Last week Hong Kong’s new leader Leung Chun-ying was sworn into office by Chinese President Hu Jintao. The ceremony coincided with the 15th anniversary of the British handover of Hong Kong to China so there was plenty of rhetoric about ‘strengthening ties with the motherland’. Yet not far from the ceremony, tens of thousands of Hong Kong citizens marched in protest showing discontent with growing inequality and what they perceive as Beijing’s increasing assault on the territory.
The relationship between Hong Kong and mainland China is complex. Beijing for the most part has kept its promise to uphold the ‘one country, two systems’ mandate. Officially, Hong Kong is considered a ‘Special Administrative Region’ (SAR), which means that it is treated as a separate country from an immigration standpoint and continues to circulate its own currency, the Hong Kong dollar. Hong Kong also retains an independent legal and judicial system inherited from the previous British rulers.
Most importantly, Hong Kong has avoided the draconian media censorship common on the mainland. A free press is consistent with its reputation as a global center of banking and commerce. Hong Kong’s ease of trade and doing business frequently leads it to being named one of the world’s freest economies.
So if Beijing continues to hold up its end of the deal, why do so many Hong Kong residents march in protest? The relationship is more nuanced than it appears on the surface. Politically, Hong Kong residents do not have the freedom to elect their leader (CY Leung was appointed by a 1,200-person electoral college made up primarily of pro-China business leaders), although democratic elections are set to commence in the next five years. Underlying this frustration is what Hong Kong residents see as an infiltration of growing mainland influence on the city.
On the ground, Hong Kong experienced a huge increase in mainland tourists to the city since the handover. Hong Kong doesn’t have the same high tax rate on imported goods that mainland China does, so mainlanders flock to the city primarily for shopping, hunting for bargains on electronics and luxury fashion brands. It is not uncommon to see long queues of mainland tourists in front of shops of famous fashion brands like Gucci, D&G or Prada. The droves of mainland shoppers spending money in Hong Kong are great for the local economy, but many locals decry the constant flow of tourists as invading ‘locusts’.
Yet more significant than what is happening on the ground is what is taking place high above in the sky. The phenomenon of wealthy mainlanders purchasing real estate in the city has driven housing prices to astronomical levels, approaching the market just before the Asian Financial Crisis of 1997. For well-off Chinese mainlanders, Hong Kong real estate is seen as a safer long-term investment than China’s still somewhat risky real estate market and unpredictable stock market. A severely limited land supply coupled with the fact that a handful of powerful real estate oligarchs control the market for new development means that prices will probably stay high barring another economic crisis.
Land-use policy is perhaps the most critical factor in determining both the future of Hong Kong and the mainland. As anyone who has been to the city can attest to, Hong Kong has some of the best infrastructure in the world, including a first-class international airport, extensive rail system and a booming seaport. Much of that infrastructure comes from the city’s land-auctioning system, which is the government’s primary source of revenue. This is also what helps keeps taxes low.
Furthermore, unlike in the U.S., where infrastructure is traditionally financed publicly, Hong Kong’s infrastructure is increasingly built with private funds. For instance, the city’s Mass Transit Railway (MTR) Corporation, founded as a public entity, went fully private in 2000 and is traded on the Hong Kong’s stock exchange. In addition to operating and maintaining the city’s existing rail system, MTR Corporation is responsible for building new lines. What makes MTR Corporation different from most other transit authorities is that its primary earnings do not come from passenger ticket sales but from developing the land on top of and around its metro stations.
Cheung Kong Holdings, led by Hong Kong’s richest man Li Ka-shing, is not only one of the city’s largest property developers, its business interests also include Hutchinson Port Holdings (a port operator that handles 13% of the world’s container traffic) and Hutchinson Telecommunications Limited (which builds and operates mobile phone networks). Sun Hung Kai, another powerful Hong Kong property developer also owns stakes in logistics and telecommunications businesses (although its founders, the Kwok brothers, were recently arrested on corruption charges).
