SARs urged to seize opportunities

The SAR government announced on its website on Monday that the city's GDP increased by 4.1 percent year-on-year in real terms in the third quarter of 2023, compared with a 1.5 percent increase in the second quarter of 2023.

In his 2023 policy address, Lee outlined steps to reinforce Hong Kong's status as an international financial center, including steps to enhance stock market liquidity, expand offshore renminbi business, deepen collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area and venture into green finance.

Hong Kong successfully conducted its seventh District Council Ordinary Election, the first of its kind since the SAR reformed its District Council system, on Dec 10.

Tam Yiu-chung, a former Hong Kong member of the National People's Congress Standing Committee, emphasized that Xi's remarks not only recognized the efforts of the chief executive and the Hong Kong SAR government in the past year, but also reiterated the commitment to the "one country, two systems" policy.

He added that President Xi also called upon the SAR government to unite all sectors of society in planning for future development. The overall meeting gave full recognition to the chief executive's efforts and boosted the Hong Kong society's confidence about future development.

Lau Siu-kai, a consultant for the Chinese Association of Hong Kong and Macao Studies, told China Daily that President Xi has shown that he deeply cares about the Hong Kong SAR government's work on safeguarding national security, the improvement of local governance under the principle of "patriots administering Hong Kong", the handing of livelihood issues, and the Hong Kong SAR's integration into the overall development of the country.

Xi also gave full recognition to the work of Ho Iat-seng and the Macao SAR government on Monday, commending their efforts in amending the SAR's national security law and strengthening the lawful management of the gaming industry.

He praised the SAR government for coming up with its first systematic plan to diversify its economy, continuously expanding its international exchanges and maintaining social harmony and stability.

The president reaffirmed the nation's commitment to comprehensively implement the principle of "patriots administering Macao".

Beijing will extend full support to Ho and his government in continuously advancing the successful practice of "one country, two systems "with Macao characteristics and celebrate the 25th anniversary of the city's return to the motherland next year with new outcomes of development, the president said.