Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Hepatitis C Epidemic Erodes a Village’s Reputation for Longevity
Trump Says Apple’s Cook Concerned About Losing Edge to Samsung With Tariffs
After Huawei Announcement, Chinese Firms Get Keen on Smart Screens
LATEST
Data-Hungry Apps Show Scale of China’s Privacy Problem, Report Says
Japan’s Largest Mobile Carrier Says It Will Restart Huawei Sales
ZTE Joins Carmaker Chery in 5G Application Partnership
News Editor Fined for Rumors That Rattled Stock Markets in January
Chinese Web Giants Scramble for Stakes in Content Platforms
Baidu Revenue Beats Estimates on Strong Video Business
Weibo Shares Surge 14% as 2Q Results Beat Estimates
U.S. Extends Huawei Reprieve for 90 Days but Blacklists More Subsidiaries
Nio Denies China Listing Plan Amid U.S. Stock Plunge
ByteDance Invests in Chinese Wikipedia-Like Site in Search Push
Tencent to Open Honor of Kings to Third-Party Developers, AI Research
After Huawei Announcement, Chinese Firms Get Keen on Smart Screens
As China Rolls Out Commercial 5G, Experts Are Split on Take-Up Speed
Interest Rate Reform May Benefit Bigger Companies More, Economists Say
Sanctions-Hit Huawei to Open New R&D Centers in Russia: Reports
Xiaomi, Oppo, Vivo to Launch Cross-Platform ‘AirDrop’
Trump Says Apple’s Cook Concerned About Losing Edge to Samsung With Tariffs
Hepatitis C Epidemic Erodes a Village’s Reputation for Longevity
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Hong Kong Leader Vows to Maintain Openness

By Wei Yiyang and Denise Jia / Jun 11, 2019 03:07 AM / Economy

Carrie Lam Cheng Yuet-ngor. Photo: Caixin

Carrie Lam Cheng Yuet-ngor. Photo: Caixin

Hong Kong’s leader Carrie Lam Cheng Yuet-ngor pledged Monday to maintain the special administrative region’s openness while taking advantage of the policy of “one country, two systems.”

“Openness is Hong Kong’s gold name card,” Lam said Monday at a Caixin Summit in Hong Kong, “Without an open and diverse economy and society, Hong Kong wouldn’t have the achievements of today.”

As an externally oriented economy, Hong Kong has been hard hit recently by increasing downside risks spurred by trade protectionism.

Hong Kong’s economy grew at its slowest annual pace in nearly 10 years in the first quarter, reflecting a slowdown in exports and investment, statistics from the government showed.

Total exports of goods and investments both declined in the first quarter, and internal demand also weakened, Lam said.

Lam pointed out that the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road initiative are the best opportunities for the city and will provide a great platform for Hong Kong.

The Hong Kong government has invested HK$100 billion ($12.75 billion) and launched a series of measures in the last two years to expand the city’s international connections, including four free trade agreements and investment agreements with the ASEAN countries and Australia, Lam said.


Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.