I am looking for an article I have read about the return of Hong Kong.

In the ten years since Hong Kong's return to the motherland, Hong Kong has experienced the impact of the Asian financial crisis, global economic slowdown and the SARS epidemic. However, Hong Kong has responded calmly and successfully averted dangers time and time again. In recent years, Hong Kong's economy has shown signs of comprehensive development, and a better and more prosperous development prospect has been presented to Hong Kong and the world.

Hehua Group is a Hong Kong company with a history of more than 20 years. It has 10 large stores in Hong Kong selling parent-child products, and also publishes magazines, books, etc. Mr. Eugene is the group's CEO. He told reporters that some of his friends transferred funds abroad before Hong Kong returned to the motherland in 1997, but he chose to stay and continue to develop: "(Some friends at the time) took some funds away. Now, they (we) Compared with those companies that did not withdraw funds, they lost an opportunity. Some companies that stayed here did not develop as well (at that time) as you transferred the funds so quickly. It's very clever, but in fact you have no vision. We didn't leave, and it felt good after the development, so it was right not to leave." However, the development of Hong Kong's economy has not been smooth sailing in the past ten years since the return. Just a few months after the handover, the Asian financial crisis swept across East Asia. Naturally, Hong Kong, an international financial center, also suffered heavy losses. The stock and property markets plummeted, and the economy experienced negative growth. Eugene admitted that his confidence had been shaken at that time: "Those years in Hong Kong were very hard and difficult. In those years, I was not very optimistic about the prospects and other aspects."

Here At the critical moment, the SAR government turned the tide and, with the firm support of the central government, took a series of decisive measures to firmly curb the economic decline. First of all, the SAR government used more than 110 billion Hong Kong dollars in exchange funds to enter the market to acquire some local stocks to defend the Hong Kong stock market and maintain the stability of the Hong Kong dollar exchange rate. At the same time, the SAR government increased investment in public construction projects to stimulate economic growth and built the Hong Kong Disneyland. , expanding infrastructure such as subways and highways, bringing huge economic benefits and tens of thousands of job opportunities. In addition, the SAR government also refunds taxes to relieve the pressure on ordinary people.

It is worth mentioning that during the difficult days when Hong Kong faced the Asian financial crisis, the central government provided strong support. The RMB exchange rate remains stable, providing Hong Kong with a strong backing to overcome the financial crisis. At the same time, the central government stated that it would support Hong Kong at all costs, which played a role in stabilizing people's hearts.

Through the joint efforts of the SAR government and citizens, Hong Kong's economy has gradually recovered since the second quarter of 1999. In 2000, Hong Kong's GDP achieved a high growth of 10.2%. Mr. Tsang Hin-chi, a well-known Hong Kong entrepreneur, said that the Hong Kong SAR government was able to overcome the challenges of the Asian financial crisis and quickly restore the economy, which fully demonstrated the capabilities and vitality of the SAR government: "Ten years after Hong Kong's return, we encountered some challenges and difficulties at the beginning, ( The most important thing was the Asian financial crisis. There was a huge fiscal deficit and a high unemployment rate, which was unfavorable. But (for this crisis), we can also look at it from another point of view, which is that our SAR government is in trouble. When facing challenges and difficulties, being able to minimize losses is also a source of vitality." However, since then, Hong Kong has been faced with challenges that need to be dealt with. Affected by the economic contraction in the United States in the second half of 2000 and the "September 11" incident in 2001, global economic growth began to slow down, and Hong Kong's economy declined again; the SARS epidemic in 2003 had an impact on Hong Kong's tourism, transportation, hotel, exhibition and other industries. It also had a big impact.

In the face of these challenges, the Hong Kong SAR government has actively taken measures to reduce the fiscal deficit, increase employment, and promote economic development; at the same time, it has actively adjusted the economic structure and promoted the role of innovative technologies and high value-added industries in the economic system. proportion and regard this as the direction of Hong Kong’s future economic development. To this end, Hong Kong launched the Cyberport Plan with a total investment of HK$14 billion to promote Hong Kong to become an international information technology center. It also launched a unique GEM market to open up financing channels for emerging high-tech companies with good growth potential.

While the Hong Kong government is actively facing difficulties and challenges, the central government has also continuously introduced powerful measures to effectively support Hong Kong out of difficulties. For example, in 2003, the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) was signed, allowing many Hong Kong products to enter the mainland at zero tariff, and at the same time relaxing the access areas of Hong Kong's service industry in the mainland. This has become a major factor in promoting Hong Kong's economy. important catalyst for recovery. Subsequently, measures such as the mainland allowing residents to travel to Hong Kong in the form of "individual tours" also stimulated the development of Hong Kong's economy.

The latest information released by the Census and Statistics Department of the Hong Kong SAR Government shows that currently, Hong Kong’s consumption is booming and the unemployment rate has reached a record low. Last year, Hong Kong was rated as the freest economic system in the world for the 13th consecutive year. Last year’s total trade The amount is more than double that of 10 years ago... These fully confirm the assessment of Hong Kong's current economic situation by Hong Kong SAR Chief Executive Donald Tsang: Hong Kong's economy is in its best state in 20 years.

Ms. Wen Jingzhi, a Hong Kong citizen, said: "In fact, Hong Kong's economy has recovered since more than two years ago. Especially this year, I think Hong Kong's economy is better. We can see that the stock market and property market are booming. , so I think Hong Kong’s economy will continue to be good.

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For the future economic development, Mr. Tang Yingnian, the Financial Secretary of Hong Kong, is full of confidence. He said: "Hong Kong (will) make full use of its own favorable conditions, including a sound intellectual property protection system, a good Financing environment, extensive international contacts, etc., it provides services in applied research and development, technological transformation and intellectual property transactions in the region. "

How can you see a rainbow without experiencing wind and rain? Today's Hong Kong's economic development is showing great vitality. Mr. Eugene, a famous Hong Kong entrepreneur, said that Hong Kong people are full of confidence in the future: "Of course we are confident. Now that we have become a part of China, we will grow and progress in step with China, and we will definitely get better and better.

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