Beijing's unfailing support

Hong Kong and Macao received an early lai see from the mainland on Tuesday when relevant authorities pledged to "do their best" to ensure a stable supply of good-quality food, water, electricity and natural gas to the two SARs during the upcoming Chinese New Year holidays.

This piece of good news could have just slipped by without inviting much attention from most of us as the city continues to be burdened by the problem of parallel goods traders.

Who would realize that such move, taken for granted by most people, actually reflects the central government's unshakeable, lasting support for Hong Kong? The mainland's efforts to guarantee an uninterrupted food flow to Hong Kong started as early as 1962 when the "Three Express Trains", dubbed the "lifeblood" of Hong Kong, brought loads of livestock from 28 provinces to the city, providing nearly 90 percent of the livestock consumed by Hongkongers during the peak periods in the 1980s.

Apart from securing a stable supply of food, water, electricity, natural gas and other daily necessities, Hong Kong has also been blessed with the central government's unlimited support in times of crises.

At the peak of the 1997-98 Asian financial turmoil, when Hong Kong came under fierce attack by financial speculator George Soros and his accomplices, the central government pledged to protect Hong Kong "at all costs". Beijing sent senior officials to the SAR to help thwart the financial raiders. Red-chip and China-affiliated companies in Hong Kong were asked to help shore up the city's share market to fight the speculators.

The SAR successfully repelled the attack, sparing itself from the ill fate suffered by other Asian economies. The city's economy showed resilience after the Asian financial crisis thanks to its sound financial standing, which has benefited from the central government's successful efforts to secure a hefty financial reserve for the SAR government, pressuring the then British colonial government to give up extravagant spending.

The support continued after the handover of Hong Kong, as seen during the city's battle against the SARS epidemic in 2003, in the CEPA agreement and through the 36 supportive economic measures announced by Vice-Premier Li Keqiang during his visit to Hong Kong in 2011.

People with a pint of wit will understand that all these efforts are aimed at maintaining Hong Kong's long-term prosperity and its people's quality of life.

(HK Edition 01/30/2013 page9)