Second, we should have confidence in Hong Kong. Hong Kong is blessed with many favorable conditions and unique strengths for development. It has a highly free and open economy featuring free flow of factors of production such as personnel, goods and capital, and this is a major factor in both attracting international capital and retaining local capital. With its internationally recognized legal, accounting and regulatory systems, a full-fledged service sector, clean and efficient government and business-friendly environment, Hong Kong has the full confidence of outside investors. Hong Kong is an important international financial, shipping and trade center, a major conduit connecting the mainland and international markets and a two-way service platform for China both to attract foreign investment and enter the international market. Hong Kong is by far the mainland's biggest source of external direct investment and non-local financing platform, and it has grown into the mainland's largest non-local investment destination and the biggest offshore RMB business center in the world. More importantly, the practice of "One Country, Two Systems" has given Hong Kong an institutional advantage, enabling it both to share in the mainland's vast market and development opportunities and serve as a testing ground for the country's new opening-up initiatives, and this gives Hong Kong an edge in pursuing development. Pilot programs of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect have both been launched in Hong Kong, so will be the "Bond Connect". By building on and leveraging these strengths, Hong Kong will surely be able to keep and attract investment and talents, seize opportunities presented by economic globalization and regional cooperation to promote innovative local business start-ups, and develop new growth drivers. The legendary city of Hong Kong by the Lion Rock will surely open a new chapter of development and prosperity.
Third, we should have confidence in our country. The motherland has given and will always give a strong backing to Hong Kong. Thanks to close to 40 years of reform and opening-up, China has made big strides forward: from first managing to stand on its feet to becoming prosperous and strong. China is now the world's second largest economy and its leading manufacturer and trader in goods. China has the world's largest foreign exchange reserves, and it has contributed more to global economic growth than any other country. Its scientific and technological strength is rising, with advanced achievements made that include the high-performance computer, manned spaceflight, lunar exploration program, quantum communications, Beidou Navigation Satellite System and manned deep-sea submersible. China's high-speed railway has entered the world market. The independently-developed C919 airliner made a successful maiden flight. Our circle of friends is growing: The China-initiated Asian Infrastructure Investment Bank now has 80 approved members, and over 100 countries, regions and international organizations have actively participated in the Belt and Road Initiative launched by China. The Belt and Road Forum for International Cooperation was successfully held in Beijing six weeks ago, and China's call to boost global development has added strong impetus to the endeavor of building a community of shared future for mankind. An increasingly prosperous motherland serves as a source of strength for Hong Kong to overcome difficulties and challenges; it also presents a reservoir of opportunities for Hong Kong to break new ground, foster new driving force and create new space for development. When our country does well, Hong Kong will do even better.
Fellow Compatriots,
Dear Friends,
A popular song in Hong Kong has this line: "Self-confidence is so important. Open up your mind and your dream will come true." We should have full confidence in ourselves, in Hong Kong and in our country, fully and faithfully implement the policies of "One Country, Two Systems", "Hong Kong people administering Hong Kong" and a high degree of autonomy, abide by the Basic Law of the HKSAR, and make focused and concerted efforts to pursue development. By doing so, we can certainly deliver an even brighter future for Hong Kong.
To conclude, I wish to propose a toast:
To a prosperous and strong China and the great renewal of the Chinese nation;
To the long-term prosperity and stability of Hong Kong; and
To the health of all the friends present and your families.
Cheers!
