My Blog

The Legislative Council (“LegCo”) General Election will be held about three weeks later. A total of 153 candidates will compete for 90 seats, giving rise to intense competition in both geographical and functional constituencies. In some constituencies, there are as many as five candidates competing for one seat. In other constituencies with fewer candidates, the competition is no less intense. The candidates are making their best efforts to win the election. Indeed, the election is far more competitive than expected. I believe the coming new term of LegCo will comprise not only veterans, but also many new faces.

Accurate positioning, policy guidance and market forces are essential for successful market development. While market development is a process, identifying clear goals, striving to achieve them and learning from experiences continuously will let us have a better understanding of the market characteristics and demands. Taking the stock market as an example, for over two decades since Hong Kong’s return to the motherland, riding on the reform and opening up of the Mainland with enormous financing needs, the market capitalisation of Hong Kong’s stock market has soared rapidly from some HK$2 trillion to over HK$45 trillion at present. There have been ups and downs during the booming process, but our regulatory regime and its effectiveness continued to strengthen as the market continued to grow steadily in both quality and quantity terms. Coupled with the proper management of market risks, Hong Kong’s stock market has achieved breakthroughs continuously.

As a nation with an extensive territory and massive population and faced with on and on foreign intervention, how our Country has succeeded in overcoming all the difficulties and become the second largest global economy, as well as a leader in the international arena? And how our Country is able to safely protect the public health under the COVID-19 pandemic and achieve economic recovery ahead of many other places around the world?