center of the Macau Polytechnic Institute, pointed out that from 2000 to 2008, the population of Macau increased from 43 to 54; the land area increased from 21 square kilometers to 29 square kilometers; the GDP increased from 497 billion patacas to 1700 More than 14.5 million patacas, an average annual growth rate of 1.4%; per capita GDP increased from more than 3.9 US dollars to more than 2.7 US dollars, an increase of [-] times, second only to Japan in Asia, "this speed is hard to find second in the world."A survey by the Center also revealed:

Over the past ten years since Macao's return to the motherland, economic development, social stability, and improvement of people's livelihood, the majority of citizens agree with "love the country and Macao" as the core value, and 98% of the interviewees believe that "one country, two systems" has been successfully implemented in Macao.

History has proven that the Communist Party of China has continuously summed up experience, worked hard to explore and formed a set of principles and policies that are in line with the realities of Hong Kong and Macau. In 2007, the General Outline of the Amendment to the Party Constitution of the Communist Party of China added content to promote the long-term prosperity and stability of Hong Kong and Macau.The report of the Seventeenth National Congress of the Communist Party of China also pointed out that maintaining the long-term prosperity and stability of Hong Kong and Macau is a major issue facing the party in governing the country under the new situation.All these show that unswervingly implementing the policy of "one country, two systems" and a high degree of autonomy is a long-term policy of the Communist Party of China and the central government, and it is also the common wish and fundamental interest of Hong Kong and Macao compatriots. The successful practice of "one country, two systems" fully demonstrates that the Chinese Communist Party is not only capable of leading the continuous development of the socialist cause in the Mainland, but also capable of maintaining the long-term prosperity and stability of Hong Kong and Macau under the framework of "one country, two systems".

(End of this chapter)