Editor's note: Decision Makers is a global platform for decision makers to share their insights on events shaping today's world. Carrie Lam is the fifth-term (2017-2022) chief executive of the Hong Kong Special Administrative Region (HKSAR) of the People's Republic of China. This article reflects her opinions, and does not represent the views of the current HKSAR government and not necessarily those of CGTN.

Hong Kong has played a crucial role in the amazing journey of China's reform and opening-up since 1978, which ranges from trade and investment to management and institutional reform.

China is deepening its reform and opening-up, leading to a great modern socialist country on the basis of the report to the 20th National Congress of the Communist Party of China that was held last October. We should anticipate more visionary plans and policies to emerge from the upcoming "Two Sessions" that is scheduled for this March. I believe Hong Kong Special Administrative Region (HKSAR) under the "One Country, Two Systems" will continue to be fully engaged in the process, leveraging its unique advantages and global connectivity.

In his keynote address to commemorate the 25th anniversary of Hong Kong's return to the motherland and the inauguration ceremony of the sixth-term government of the HKSAR on July 1, 2022, Chinese President Xi Jinping praised the city's international status and unique advantages. He said, "enjoying the backing of the motherland while staying connected with the world is a notable strength unique to Hong Kong, a strength cherished by both Hong Kong residents and the Central Authorities." Accordingly, all businesses and local residents in HKSAR should leverage their unique strengths to usher in Chinese modernization and bring Hong Kong to greater heights.  

Pursuing high quality development has transformed China into a great modern state that is more open and more connected with the global economy. The high-quality capital market remains indispensable for all of China. As a pre-eminent international financial center offering rich liquidity, diverse products and robust regulation compatible with international rules, Hong Kong will continue to serve as a reliable capital market for the Chinese mainland. Its financial sector will support China's real economy as already fully demonstrated through the various Connect Schemes covering securities, bonds and wealth management between Hong Kong and the mainland, as well as the former's unchallenged status as the predominant offshore RMB hub. And in regards to green finance, Hong Kong will play an added role in China's modernization, while adhering to sustainable development and ecological harmony as its defining features.

Geopolitical tensions and growing tactics adopted by some foreign governments to suppress China have highlighted the pressing need to achieve self-reliance and innovation in science and technology. Hong Kong possessing strengths in such fields has been significantly boosted in recent years. Five of Hong Kong's publicly-funded universities are among the world's top 100 ranked and a large proportion of their research output have been judged as world leading or internationally excellent. Three of them are within the top 10 most international universities. Together with 28 laboratories jointly established by local universities and renowned overseas institutions at the Hong Kong Science Park, Hong Kong has amassed a large pool of top research talents. Recognition of Hong Kong's contribution to the country's science and technology development by President Xi when he inspected the Hong Kong Science Park on June 30, 2022 is a significant boost to our scientific community.

Building a great modern country of 1.4 billion people with common prosperity requires balanced development. In the past four decades, Hong Kong businesses have accumulated much experience with investing and starting business in nearly all parts of the country. They are the "first mover" and have remained the largest source of inbound investment on the mainland. Through their global connections and joint ventures with overseas companies, more international capital has flowed into the mainland. During the "Two Sessions," Hong Kong delegates will participate further in the opening-up of the mainland economy and offer their advice.  

Additionally, Chinese modernization promotes world peace and builds a community with a shared future for mankind. China has made admirable efforts to build a global network of partnerships and practiced multilateralism since the 18th National Congress. The world is facing unprecedented changes and peaceful reconciliation of differences and disputes are becoming more essential than ever before. Hong Kong, which has well established and internationally recognized legal services, can play a useful role here. This has been demonstrated at the opening of the Asian-African Legal Consultative Organization (AALCO) Hong Kong Regional Arbitration Centre in May 2022 and setting up of the International Organization for Mediation Preparatory Office in Hong Kong on February 16, 2023, along with support from the central government. These two landmark developments show the tremendous support of our motherland in strengthening Hong Kong's unique status under "One Country, Two Systems" and a recognition of its contribution to the country's mission in playing an active part in the development of the global governance system that will benefit the human community.

Underlying Hong Kong's global connectivity is the policy of "One Country, Two Systems" and its high degree of autonomy as enshrined in relevant provisions in the Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China. Using the name "Hong Kong, China," Hong Kong has implemented bilateral and multilateral agreements with foreign states and regions, as well as international organizations on a wide range of subjects. The HKSAR government has 14 economic and trade offices overseas promoting Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area and beyond.

Consolidating Hong Kong's role as an international city, broadening its global influence and staying connected with the world will make Hong Kong much more relevant in our country's modernization.

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