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Editorial | China’s ‘two sessions’ passes smoothly despite global turmoil
As long as China focuses on economic development, Hong Kong can leverage its unique strengths to seize opportunities
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The “two sessions” of China’s top legislative and political advisory bodies have concluded with the passage of major resolutions. A number of things set it apart. One is the endorsement by lawmakers of the nation’s 15th five-year plan – a road map with which Hong Kong is aligning its development. The other is that despite the distractions of war in the Middle East between rival power the United States and economic partner Iran, and the roller-coaster impact on the price of oil, China’s week-long, top political event passed smoothly.
Perhaps most telling was Beijing’s approach to dealing with potential stresses on the bilateral relationship with the US. Despite the involvement of China’s interests in the war and the oil crisis, calm prevailed, with preparations continuing for President Donald Trump’s visit to Beijing, expected late this month. This resonates with the commitment to high-quality domestic development – good not only for China but the world.
It benefits Hong Kong in particular. As long as China focuses on economic development, Hong Kong can leverage its unique strengths as a bridge to China’s economy to seize opportunities. Indeed, Hong Kong officials have spoken recently about the possible flow of capital into Hong Kong seeking a haven from the Middle East crisis.
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Upon the closing of the two sessions, Chief Executive John Lee Ka-chiu pledged to turn the new roles designed for Hong Kong in the new development blueprint into concrete results for the city’s high-quality development and improvement of people’s livelihoods.
The National People’s Congress also endorsed Premier Li Qiang’s government work report, which set this year’s gross domestic product growth target at 4.5-5 per cent – the lowest in more than three decades, reflecting both a complex external environment and greater emphasis on high-quality, sustainable development. This is in line with the growth rate needed to achieve Beijing’s goal of a moderately developed country by 2035.
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Among the draft laws passed on Thursday was the Law on Promoting Ethnic Unity and Progress, which coincides with a call in the 15th five-year plan for an acceleration of high-quality development in ethnic regions and for consolidating the sense of community for the Chinese nation.
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