The Commission on Strategic Development, which will discuss Hong Kong’s future role in the Mainland’s development at its meeting on April 19, has issued a paper on the subject for members’ consideration. The paper says the Central Authorities have again confirmed Hong Kong’s role as an important testing ground for the Mainland’s financial reform and pledged support for Hong Kong to elevate its position as an international financial centre. Hong Kong should improve its financial infrastructure in support of the internationalisation of the renminbi as well as its renminbi financial and risk-management services. Hong Kong should also further develop renminbi products as well as renminbi settlement and investment services in Asia. Hong Kong is also well-equipped to develop into an asset and wealth management centre for the Mainland. The city should strengthen its multiple roles as a world city to serve as a bridge for Mainland enterprises to “go global” and for the Mainland to “bring in” foreign investment. In drawing up plans for country-wide shipping and road transport networks, the Central Authorities can take into consideration Hong Kong’s functions as an international aviation and shipping centre and a regional logistics hub. Hong Kong will handle an increasing volume of international transshipment business, and should further develop high-end ancillary shipping services. It is also well placed to become a high-end inventory management and distribution centre. The city should actively promote regional co-operation and integrated development in the Greater Pearl River Delta region, with a view to making the region the most dynamic and internationally competitive city cluster in the Asia-Pacific region. Hong Kong can facilitate the Mainland’s process of “enhancing the secondary industry and speeding up the development of the tertiary industry”. The Mainland and Hong Kong should continue to deepen the liberalisation measures under the Closer Economic Partnership Agreement. The city should also serve as an education hub, enhance exchanges with Taiwan, make greater contribution to the development of good relations among the Mainland, Hong Kong and Taiwan and demonstrate the successful implementation of ‘One country, two systems’, as well as strengthen regional co-operation with East Asia. Members are invited to advise on Hong Kong’s position during the period of the 12th Five-Year Plan (2011-2015) and the areas in which Hong Kong industries with clear advantages can co-operate with the Mainland.
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