Blog

Let's join hands to achieve good governance

The Legislative Council (LegCo) election will be held next Sunday (19 December), which is the second important election to be organised under the improved electoral system. Under the "patriots administering Hong Kong" principle and the executive-led system, the newly elected LegCo Members will play a role in monitoring the Government and promoting good governance. Hong Kong has entered into a new phase of governance and prosperity. The improvement to the electoral system has ensured the comprehensive and correct implementation of the "One Country, Two Systems" principle and revitalised the executive-led system, facilitating us to work in full steam to address deep-seated social and economic problems.

To expedite Hong Kong's development and continue to improve people's livelihoods, we need a stable environment and an effective governance system. We have to utilise our institutional strengths under the "One Country, Two Systems" arrangement and the executive-led system, with a view to enhancing the governance and problem-solving capability of the Government and sharing the fruits of social and economic development with the people.

Under the leadership of the Communist Party of China, the new China has successfully overcome different challenges and achieved continuous economic and social development. In recent years, our country has reached the goal of building a modestly well-off society and eliminating absolute poverty. People have seen a substantial improvement to livelihoods and are looking forward to a better future. The Chinese nation is progressing on the journey of great rejuvenation.

As for Hong Kong, we are also working towards the same direction. The Hong Kong SAR Government has been working to improve people's quality of life and making long-term planning for the future of the city.

Under the "One Country, Two Systems" arrangement, we can continue to capitalise on the strengths and flexibility of capitalism and market economy to allocate resources and production factors effectively, enabling better economic development, or so called "making the cake bigger". At the same time, we should "allocate the cake well", as the fundamental objective of development is to promote the interests of the people. Only by allowing everyone to share the benefits of development without neglecting the needs of the minority could a society sustain harmonious and stable development.

For years, the pan-liberalised political system adopted by some western democracies has led to the excessive growth of political power in the capitalist system and a deeply imbalanced wealth distribution, which would undermine the interests of the people and the stability of the society in long run. Some statistics showed that in the US the wealth owned by the richest 1% exceeds that owned by all middle-class families combined. If economic development could only benefit and concentrate wealth in a small number of people and enterprises, and if the amount of wealth determines the political say, it would be difficult to achieve balanced and stable social development and safeguard people's wellbeing.

Under the development model of the Mainland, the interests of the people are put at the centre of development. From the elimination of absolute poverty, building of a modestly well-off society, to the great rejuvenation of the Chinese nation, development is all about substantially benefitting the people. In fact, the living standard of people in the Mainland is continuously improving and they are having greater life satisfaction.

Different countries pursue their own development paths, leading to different development models which suit their own needs. Only through mutual respect could we ensure a stable development environment for all. The institution of new China has shown strong adaptability in the course of development, while some countries' development is stuck in bottlenecks or even faced with social polarisation. Without proper solutions to their own problems, some of these countries are passing the blame to the Mainland to distract people from their own failure.

Against this background, we could understand why the US and other western countries have been trying to hinder the development of the Mainland and Mainland enterprises. The US and other western countries have unfairly treated some technology companies with a civil background, or even restricted their institutions and nationals from investing in those companies.

We should learn from history and grasp the current international geopolitical situation. By fully capitaalising on our institutional strengths under the "One Country, Two Systems" arrangement, we could promote better development for Hong Kong, improve people's livelihoods and build a stable and prosperous future.

This LegCo election has shown wide representativeness, political inclusiveness and balanced participation. With the enhancement in its composition, the new LegCo will consist of Members from different strata and sectors who could represent the overall interests of the society. Over the years, many social problems have accumulated along with Hong Kong's development under the capitalist system. The improvement to the electoral system could enable continuous development in Hong Kong while striking a better balance between the interests of different sectors and districts, reflecting the people's will in a more comprehensive manner and in accordance with Hong Kong's actual situation and overall interests.

We have to be confident in the "One Country, Two Systems" arrangement and determined in walking on our own path. The international environment is evolving and there is a rising trend of de-globalisation, unilateralism and protectionism around the world. Moreover, with many major economies facing the risk of high inflation which might affect their economic recovery, coupled with the continued disruption brought by the pandemic, our world is facing increasing instability and uncertainty. As a small and open economy, Hong Kong is also faced with many challenges and risks. The Central Economic Working Conference concluded last week announced that stability would be the top priority of the economic work next year and progress has to be made under stability. This also reflects the challenges to be faced by the global economy next year.

Given the more complicated international situation, we have to clearly recognise the actual situation, stay focused and be versatile. We also need to grasp the development opportunities, while staying alert and managing the risks well. With the support of our country, our institutional strengths and the governance capability brought by the improved electoral system, Hong Kong can further prosper in the new development phase. We look forward to working with the new LegCo Members to foster better development. For the bright future of Hong Kong, let's vote on 19 December!

12 December 2021