Adjustments Needed to Fortify National Security

In a recent meeting with the Mainland Affairs Council (MAC), cross-strait experts have emphasized the urgent need for the Hong Kong government to implement timely policy revisions. This call comes in light of Hong Kong's escalating geopolitical significance amidst the intensifying rivalry between the United States and China.

Shifts in Governance and Society

Experts from academia and think tanks voiced concerns that Beijing has significantly undermined Hong Kong’s governing authority, enforcing strict adherence to national security protocols across all societal dimensions. Furthermore, the influx of Chinese students enrolling in local universities has sparked dramatic societal transformations.

Cautious Approach Toward Taiwan Relations

The members highlighted that, unlike the Taiwan Ministry of Economic Affairs and Tourism Administration, which can place representatives in Shanghai, Taiwan currently lacks official presence in Hong Kong. "This situation reflects the Hong Kong government’s increasingly cautious stance regarding Taiwan affairs," they noted, indicating potential challenges for MAC personnel based in Hong Kong.

Ongoing Monitoring and Strategic Adjustments Required

To address these evolving dynamics, the council members urged the Taiwanese government to closely observe the political and economic developments in Hong Kong as well as international responses. They stressed the necessity for Taiwan to adjust its policies in a timely manner, taking the shifting environment into account.

US-China Tensions Show No Signs of Abating

The experts pointed out that the gap in economic and political influence between the US and China has been narrowing since 2008, and this competitive trend is unlikely to change in the foreseeable future. They confirmed that Hong Kong continues to function as a crucial geopolitical bridge, particularly within the global economy, trade, and financial sectors, despite perceptions that US interest in Hong Kong may have waned.

Financial Landscape and Future Outlook

While there hasn't been a significant exodus of financial firms from Hong Kong, experts noted a steady rise in Chinese companies and banks listed on the Hong Kong stock exchange. Additionally, they identified falling housing prices and the withdrawal of foreign investments as key indicators of the region's changing economic landscape, underscoring the urgent need for policy revisions to navigate these challenges.