Hong Kong Chief Executive Carrie Lam (林鄭月娥) yesterday said that the government was about to announce the formation of an independent committee to study the situation in the territory, which has been rocked by seven months of protests.
Lam said during the annual meeting of the World Economic Forum in Davos, Switzerland, that Chinese President Xi Jinping (習近平) was committed to Hong Kong’s special status.
She also appealed to what she called “violent protesters” not to destroy Hong Kong and said that nothing was more important to the territory than the rule of law.
Photo: Reuters
On Tuesday, Lam sought to convince global business and political leaders at Davos that the Asian financial hub is open for business.
Hong Kong’s status has come under scrutiny as seven months of sometimes violent demonstrations have paralyzed parts of the territory and forced businesses to close, posing the gravest popular challenge to Xi since he took power in 2012.
Lam and “Team HK,” including Hong Kong Secretary for Commerce and Economic Development Edward Yau (邱騰華), top officials from the stock exchange, the Airport Authority of Hong Kong, MTR Corp and the head of Swire Group, are at the Swiss mountain resort after Moody’s Investors Service this week downgraded Hong Kong.
HKEX chairman Laura Cha (史美倫) on Tuesday said that Hong Kong has held up remarkably well despite the protests.
“We are resilient. We are stable and investors still have confidence in us,” Cha said in Davos. “The rule of law is sound in Hong Kong.”
Speaking in an interview with CNBC in Davos, Lam said that she was “very disappointed” by the Moody’s decision.
Another challenge is to tame the protest movement — which kicked off the year with rally that organizers said drew 1 million people — and bolster support for the beleaguered government ahead of key elections in September.
On Sunday, police fired teargas to disperse thousands gathered in Chater Garden, a small open park ringed by the Asian headquarters of leading global investment banks and law firms.
“There will be a major crisis of governability because I think the government has no credibility and I think it faces major resistance, both in the legislature and district councils,” said Ma Ngok (馬嶽), a political scientist at the Chinese University of Hong Kong.
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