{"id":140942,"date":"2021-10-06T13:28:34","date_gmt":"2021-10-06T13:28:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=140942"},"modified":"2021-10-06T13:28:34","modified_gmt":"2021-10-06T13:28:34","slug":"hong-kongs-leader-says-national-security-law-has-city-back-on-the-right-track","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/hong-kongs-leader-says-national-security-law-has-city-back-on-the-right-track\/","title":{"rendered":"Hong Kong&#x27;s leader says national security law has city &#x27;back on the right track&#x27;"},"content":{"rendered":"<ul>\n<li>Hong Kong&#x27;s controversial national security law and electoral changes have brought the city &quot;back on the right track,&quot; Chief Executive Carrie Lam said in her annual policy address on Wednesday.<\/li>\n<li>According to Hong Kong&#x27;s top leader, who was appointed by Beijing, the changes have ushered in a &quot;favorable era&quot; for Hong Kong to plan for its future.<\/li>\n<li>Lam also proposed developing an area in the north of Hong Kong into a metropolis, and discussed land and housing policy in the city.<\/li>\n<\/ul>\n<p>Hong Kong&#x27;s national security law and electoral changes have brought the city &quot;back on the right track,&quot; Chief Executive Carrie Lam said in her annual policy address on Wednesday.<\/p>\n<p>According to Hong Kong&#x27;s top leader, who was appointed by Beijing, the changes have ushered in a &quot;favorable era&quot; for Hong Kong to plan for its future.<\/p>\n<p>Massive anti-government protests erupted in 2019 over a now-withdrawn extradition bill, and the demonstrations sometimes turned violent. The proposal of the national security law last year reignited mass demonstrations, but the law was eventually passed.<\/p>\n<p>Some 117 people \u2014 including politicians and activists \u2014 were reportedly arrested under the law in the first 12 months after it took effect in 2020.<\/p>\n<p>In May of this year, Hong Kong&#x27;s legislature passed a bill that, among other measures, reduced the number of legislative seats that are directly elected by Hong Kong voters to only 20 out of 90, and set up a committee that screens candidates to ensure they are &quot;patriots.&quot;<\/p>\n<p>&quot;With the implementation of the National Security Law and improvement to our electoral system, chaos has ended and social order has been restored,&quot; she said, according an official English translation of her remarks. &quot;We are now embracing a new era where we can focus on economic development.&quot;<\/p>\n<p>She reiterated that point several times during her two-hour long speech.<\/p>\n<p>Her 2019 address was &quot;disrupted and paralyzed&quot; by &quot;anti-China&quot; opposition lawmakers, Lam said.<\/p>\n<p>This was Lam&#x27;s final policy address in her current term as chief executive. Hong Kong&#x27;s next chief executive election is due to take place in March next year.<\/p>\n<p>Hong Kong, a former British colony that was handed over to China in 1997, was promised autonomy for 50 years.<\/p>\n<p>The Chinese financial hub is governed under the &quot;one country, two systems&quot; framework and has freedoms that other Chinese cities do not have, such as limited election rights and a largely separate legal and economic system.<\/p>\n<h2>&#x27;Back on track&#x27;<\/h2>\n<p>Lam touted Wednesday&#x27;s calm policy speech as a &quot;clear manifestation that the Hong Kong [Special Administrative Region] has got back on the right track of &#x27;one country, two systems.&#x27;&quot; She praised the national security law and electoral reforms under pro-Beijing lawmakers in the city for the &quot;timely curb on the chaos in the city.&quot;<\/p>\n<p>&quot;Any accusation that these two major initiatives of the central government have undermined &#x27;one country, two systems&#x27; is nonsense and groundless,&quot; she said.<\/p>\n<p>The chief executive claimed initial concerns about the national security law among businesses have &quot;notably subsided&quot; and that firms are now most concerned about Covid restrictions on cross-border travel.<\/p>\n<p>A May survey by the American Chamber of Commerce in Hong Kong found that 42% of its members who responded are considering leaving the city, and the &quot;most widely shared concern was discomfort&quot; due to the national security law.<\/p>\n<p>Lam said the number of business operations in Hong Kong with parent companies overseas or in the mainland reached all-time highs this year, as did the number of start-ups in the city.<\/p>\n<p>&quot;It can be seen that our business environment has not been undermined by the impact of the pandemic and the biased reports of Hong Kong&#x27;s situation by certain Western media,&quot; she said without naming them.<\/p>\n<h2>Land, housing development<\/h2>\n<p>Separately, Lam proposed developing an area in the north of Hong Kong into a metropolis for residential and industrial use.<\/p>\n<p>It could be a hub for innovation and technology, and help Hong Kong and Shenzhen&#x27;s development, she said.<\/p>\n<p>Current plans indicate that 350,000 residential units could be created in this Northern Metropolis, with the potential for another 186,000 more units.<\/p>\n<p>The Hong Kong leader also provided updates on the government&#x27;s housing policy for Hong Kong, which is one of the most expensive residential property markets in the world.<\/p>\n<p>&quot;Providing decent accommodation for all is the primary goal of my housing policy,&quot; Lam said in her speech, noting that the long waiting time for public rental housing allocation is &quot;worrying.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/10\/06\/hong-kongs-carrie-lam-says-national-security-law-has-curbed-chaos.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong&#x27;s controversial national security law and<\/p>\n","protected":false},"author":3,"featured_media":140941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23055],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong&#x27;s leader says national security law has city &#x27;back on the right track&#x27; - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/politics\/hong-kongs-leader-says-national-security-law-has-city-back-on-the-right-track\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong&#x27;s leader says national security law has city &#x27;back on the right track&#x27; 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