Give Hong Kong's dual advantages full play

Give Hong Kong's dual advantages full play Updated: 2017-06-30 06:44 Since Hong Kong is celebrating its 20th anniversary of returning to the motherland, it should be a good time to review the advantages the city enjoys that have been the envy of its regional competitors as well as many provinces, autonomous regions and municipalities on the Chinese mainland. The customs advantage means Hong Kong is virtually an independent economic entity with its own independent finance and taxation system; it needs not bear any national fiscal burden and can use all fiscal revenue exclusively for its own purposes.It has also managed to create an economic and legal environment conducive to maintaining its status as an international financial center with monetary and financial systems prescribed by local laws as well as monetary and financial policies formulated on its own. To facilitate Hong Kong businesses and products' entry into the mainland market, the central authorities have offered preferential measures including the Closer Economic Partnership Arrangement with Hong Kong. One would naturally ask: Why Hong Kong has not achieved much greater prosperity after gaining brilliant economic achievements during the "Four Asian Dragon" era?