Editorial : HK's challenge in the new layout of reform and opening-up

【明報專訊】AT the first China International Import Expo held in Shanghai, President Xi Jinping has announced multiple initiatives aimed at the further opening of China's economy. Over the course of forty years' reform and opening-up, China began by catching up with the economic globalisation, but now it has reached the point of striving for the reshaping of the direction of globalisation. The expo is a manifestation of such a transition and the role played by Hong Kong in the mainland's further reform and opening-up is to be adjusted. Xi has voiced his support for building Shanghai into an international financial centre as well as a hub of innovation and technology. With the purpose of improving the overall layout of China's reform and opening-up, he has also elevated the integrated development of the Yangtze River Delta region to the national strategic level, saying the region will develop in tandem with other national plans like the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative. With all the new challenges of competition ahead, Hong Kong should have a sense of urgency and cannot afford to play for time anymore. Chief Executive Lam Cheng Yuet-ngor has expressed the hope that Hong Kong will become the Silicon Valley of Asia. For that to come true, the government has to make still more haste and do more real work.