Xi Jinping’s Visit to Hong Kong

CHINA ADVISORY - Report 14 Jul 2022 by Andrew Collier

Xi Jinping’s chose Hong Kong as his first trip out of the mainland in two years as a symbol of global power and an expression of support for the incoming Chief Executive. His comments, along with other recent events, provide some clues to how China intends to govern Hong Kong. We can conclude that:

1) Larger political changes are unlikely as control has now been exercised.
2) Hong Kong’s role as a financial center is important primarily as a symbol of Chinese global expansion. Its position as an alternative to New York for Chinese companies to raise capital is far less important.
3) The intrusion of the Communist Party in Hong Kong life will gradually erode Hong Kong’s advantages in law, educational, and in the financial system, but this will take time.
4) Integration with the Greater Bay Area will be detrimental to Hong Kong’s advantages as a global city.

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