Xia Baolong urges Hong Kong tycoons to take action, says US containment to continue

Beijing’s point man on Hong Kong affairs has urged real estate tycoons and business leaders to “recognise their responsibilities” and take “concrete actions”, with several sources suggesting these could include actively participating in government land sales to support the city’s economic development, the Post has learned.

Even as he acknowledged them as a “major force” in the economy, Xia Baolong, director of the Hong Kong and Macau Affairs Office (HKMAO), appealed to the roughly 30 business leaders gathered for a special meeting over the border to “reform proactively” and have faith in the city and country’s development prospects, according to sources.

“As the major force in promoting Hong Kong’s economic development, Hong Kong businesspeople should recognise their important role and responsibilities in maintaining Hong Kong’s long-term prosperity and stability,” Xia was quoted as saying at the Shenzhen meeting on Friday.

“[They] should illustrate their love for the country and Hong Kong with concrete actions, actively support the administration by the chief executive and the [city] government in accordance with the law and take the initiative to shoulder the responsibility in promoting high-quality economic development in Hong Kong.”

Xia also touched on the outcome of the US presidential election, according to an attendee, who cited the official as saying that regardless of who won, the country would “continue its efforts to contain China”, as they needed to prevent Beijing from surpassing Washington in various areas.

The meeting was held two days after Donald Trump won the United States presidential election, a result that has prompted concern in some business circles in Hong Kong and across the border over his promise to increase tariffs on Chinese imports.