Hong Kong thrives under NSL, future is bright: CE
Hong Kong thrives under NSL, future is bright: CE
John Lee says the implementation of the National Security Law came at a critical time for Hong Kong. Photo: RTHK
Chief Executive John Lee on Monday said the implementation of the National Security Law (NSL) has brought about social stability and protected people's lives.
He added that the SAR remains the world's freest economy, and its future is bright.
In comments published in multiple newspapers marking the fifth anniversary of the enactment of the security law, Lee noted that Hong Kong is third in global financial centre and competitiveness rankings, and it's projected to become the world's largest wealth management centre within a few years.
He said the enactment of the NSL came at a critical time for Hong Kong, when anti-China and external forces continuously challenged the bottom line of One Country, Two Systems.
The CE thanked the central government for acting decisively at a critical moment to address the shortcomings and loopholes in the city's legal system.
He also pointed out that the SAR last year fulfilled the constitutional duty of enacting the Safeguarding National Security Ordinance (SNSO) in line with Article 23 of the Basic Law.
Separately, a government spokesperson noted that the implementation of the NSL was a watershed moment in Hong Kong's transition from chaos to order and represents an important milestone in the undertaking of One Country, Two Systems.
Looking ahead, the spokesperson said that the SAR government will strive steadfastly to safeguard national sovereignty, security and development interests against the backdrop of escalating geopolitical risks.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
33 minutes ago
- South China Morning Post
Why China sees US trade deals with partners as a threat – and how it could react
Beijing has renewed its warning to other countries not to strike deals with the United States on terms that come at China's expense – ahead of Washington's looming deadline to conclude tariff negotiations with most of its trade partners. Chinese officials are concerned that nations from Europe to Southeast Asia may enter into trade agreements with the US that divert supply chains, reduce bilateral trade with China or compel governments to exit Beijing-led projects, analysts said on Monday. 'The first important one is not to shift the supply chain,' said Liang Yan, professor of economics at Willamette University. 'There's a possibility that other countries would disengage from China.' Issued over the weekend , Beijing's latest warning echoed a similar statement in April. It came after US President Donald Trump hinted at lower tariffs or extended waivers for countries that negotiate in 'good faith' – raising concerns in China, especially as many third countries maintain close ties with Washington, analysts said. On April 2, the Trump administration imposed sweeping global tariffs – dubbing it 'Liberation Day' – only to suspend most of the duties for 90 days to allow for talks.
South China Morning Post
40 minutes ago
- South China Morning Post
New rules to set boundaries for China's top decision-making bodies
China's Communist Party is preparing to set in regulatory stone the boundaries of various commissions and groups under its top decision-making Central Committee, with new rules clarifying their often nebulous responsibilities. The rules were reviewed by the party's top echelon, the 24-member Politburo, on Monday in a meeting chaired by President Xi Jinping, state news agency Xinhua reported. The report did not spell out the regulations but did say they were meant to standardise the policy coordination and review process at the top. The rules were also designed to ensure these bodies coordinated with other bureaucratic departments without overstepping their authority. '[The rules] are of great significance for giving full play to the top-level design, overall coordination, overall promotion and supervision of the implementation of major work,' the report said. 03:14 China's Communist Party wraps up policy meeting amid growing uncertainties China's Communist Party wraps up policy meeting amid growing uncertainties The regulations largely apply to the various 'central commissions' and 'party leading groups' that have been established during Xi's tenure under the Central Committee, a party inner circle with about 300 members.
South China Morning Post
an hour ago
- South China Morning Post
Hong Kong's New World secures US$11.3 billion refinancing deal just before deadline
Hong Kong developer New World Development (NWD) has successfully refinanced HK$88.2 billion (US$11.3 billion) of debt just before the deadline, concluding months of negotiations that pulled the company back from the brink of default. The refinancing package includes multiple tranches of bank loans with varying maturities, with June 30, 2028, being the earliest, the developer said in an exchange filing on Monday. The package would 'allow the group more flexibility to better manage its expected ongoing business and financial needs', the statement said. 'The new bank facility and the aligned bank facilities have terms, including financial covenants and security interests granted over certain of the group's assets.' CEO Echo Huang Shaomei said the successful refinancing 'is a testament to the confidence' placed in the company's operations, adding that the group's financial strategy prioritises reducing debt and improving cash flow. New World CEO Echo Huang Shaomei said the successful refinancing was a testament to the confidence placed in the company's operations. Photo: SOHU While local media reported that the refinancing deal was backed by some 40 of the company's assets, including the New World Tower headquarters and Victoria Dockside complex in Tsim Sha Tsui, the company did not give any details.
