【CGTN】 National Security Law for HKSAR: Experts: Legislation adds economic vitality to the Greater Bay Area

Hong Kong is well renowned as an international financial hub and a key player in southern China's economy, but its reputation has suffered in recent months due to social unrest and violent protests. The central government says the national security law will help restore confidence. Li Jianhua has more. 

A new driver of China's economy. The "Greater Bay Area" is a world-class integrated economic and business hub that incorporates the special administrative regions of Hong Kong and Macao, as well as nine major cities on the mainland. The crown jewel of the plan is undoubtedly Hong Kong, but the social unrest of 2019 put a damper on its prospects.

PROFESSOR GUO TIANWU Deputy Dean, Institute of Guangdong, Hong Kong and Macao Development Studies Sun Yat-sen University "The Greater Bay area has a clear plan in terms of Hong Kong's development. However, the turmoil of the past year has made it difficult for the HKSAR government to achieve the outlined one-year and three-year goals."

The unrest had a huge impact on the local economy dropping 1.2 percent year-on-year in 2019, the first annual contraction in over a decade while foreign investment fell by more than 12 percent. 

REGINA IP LAU SUK-YEE Chairwoman, New People's Party in HKSAR "The first thing we need is a restoration of order, and stability in our society. We can't have people causing havoc in shopping malls and mass transit stations. All of this affects business and business confidence. Investors would not come if it seemed the Hong Kong government could not maintain control. So we needed tougher laws – laws which had a sufficient deterrent effect to bring back law and order in our society."

Enter the new National Security Law. The hope is, that with a strong deterrent in place, law and order will be protected, and the region will be free to flex its economic and financial muscle once again.

REGINA IP LAU SUK-YEE Chairwoman, New People's Party in HKSAR "There are plenty who look forward to the enactment of the new national security law in the hope that it would quickly restore order and stability. That's the prerequisite for reactivating our economy."

PROFESSOR GUO TIANWU Deputy Dean, Institute of Guangdong, Hong Kong and Macao Development Studies Sun Yat-sen University "When Hong Kong is stabilized, the Greater Bay Area will be stabilized. The regions will thus see an orderly flow of talent, logistics and capital. Hong Kong's advantages can only be brought into play if it is integrated into the Greater Bay Area. Hong Kong should seize the opportunity to boost its economy and improve people's livelihoods."

China's been getting on with the task of expanding the Greater Bay Area. In May, it announced a set of financial guidelines aimed at further opening up the regional economy.

REGINA IP LAU SUK-YEE Chairwoman, New People's Party in HKSAR "I think we really need to make greater use of the Greater Bay Area to consolidate. We would continue to contribute by way of promoting convergence with international rules and norms of behavior. In other words, contributing to the continuous modernization of the Greater Bay Area. That will continue to be our unique contribution."

The social unrest has put a severe strain on Hong Kong's economy. Experts say the city is longing for the kind of stability which can spur growth and investment and that the new law could be the turning point.

With Chen Yilin, Li Jianhua, CGTN, Guangzhou.

原文链接：https://news.cgtn.com/news/346b7a4d30514464776c6d636a4e6e62684a4856/index.html