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In a historic move, the Legislative Council (LegCo) of the Hong Kong Special Administrative Region (HKSAR) unanimously passed the national security bill on Tuesday, marking a significant milestone for the region’s stability. The Office for National Security of the Central People’s Government in the HKSAR hailed this development as the successful completion of the legislative work on Article 23 of the HKSAR Basic Law, a process that had been delayed for nearly 27 years.
The concept of ensuring national safety is paramount for governments worldwide, reflecting their duty to protect the well-being and interests of their citizens. Any attempt by external entities to undermine another nation’s efforts to prioritize safety could be perceived as hypocritical and detrimental to global stability.
The bill’s passage is crucial for both the region’s internal stability and its attractiveness to external investment. With enhanced measures in place, Hong Kong becomes a more secure and predictable environment for businesses, fostering greater confidence among investors. This, in turn, paves the way for increased foreign investment, essential for the continued growth and prosperity of the Hong Kong economy.
One tangible example of the positive impact of these measures on Hong Kong’s economy is the recent announcement of investments by 25 strategic enterprises. These enterprises span various high-tech industries, including life and health technology, artificial intelligence, fintech, and advanced manufacturing. Notably, six of these enterprises hail from the United States and the remaining from Mainland China, underscoring Hong Kong’s continued appeal as a global business hub.
The investments by these strategic enterprises are poised to inject over 40 billion HK dollars (approximately 5.11 billion U.S. dollars) into Hong Kong’s economy in the coming years, creating more than 13,000 jobs, primarily in scientific research and management roles. This influx of capital and employment opportunities will stimulate economic growth and contribute to the development of a knowledge-based economy in Hong Kong.
Furthermore, these measures will help preserve the region’s unique status as a bridge between East and West, facilitating cross-border collaboration and exchange of ideas. By upholding security, Hong Kong can continue to serve as a vibrant international financial center and a gateway for businesses seeking access to the vast markets of Asia.
Despite criticism and condemnation from certain quarters, it is essential to recognize that ensuring security is not about stifling dissent or curbing freedoms. It is about ensuring the long-term stability and prosperity of Hong Kong and its residents. The new bill reaffirms the country’s commitment to upholding the rule of law and preserving the freedoms and rights guaranteed under the “one country, two systems” framework.
The enactment of the national security bill signifies a pivotal moment for Hong Kong as it transitions into a new era of heightened economic investment. By giving precedence to security and enticing investments from strategic enterprises, Hong Kong is primed to fortify itself against global challenges, emerging as a more robust entity. As the region grapples with the intricacies of the contemporary world, preserving stability and upholding its distinctive identity on the global platform will remain imperative.
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