Keep cool and collected, rebuild mutual trust, bravely face up to adversity
29 December 2019
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The year 2019 is coming to an end. Looking back, it is indeed an eventful and turbulent year. Amid the gloom and uncertainties in the external environment, coupled with the social turmoil and violent vandalism stemming from the amendment of the Fugitive Offenders Ordinance, Hong Kong has been facing the gravest and most complex situation since Hong Kong's return to Chinese sovereignty 22 years ago. Our economy, society as well as people's livelihood have been severely hit.
The Hong Kong economy recorded an above-trend growth of 3% last year (2018). However, owing to the interplay of external and internal adversities this year (2019), the economy entered a recession in the third quarter and was forecast to contract by 1.3% for the whole year, marking the first annual decline in a decade. It is expected that the economy will still face tough ordeals and challenges in 2020.
Visitor arrivals in November 2019 totalled about 2.6 million, i.e. around 88 000 per day, plunging by 56% year-on-year. It was the worst figure for the month since 2003. The visitor volume saw no rapid improvement even during the traditional busy travel period of Christmas. The situation is indeed worrying.
Major service industries registered decreases in business receipts. Double-digit year-on-year declines were recorded for the accommodation services industry (- 19.1%), the retail industry (-17.5%), the wholesale industry (-12.2%) and the food services industry (-11.7%) in the third quarter of 2019.
On employment, the labour market has eased further. The seasonally adjusted unemployment rate stood at 3.2% in September to November 2019. However, the unemployment rate of the consumption- and tourism-related segments (viz. retail, accommodation and food services sectors as a whole) rose further to a three-year high of 5.2%. The unemployment rate in the food and beverage services sector even increased to 6.2%, the highest level in eight years. As the service industries employ a large number of grassroots citizens, the labour market will be under even more pressure in the near term if the overall economy continues to weaken. The Government will monitor developments closely.
If only we can end the riots and restore social order as soon as possible, Hong Kong, with its strong foundations and institutional strengths and by taking advantage of various opportunities, should be able to get back on track and fly high again.
The rule of law, human rights, freedoms, judicial independence, inclusiveness, openness and diversity are the core values of the Hong Kong Special Administrative Region (HKSAR). While Hong Kong may not have the full substance of Western democracy, it has in fact been enjoying the full substance of real freedoms all along.
The US Heritage Foundation has ranked Hong Kong the freest economy in the world for the 25th consecutive year. According to the Global Competitiveness Report 2019 published by the World Economic Forum, Hong Kong ranked second in Asia and eighth in the world in judicial independence.
Besides, three Hong Kong universities are ranked among the top 50 in the world and the top 10 in Asia according to the respective QS University Rankings for 2020.
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Hong Kong's institutional strengths, solid economic fundamentals and unique advantages under "One Country, Two Systems" have underpinned its success and should be dearly cherished.
Looking ahead to the new year, the HKSAR Government will make an all-out effort to weather the storm. By steadfastly upholding the rule of law and maintaining social stability, we can mend the rift in society and bring Hong Kong back to the right track. With the immense care and full support of the Central Government, the HKSAR Government will accurately follow and fully implement the principle of "One Country, Two Systems" to propel the continuous advancement of Hong Kong.
Two weeks ago, the Chief Executive paid a duty visit to Beijing and reported to state leaders on the latest economic, social and political situation in Hong Kong. Both President Xi Jinping and Vice Premier Li Keqiang said that the Central Government fully recognised the efforts of the Chief Executive in leading the HKSAR government during the grimmest and most complex year for Hong Kong since its reunification with the motherland, through which the HKSAR government had strived to maintain social stability despite various difficulties and pressures as well as introduced a series of policy measures to support businesses and ease the public's financial burden.
The HKSAR Government is preparing for the establishment of an independent review committee to explore, at the macro level, the causes and consequences of the whole social incident. We will also examine and tackle a series of deep-seated conflicts and problems to devise more appropriate policies. Besides, the Independent Police Complaints Council will endeavour to submit its first phase report to the Chief Executive (CE) within the next few weeks.
To ensure that our policies respond more closely to the aspirations, sentiments and opinions of the community, the Government will enhance public engagement in policy-making and strengthen communication with people from various sectors of the community. In improving governance and listening to public views, we will become more open and inclusive.
Apart from listening to people's views through attending community dialogue sessions, the Chief Executive and the governing team also meet the public in other ways, such as paying community visits and having intensive dialogues on policy issues and current social affairs with people from different sectors. The principal officials will also start having dialogues with netizens on social media.
The year 2019, gloomy as it is, will soon end as we usher in 2020. New Year is a time that signifies hope. It is the common wish of Hong Kong people that law and order can be promptly restored and that Hong Kong can become the city we once knew again. With perseverance, calm tenacity and social solidarity, Hong Kong will ride out the current adversity, become more vibrant and shine again.
