Basic Law of HKSAR plays vital role in maintaining HK prosperity, stability: Bangladeshi exper

DHAKA, June 22 (NsNewsWire) — The successful implementation of the Basic Law of the Hong Kong Special Administrative Region (HKSAR) has played a vital role in maintaining prosperity and stability in Hong Kong over the past 20 years since Hong Kong returned to China, an expert here said, reports Xinhua.

On July 1, 1997, the Chinese government resumed the exercise of sovereignty over Hong Kong, and Hong Kong returned to the embrace of the motherland and embarked on the broad road of common development with the Chinese mainland.

Enacted in accordance with China’s Constitution, the Basic Law specifies the guidelines of “one country, two systems,” and “Hong Kong people administering Hong Kong” with a high degree of autonomy.

Mahbubur Rashid, a senior journalist of The Financial Express, Bangladesh’s well-known English financial daily, said the Basic Law has played a vital role over the past 20 years in maintaining prosperity and stability in the HKSAR.

He said it managed to serve the fundamental purposes of both safeguarding national sovereignty, security and development interests as well as maintaining Hong Kong’s long-term prosperity and stability.

He said the coordinated and joint development of the HKSAR and the Chinese mainland not merely improved their overall competitiveness, but provided the world new experiences of cooperation between regions of different systems, thus enriching “one country, two systems.”

“One country, two systems” is a basic state policy the Chinese government has adopted to realize the peaceful reunification of the country.

The policy has ensured Hong Kong’s smooth return to the motherland on July 1, 1997, and at the same time, the Hong Kong Special Administrative Region was established and the Basic Law came into effect.

“So far we understand the Basic Law was well received by Hong Kong citizens who now feel better to return to China fully,” said the expert who has decades of experience in covering global developments and political activities.