Message from OHKF President - August 2020

Hong Kong has seen the third wave of Covid-19 since early July and it is the most severe outbreak for us so far. But it is gratifying to see that with the concerted efforts of various sectors of the society, the number of new confirmed cases has dropped recently. We must stay vigilant to prevent the resurgence of infections. Amidst the pandemic, all staff at the Foundation remain committed to their work and we are pleased to receive positive feedback in the society.   

On 22 July and 6 August, two ‘China Masters Series’ virtual forums were held with:  

• Dr Zhu Min, Chairman of the National Institute of Financial Research at Tsinghua University, analysed China’s economic recovery and development in the post-pandemic world. He noted that China’s first quarter GDP this year contracted year-on-year by 6.8%, but reversed the decline to post an increase of 3.2% in Q2, as a result of increased investment and exports. He pointed to the rising trend of FinTech, in particular digital currency, which holds enormous development potential for China as the world’s second largest economy.
• Judge Jiang Wei, Vice President of The PRC Supreme People’s Court, shared China’s practice of law with justice for the people and impartial justice through new policies in litigation, judicial reform, and smart courts. To watch full replay of the forums, please visit here.    

On 29 July and 18 August, two ‘INSIGHT FORUM’ live webinars were held with: 

• Mr Joseph Yam, Former Chief Executive of the Hong Kong Monetary Authority, and Non-official Member of the Executive Council of the HKSAR Government, spoke on ‘The Outlook of Hong Kong as an International Financial Centre’. Mr Yam shed light on the future outlook of Hong Kong’s monetary system under social upheaval, Covid-19 and deteriorating Sino-US relations. He noted of the importance in maintaining the USD-HKD peg and a sharp focus on preserving Hong Kong’s status as an international financial centre, and warned of potential US weaponisation of finance, which could end up hurting US itself too.
• Professor Chack-fan Lee, President of the Chu Hai College of Higher Education, and a Member of the Chinese Academy of Engineering, shared his profound insights on life enrichment, his experience in water resources management in China over the past 30 years, and his meticulous scholarship in the field of engineering. Click here for full replay of the webinars.    

Our research team launched several new initiatives last month:

• A new research report entitled ‘Strategic Land Development for Jobs: From Brownfields to Modern Logistics’ was released (view full report). The Report indicates a gradual loss of the competitive edge of Hong Kong’s logistics industry due to an absence of long-term development plans for the industry and insufficient investment in infrastructure. We propose five recommendations to the Hong Kong Government to ensure sustainable development of Hong Kong's logistics industry including 1) development of dedicated logistics nodes, 2) reforming the site allocation mechanism, 3) relocation of Kwai Tsing Container Terminals, 4) conducting economic reviews and formulating industrial policies, and 5) establishing a statutory body for the development of strategic industries.
• A virtual roundtable on ‘Health Financing in the 21st Century: The Public-Private Lever in Strategic Purchasing’ was conducted on 17 July.  Secretary for Food and Health of the HKSAR Government Professor Sophia Chan and Professor Eng-kiong Yeoh were Guest of Honour and Keynote Speaker respectively. An expert panel of ten international and local speakers discussed the challenges and opportunities to financing healthcare in the 21st century. They highlighted the need for Hong Kong to review the functions of health system financing in moving towards a visionary primary care-led health system that is sustainable. To watch full replay of the roundtable, please visit here.    

Our youth is the future. Under the current economic downturn, many young people are facing employment difficulties, not to mention the lack of upward mobility opportunities. To support these hard-hit youngsters, OHKF plans to launch several rounds of Internship Programme, to provide two-month on-the-job training for Degree Graduates who are under 25 years old. The programme will take 60 interns in each round. The first round will commence in mid-October this year. Participating interns will be offered opportunities to learn and understand issues such as sustainable development and smart city, public policy planning, consideration and advocacy, and use of social media. The programme aims at broadening their horizons, and sharpening their analytical and problem solving skills.  Nominations from you all are welcome.     

The Foundation’s title-sponsored TVB Historical Info-segment Series has been released on multiple TVB channels since 6 July. The first series ‘Every History Tells a Story’ has been popularly received among the public. To watch replay of the series, please visit here. The second series, ‘China—40 Amazing Years’, has been put on air since 15 August. This series, with 40 daily two-minute episodes, presents different aspects of China’s rapid development since its open door policy in 1978. 

The Academy of Chinese Studies launched the 2020 Liberal Studies Summer Online Reading Exercise Scheme in July and received enthusiastic participation from 70 secondary schools, covering 20,000 students. Under planning is the Academy’s new Chinese History and Culture Educational Activity Programme.   100 schools had already registered to participate in the upcoming school year.    

The first volume of Hong Kong Chronicles, Overview cum Memorabilia, is on schedule for its historic release in December. The second book, Hong Kong's Participation in China's Reform and Opening-Up, is also moving ahead for release in 2021 as scheduled. A Hong Kong Chronicles Launch Ceremony in December and an Exhibition Tour across five districts of Hong Kong starting early next year are under full preparation.   

We are pleased to announce the launch of ‘Introducing Our Hong Kong Foundation’ theme video, which underlines the mission and vision of the Foundation, and the major achievements since our establishment in 2014. Available in Cantonese, Mandarin and English. Please enjoy watching.    

Please stay safe and healthy!  

Eva Cheng
Executive Director
Our Hong Kong Foundation