Antonello De Riu

Points out that massive reserves, full employment and a plum position in the B&R and Greater Bay Area projects augur bright prospects for city

Since its inception on July 1, 1997 the Hong Kong Special Administrative Region has encountered tough challenges, from the Asian financial crisis to the outbreak of SARS epidemic, yet made extraordinary achievements based on its core strengths of global connectivity, rule of law and role as an international financial center.

The government’s fiscal reserves are at a record high, merchandise exports increased substantially and unemploy- ment remains at a record low. Moreover, political rights continue to be exercised by disparate sectors of the community as was guaranteed by the Basic Law. The unique “one country, two systems” formula clearly has worked wonderfully as Hong Kong attracted an unprecedented number of visitors from all over the world in the past 20 years. Women can walk its streets unaccompanied any hour of the day, thanks to the professionalism of its finest, its government is universally regarded as one of the most efficient and least corrupt, and its transport network The author is Italy’s consul-general for Hong Kong and Macao.

duly rated as one of the most reliable anywhere. It’s no accident that the city has been designated to play a pivotal role in the internationalization of the yuan on account of its world-class banking and financial services.

Looking to the future, the HKSAR faces significant challenges as well as historic opportunities beyond its borders, potentially benefiting not only itself but China as a whole, and other countries. Perhaps the most demanding task the new SAR