The national security law in Hong Kong has fostered stability since its implementation on June 30, 2020, restoring investor confidence and enhancing the city's long-term appeal as a global business hub, according to a senior investment official.
Marking the fifth anniversary of the legislation and the 28th anniversary of Hong Kong’s return to the motherland, Alpha Lau, director-general of Investment Promotion at Invest Hong Kong, highlighted in an interview how the National Security Law has resolved uncertainties that previously concerened international investors.
"I think after the 2019 unrest, we did have a shift in the sentiment from foreign investors, not counting Hong Kong and Chinese (mainland) ones. At that time, it was mostly inquiries or the concern that the unrest might cost the business. The actual figures did not really slow down a lot per se. We need certainty, we need stability to do business, that's what they all say. And there's enough instability in the financial world already without these added insecurities. Whilst the sentiment was indeed quite skeptical at that time, the introduction of the National Security Law actually brought stability to the region, for sure. For Hong Kong and for a lot of companies, that actually gave them the stability they needed to then further expand or to confirm their investments," said Lau.
She added that recent survey results point to renewed confidence among foreign firms operating in the HKSAR.
"Earlier this year, for example, the American Chamber of Commerce did a survey in Hong Kong and over 70 percent of the American companies surveyed said that the National Security Law did not really affect them negatively. If anything, it brought stability to their investment decisions, which are frequently longer-term. And over 60 percent of them said they would actually increase their investments in the region, in Hong Kong, and into Greater China. So, I actually feel that the National Security Law has brought stability, in fact, to Hong Kong, and made the environment far more investable for a lot of companies," said Lau.
The law, which came into effect in June 2020, aims to safeguard national security while maintaining Hong Kong's long-term prosperity and social order.
National security law brings stability, boosts investor confidence in Hong Kong: investment chief
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
