'Economy Must Come Before Universal Suffrage Target'
"); jQuery("#212 h3").html("

"); });
2021-12-27 HKT 13:24
A top legal scholar in Beijing said on Monday that the target of allowing Hong Kong to select its chief executive and all members of the legislature by universal suffrage hasn’t changed, but the city should focus on developing its economy and improve people’s livelihood first.
Speaking at a briefing on Beijing’s recent white paper on Hong Kong’s democratic development, Wang Zhenmin, the vice-chairman of the Chinese Association of Hong Kong and Macau Studies, said the "One Country, Two Systems" principle had at one stage deviated greatly from its original intent.
He noted that some people were worried about whether the central government would be angry and change its policy towards Hong Kong.
He said the white paper, issued by Beijing after this month's Legislative Council election, states clearly that the central government is determined to continue to implement the "One Country, Two Systems" principle.
Wang added that Beijing had done a lot in the past two years to save Hong Kong and its democratic system, and to fight against anti-China forces intent on causing trouble in the SAR.
He cited the white paper as saying that the SAR’s target of achieving “dual universal suffrage”, as stipulated in the Basic Law, hadn’t changed.
But he said Hong Kong needs time to recuperate after serious political turmoil.
“We have paid a high price for the new democratic system today. My feeling is that people have been longing for stability," he said.
"Society needs to recuperate and resources should be used to develop the economy and improve people’s livelihood. A strong economic and societal basis is needed for Hong Kong’s democratic development."
Alibaba Invests Over US$50 Billion To Drive AI And Cloud Expansion By 2028
Alibaba Group (9988.HK) revealed plans to invest over 380 billion yuan (US$52.44 billion) into its cloud computing and ... Read more
SFC IOSCO Asia-Pacific Meet-up Sets Roadmap For Sustainable And Secure Capital Markets
The Securities and Futures Commission (SFC) recently participated in a series of dialogues under the International Orga... Read more
WeLab Bank Accelerates AI Deployment With Deepseek To Enhance Efficiency
WeLab Bank has taken a significant step forward in its AI deployment strategy by exploring innovative solutions to enha... Read more
Fusion Bank Completes Core Banking System Migration In 10 Months With Tencent Cloud
Fusion Bank, a licensed digital bank in Hong Kong, has completed its migration to a new core banking system in collabor... Read more
Hong Kong Banks Can Begin Issuing Credit Cards In Mainland China From March 1
Hong Kong banks’ mainland credit cards will soon be available in mainland China, marking a significant step towards d... Read more
SFC Introduces ASPIRe Roadmap To Strengthen Virtual Asset Market In Hong Kong
The Securities and Futures Commission (SFC) outlined 12 key initiatives under the SFC virtual asset ASPIRe roadmap to e... Read more