The mode of urban development in mainland Chinese cities is heavily influenced by Hong Kong. Yet instead of powerful corporations, State-Owned Enterprises (SOE), large entities owned by the government, dominate urban development related businesses. China’s land auctioning system is far from perfect, with well-documented instances of corrupt land seizures and the unfair advantages government backed SOEs have in the bidding process over private developers. But with virtually no property taxes in mainland cities, land sales remain the primary source of revenues for local governments to support infrastructure development.
There is growing evidence that suggests China plans to alter the direction of its development model in the coming years by consolidating and privatizing its SOEs. Already, Hong Kong property developers are active in the mainland real estate market with Chinese companies eager to learn from their expertise. The cozy relationship between Hong Kong developers and mainland SOEs is a cause for concern by Hong Kong citizens, as they see their local developers as more interested in appeasing Beijing authorities than providing affordable housing for its own citizens.
Yet this is inevitable. The city of 7 million cannot expect to forever be completely independent of a country of 1.3 billion to which it is now irrevocably attached. This is true even in spite of Hong Kong’s role as an international center of trade.
Throughout history, Chinese culture survived through its sheer mass and cultural osmosis. When CY Leung gave his inaugural speech last week, it was in Standard Mandarin, the official language of China. Although the citizens of Hong Kong are also Chinese, their official language is Cantonese, a completely different and not mutually intelligible dialect. Leung’s move was seen as a slight to the people he was chosen to serve, yet given who he has to report to in Beijing, it made perfect sense.
Adam Nathaniel Mayer is an architectural design professional from California. In addition to his job designing buildings he writes the China Urban Development Blog.
Follow him on Twitter: AdamNMayer
Hong Kong photo by BighStockphoto.com
Email this Story
Hello,I love reading through
Hello,I love reading through your blog, I wanted to leave a little comment to support you and wish you a good continuation. Wishing you the best of luck for all your blogging efforts. - IME
Good post. i read a lot of
Good post. i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future.. - wood dye
I agree with your opinion
I agree with your opinion and fully support it, you have been a great contributor and I always come to your blog as I know you always share the best of your information.
Fitness Republic Weighted Pilates Ball
Casino
Great info for all those guys is providing with this casino web page with some handy details insights. This information and facts is extremely useful for me and my close friend also. I am very much impact to visit this site and that i am traveling to this geant casino site inexpertly that to sights is delivering information and facts is extremely pleasant and practical for me. Sometime translate the knowledge inside the particular language. Thanks a lot for furnishing the large amount strategies with this casino barcelona site.
That is very interesting
That is very interesting Smile I love reading and I am always searching for informative information like this. Just stumbled across your blog and was instantly amazed with all the useful information that is on it. Great post, just what i was looking for and i am looking forward to reading your other posts soon! - Manfaat Kulit Manggis
blog comment
Last week Hong Kong's new leader Leung Chun-ying was sworn into office by Chinese President Hu Jintao. The ceremony coincided. Starting a Gold IRA
Thank you commentators who
Thank you commentators who provide information through your comments, which supports this article more interesting. I will always follow the development of this website. Because this article is no less interesting with the articles that I've read so far. Thank you very much. guild wars 2 gold
I'm not one to read this
I'm not one to read this article, this article is very useful for me. Thank you hopefully can make the article even better than this. carpet cleaners Wimbledon
the article is very
the article is very interesting and can be mutually sharing knowledge.thx a lot.turbotax free turbotax
it is legitimate delight to
it is legitimate delight to play this amusement. web host compared You get considerably more fervor further power into this diversion. In it you can revel in Ancient Egyptian topic from the time of the Pyramids and Tutankhamuntheme and awesome player remunerates accessible, by its distinctive subject it progress absolutely much ubiquity.
