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
A China-Kyrgyzstan joint archaeological team has recently uncovered evidence of the two countries' shared history along the ancient Silk Road through excavations at the Krasnaya Rechka site in Kyrgyzstan.
Excavations at the site have yielded a batch of valuable cultural relics dating to around the 10th century AD, shedding light on how different cultures blended along the ancient Silk Road. "Our archaeological work officially started in Kyrgyzstan in 2018. Based on our preliminary research, the Chu river valley is a key area where many archaeological sites are distributed. The cities of Suyab, New City (Krasnaya Rechka site) and Talas, frequently mentioned in Chinese literature, are all related to the Chu river valley in Kyrgyzstan. Therefore, we selected the New City site for our archaeological work," said Shao Jing, deputy director of the Shaanxi Provincial Institute of Archaeology.
The Krasnaya Rechka site, located in Kyrgyzstan's Chui Region and covering an area of approximately 20 square kilometers, is known as New City as recorded in medieval Chinese and foreign documents.
After five years of systematic excavations, the joint archaeological team has made significant discoveries at important locations, such as Buddhist temples and city walls.
Among the findings were a batch of valuable artifacts from around the 10th century AD, which highlight the blending of diverse cultures along the ancient Silk Road. The discoveries provide important physical evidence for studying the interaction and integration among oasis civilization, steppe civilization and Central Plains civilization.
During the medieval period, Sogdian merchants traveled through the Chui Region to reach the East, while the Tang Dynasty (618-907) established the ancient city of Suyab, spreading advanced Central Plains technology and culture deep into Central Asia.
The joint excavations have also further fostered inter-civilization mutual learning and strengthened the deep-rooted friendship between the two countries. "In recent years, we have brought relatively mature technologies, methods and theories from China to Kyrgyzstan, including archaeology methods for settlement sites, city site excavation techniques, advanced surveying and mapping technologies, as well as remote sensing technologies. These methods and technologies have facilitated the presentation of some very important archaeological findings at the New City site. We have also demonstrated the crucial interconnectedness of the Silk Road from its origin to its course with archaeological evidence," said Shao.
Chinese, Kyrgyz archaeologists uncover shared history along ancient Silk Road
