HK fundamentals remain intact

September 19, 2019
HK fundamentals remain intact

Secretary for Commerce & Economic Development Edward Yau (second left) meets the Founder & Faculty Director of the Hasso Plattner Institute of Design at Stanford University Prof David Kelley (third left) in San Francisco.

Hong Kong's fundamentals as a free, open and dynamic city with a stable and robust financial system remain intact despite recent disruptions, Secretary for Commerce & Economic Development Edward Yau said today.


The secretary made the statement at a dinner hosted by the Hong Kong Economic & Trade Office in San Francisco, attended by 200 prominent local figures.


Mr Yau pointed out that Hong Kong will continue to build on its unique advantages under "one country, two systems" - a framework that guarantees Hong Kong's own system of common law, economic policy, civic freedoms, property rights and much more.


He stressed that under this framework, new and rewarding opportunities for international collaboration will continue to be created.


"Hong Kong has always been a resilient, resourceful and reasonable society. The people of the city are its greatest strength. They possess the wisdom and wherewithal to handle challenges and weather storms that come our way.


“We place our trust and faith in the rule of law and in our capacity to reform, reposition and rebuild our city in the face of crisis. We are confident that Hong Kong will bounce back again," Mr Yau said.


He also emphasised the close connections between Hong Kong and the United States in commerce, people-to-people links, culture, tourism, education exchanges and extensive government-to-government co-operation, citing a vibrant start-up scene and the fact that nearly 16% of non-local founders of start-ups in Hong Kong last year were from the United States.


In the afternoon, Mr Yau toured the Hasso Plattner Institute of Design at Stanford University, a renowned institute for design thinking philosophy, methodology and practices.


He exchanged views with the school's Founder and Faculty Director Prof David Kelley on how design thinking can be applied to public policymaking, as well as designing and providing public services.


Mr Yau also visited the Consul General of the People's Republic of China in San Francisco Wang Donghua.

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