HK Has Grown Through Winds and Rains in Past Three Years

The following is the full text of the commentary written by the correspondents, Wang Jinfu and Wu Ming, of Xinhua News Agency on the third anniversary of Hong Kong's return to the motherland.

As time passes by, the Hong Kong Special Administrative Region (HKSAR) is now three years old.

Three years ago when the Five-Starred Red Flag rose slowly over the two banks of the Victoria Port, people were excited with joy, in their hearts, however, they had some misgivings: Whether Hong Kong, this "free port", can continue to keep its vigor and attraction after its return to socialist China and maintain its prosperity and stability. And whether it is really practicable to institute two systems in one country.

Over the past three years, the HKSAR has traversed an unusual path. In its advances through a rough and rugged path and winds and rains, the strings of footmarks left behind by the HKSAR in continuously overcoming difficulties provide the world's people with another proof of an irrefutable truth: All newborn things with vitality can grow sturdily amidst winds and rains.

Having returned to the embrace of the motherland after experiencing 150 years of colonial rule, the young SAR has taken upon itself the unprecedented, heavy responsibility of implementing the "one country, two systems" principle and "Hong Kong people governing Hong Kong". Since it has no precedent to follow in its implementation of administration in accordance with the Basic Law and cannot cut off its link with past times, the SAR can only grope its way forward in practice and advance through exploration.

The rule of law is the cornerstone on which Hong Kong depends for its success. Around the time of the founding of the SAR, there were both worries and debates among some people: Under the "one country, two systems" principle, will the foundation for the rule of law in Hong Kong be weakened? They queried. Over the past three years, the SAR government has spared no efforts in safeguarding the rule of law in Hong Kong, but, indeed, this has not been all plain sailing., for example, the case concerning the right of residence which has evoked the extensive concern of the Hong Kong people is a case in point.

In January 1999, the Hong Kong Final Appeal Court made a decision, that was inconsistent with the Basic Law, regarding the right of residence for children who were given birth by Hong Kong people in the inland areas of China, and the result of this court decision would lead to an increase in the number of 1.67 million people coming from the inland to settle down in Hong Kong in the next 10 years, and this is beyond the bearing capacity of Hong Kong society. In the face of this difficult problem, the HKSAR government , under the circumstance of gaining the support of most legislative council members, requested that the State Council submit to the Standing Committee of the National People's Congress for interpretation of the Article of the Basic Law concerning the right of residence. After the legislative meaning of the Basic Law was made clear, the social problem brought about by the judgment of the Final Appeal Court was readily resolved.

After the disturbances were over, not only ordinary residents, but also four senior judges of Hong Kong openly indicated: Hong Kong's judicial independence has not been shaken in the least as a result of the event of interpreting the law; It has been noticed not only by Hong Kong society, but also the whole world that the foundation for Hong Kong's rule of law remains as firm as a rock.

As to the freedom regarded as life by Hong Kong people, over which debate has not ceased in Hong Kong society over the past three years. At first, the bone of contention was the worry that locals' freedom would be subjected to restriction after Hong Kong's homecoming; today, the debate is still going on, only the core of debate is being shifted; While people see the fact that the freedom of the press, and the freedom of speech and assembly are fully protected, they also noticed that the abuse of the freedom of the press by some news media and the free accusation by some people may harm others' freedom and social order, therefore it is hope that such action should be put under regulation and management. Disputes are not a bad thing, it is these disputes that have stimulated people to have a deeper understanding of the "one country, two systems" principle, push Hong Kong people to advance from exploration to maturity through governing Hong Kong, and promote the SAR to grow from strength to strength.

The economic development of the HKSAR, as an international center of finance, trade and commerce, has likewise traversed a rough and rugged road.

In the fall of 1997, the just established HKSAR was subjected to the strong impact of the Asian financial storm, and its economy glided all the way down. Hong Kong hitherto with finance and real estate as its pillar industries fell into the situation characterized by a slump of the stock market and the depression of the housing market. People began to waver in their confidence. The SAR government, under the "one country, two systems" frame and with the motherland as the strong backing, took drastic measures to stabilize the stock market and the financial market, intensify the exchange-rate system and later, to deal with the economic structural problems emerged during the financial storm, engaged in bold readjustment. Based on innovative science and technology, it vigorously developed high value-added industries and cultivated new economic growth points.

After more than a year's effort, in the second half of 1999, Hong Kong's economy eventually got out of the slump and began recovering; gross local output value reversed the declining tendency of negative growth, the stock market had a sharp rise, the housing market was stable, exports grew, and consumption picked up, most significantly, the series of reform and readjustment measures born as a result of the financial storm have solidified the status of Hong Kong being the international financial center and strengthened its ability to resist risks.

Today, a beautiful sight of a clear sky has appeared before the HKSAR after the rain. Just as is stated in the third administrative report of Tung Chee Hwa, chief executive of the HKSAR, "Facts in the past two years and more have proved that we have ample ability to meet the most grim tests; the goal we set are being gradually translated into reality. Facts of the future will further prove that we likewise have adequate ability to grasp the opportunity to create an even better future."



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