Functions and Positioning
59. With its deep and extensive connections with the world, Hong Kong will continue to be an important platform for economic exchanges and trade between the Mainland and the international community. As mentioned in the Proposal for Formulating the National 14th Five-Year Plan, our country supports Hong Kong in consolidating and bolstering our competitive edges, building the city as an international I&T hub, fostering the development of the city as a B&R functional platform, and achieving diversified and sustainable development of the economy. With our country's support, we can further capitalise on our advantages and realise our potential. We must step up our efforts to explore international economic and trade opportunities and actively participate in national development through making use of our industries with competitive strengths.
60. Hong Kong has prominent functional roles in various aspects such as pooling international capital and talent, and providing a platform to align our country's standards with the international ones. In addition, Hong Kong serves as a testing ground and firewall in our country's promotion of financial sector reform and opening up (such as the internationalisation of Renminbi (RMB)). Under our country's dual circulation development strategy, Hong Kong will definitely achieve greater success in the future as long as we can give full play to our unique roles as a gateway, a springboard and an intermediary.
61. Leveraging our close proximity, Hong Kong can make use of the GBA development as an entry point, participating actively in the development of our country's domestic circulation for capturing the enormous business opportunities. As an international metropolis that connects the world, Hong Kong can help the expansion of the country's external circulation, and in consequence further strengthen its status as an international centre for finance, commerce and trade, as well as a home for corporate headquarters.
62. In the face of rising unilateralism, it is all the more important for us to actively promote multilateralism, dismantle various barriers and strength Hong Kong's links with the international community. We should further expand Hong Kong's trade, investment and tax agreement networks. The Free Trade Agreement and the Investment Agreement between Hong Kong and the Association of Southeast Asian Nations have recently come into full effect. In November last year, our country signed the RCEP Agreement with 14 economies. We are actively seeking to be among the first batch of economies joining the RCEP after it comes into effect, so as to help Hong Kong businesses and investors open up markets, thereby fostering the long-term economic development of Hong Kong.
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