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National security law ensures stability, prosperity in Hong Kong: experts

China

China

China

National security law ensures stability, prosperity in Hong Kong: experts

2025-06-30 17:15 Last Updated At:18:57

Implementation of the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (HKSAR), which is popularly known as the Hong Kong national security law, has ensured stability and prosperity in the region and long-term and steady implementation of the "one country, two systems" since its enactment five years ago, according to experts from the HKSAR.

The Law on Safeguarding National Security in the HKSAR was passed at the 20th session of the 13th Standing Committee of the National People's Congress (NPC) on June 30, 2020.

In an interview with China Central Television on the occasion of the fifth anniversary of the entry into force of the law, HKSAR Chief Executive John Lee said the concept of national security has been well promoted among the public in Hong Kong over the past five years.

"I've seen great progress in promoting the concept of national security. In reality, there are around 20 aspects concerning national security, including financial security and energy security. Now ordinary people in Hong Kong have gained a better understanding of the broad coverage of the concept. So, I think it has had a positive effect on all residents to safeguard national security," said Lee.

The law has also helped to put the principle of "patriots administering Hong Kong" into practice, said Gordon Lam, an NPC deputy from Hong Kong.

"We see that since the entry into effect of the Law on Safeguarding National Security in Hong Kong five years ago, the region's electoral system has been improved and the principle of 'patriots administering Hong Kong' has been practiced. Now Hong Kong has restored security and stability, and it is striving for economic development and wellbeing for the people. Hong Kong has once again ranked the third globally among international financial hubs, and its international business environment and the competitiveness of talents have also returned to within the Top 10 globally. It remains the world's freest economy. These indicate the importance of national security in safeguarding economic development," said Lam.

The law-based governance in Hong Kong under the "one country, two systems" principle has been well recognized by the Chinese central government and the international community, with the International Organization for Mediation (IOMed) headquartered in the region, said Lin Feng, dean of the School of Law at the City University of Hong Kong (CityUHK).

"Headquartering IOMed in Hong Kong shows our country's trust in the region and its hope to make it an international 'capital of mediation,'" said Lin. Now Hong Kong is integrating into the national development, playing a unique role in connecting with the rest of the world and cultivating talents, said Johnny Ho, associate vice-president (enterprise) of CityUHK.

"As Hong Kong is integrating into the national development strategy, it is playing the role of a super connector and an added value creator. Hong Kong's universities have unleashed greater potential in talent cultivation, in integration between the government, industries, universities and research institutes, in making innovation breakthroughs, as well as in transforming their talent advantages into a driving force for innovation and entrepreneurship. Joint efforts are being made to promote the development of new quality productive forces in Hong Kong and realize the vision of making Hong Kong an international innovation and technology hub," said Ho.

National security law ensures stability, prosperity in Hong Kong: experts

National security law ensures stability, prosperity in Hong Kong: experts

The price of aluminum, a key industrial metal used in automotive manufacturing, construction and packaging, has been climbing as production cuts in the Gulf region, logistical constraints and Iranian attacks on two regional producers over the weekend tightened supply.

On March 31, the benchmark London Metal Exchange (LME) three-month price for aluminum rose to 3,535 U.S. dollars per metric ton, a year-on-year increase of around 40 percent.

Iran's Islamic Revolutionary Guard Corps (IRGC) said on Sunday that they launched missile and drone strikes on aluminum plants in Bahrain and the UAE that are linked to the U.S. military and aerospace industries, in retaliation for U.S.-Israeli attacks on Iranian steel factories.

Emirates Global Aluminium issued a statement saying that its Al Taweela site in the Khalifa Economic Zone in Abu Dhabi was severely damaged after Iranian strikes, with some employees injured.

Aluminum Bahrain confirmed in a statement on Sunday that some of its facilities were struck by Iranian attacks, resulting in injuries to two employees.

The two aluminum plants have a combined annual output of 3.2 million tons, more than half of the approximately 6 million tons of aluminum produced every year by Gulf Cooperation Council (GCC) member states.

The region is a key source of aluminum supply, accounting for about 9 percent of global production.

Goldman Sachs on Tuesday raised its LME aluminum price forecast from 3,200 U.S. dollars to 3,450 U.S. dollars per ton for the second quarter of 2026 after the attacks on the facilities.

Goldman Sachs also predicted a global primary aluminum market supply deficit of 570,000 tons in 2026, a sharp turnaround from its previous forecast of a 550,000-ton surplus.

Analysts point out that the aluminum market is currently facing multiple shocks, with shipping in the Strait of Hormuz disrupted, aluminum production facilities in the Gulf damaged or even shut down, and production in other parts of the world currently limited.

The impact will also spread to downstream enterprises in the coming months, with higher-cost aluminum alloys, primarily used in the aerospace, automotive, and construction industries, facing the most constrained supply, analysts said.

The Gulf region has long been a significant source of these high-end products, particularly for the European market, and also supplies manufacturers in the United States.

Aluminum prices climb as effects of Middle East tensions spread through global economy

Aluminum prices climb as effects of Middle East tensions spread through global economy

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