Seo
I’m happy to have found your very excellent article! I agree with some of your readers and will eagerly look forward to your coming updates. Just saying thanks will not just be adequate, for the superb lucidity in your writing. I will instantly grab your rss feed to stay privy of any updates. Very good work and much success in your business efforts.I am very happy to discover your post as it will become on top in my collection of favorite blogs to visit. modern-pandaseo | linkbuilding-pandaseo | google-pandaseo
Cool
it is a complete bundle of excitement and fun. System for playing this amusement are comparative to whatever viable amusement yet certain updates are happen once you make playing. buckleupwa logo this diversion you could come to know how it play. You should have certain images in your working, this image builds you wining risk, seattlephp logo as a matter of fact it furnishes you much preferable win. v-chernomorec logo As needs be numerous rewards ready to you, pflueger28ezloan 2013 it is legitimate delight to play this amusement. You get considerably more fervor further power into this diversion. eyeof berlin In it you can revel in Ancient Egyptian topic from the time of the Pyramids and Tutankhamuntheme and awesome player remunerates accessible, snapperzfunlafayette since 2013 by its distinctive subject it progress absolutely much ubiquity.
directry
buy text links
healthusa directory
home-webdirectoryBook of ra kostenlos online spielenconnected recreations has every little item that you need, in it you get the energy, thrill and vital different primary headlines that make any diversion a truly enamoring solo. buy backlinksThis amusement has power to make a hit with most living breathing souls. seo for googleIt is positive to procurement staring you in the face and psyche, it is a complete bundle of excitement and fun. pagerank-linkSystem for playing this amusement are comparative to whatever viable amusement yet certain updates are happen once you make playing this diversion you could come to know how it play. You should have certain images in your working, this image builds you wining risk, as a matter of fact it furnishes you much preferable win. As needs be numerous rewards ready to you, it is legitimate delight to play this amusement. You get considerably more fervor further power into this diversion. In it you can revel in Ancient Egyptian topic from the time of the Pyramids and Tutankhamuntheme and awesome player remunerates accessible, by its distinctive subject it progress absolutely much ubiquity.
it is a complete bundle of
it is a complete bundle of excitement and fun. System for playing this amusement are comparative. insurance directory usa to whatever viable amusement yet certain updates are happen once you make playing this diversion. oneway-linkbuildingservice you could come to know how it play. highpagerank-seo You should have certain images in your working, bamarush 2013 this image builds you wining risk, as a matter of fact it furnishes you much preferable win. As needs be numerous rewards ready to you, highpage-rank it is legitimate delight to play this amusement. You get considerably more fervor further power into this diversion.
xmenspiele 2013 |
xmenspiele 2013 | spielautomatenonlinespielen-kostenlos | onlineumgeldspielen 2013 This travel tips help you schedule your time and money. Hi this is Michael Micheli and I'm planning a trip on my bike too, living San Francisco California to Argentina, and mi to traveling on a low buget camping I'm Original from Argentina so Ablo Espanol, I'm flexibol on time, I love to take my time thinking to cross New Ladero lest keep in touch.
here are the findings
This website has very good content. So I am sure this website will form the well-known in the future. This is a great post. I like this topic.This site has lots of advantage.I found many interesting things from this site. It helps me in many ways.Thanks for posting this again. - springbed murah
nice one
I was so lucky to visit this site I really want to recommend this to everyone cause theres no doubt about its content I really love this one thanks for sharing this!I hope that I can see new interesting topics Im looking forward to that link swap
It was very well authored
It was very well authored and easy to undertand. Nice blog having nice information. some times we ignore this sort of things & also suffer a lot as well.It is important to choose right one since the first time. Thank you for the tips. pr backlinks Proper care will save money in long term.Well, the article is actually the sweetest topic on this related issue. I am glad to found such useful post.
Now, there's obviously like
Now, there's obviously like the true black hat stuff, which is essentially comment spamming and it's just automated stuff that goes through, leave comments in the hopes that some of them get approved and some of them pass some link value and maybe some of them are not no-followed or maybe the no- follows carry some weight or get scraped or picked up. Xrumer blasts, like all these kinds of things, right, that find open ports on the Web and leave these strings of comments. That would be like the black hat stuff.
belvedere casino | casinobonussichern | casino buttler | casino genies | casino guthaben | casino simulator
nice one
visit website | more information A good informative post that you have shared and thankful your work for sharing the information. Got some appealing information and would like to give it a try. Applaud your work and keep sharing your information.Really impressed! Everything is very open and very clear clarification of issues. It contains truly facts. Your website is very valuable. Thanks for sharing.Really impressed! Everything is very open and very clear clarification of issues. It contains truly facts. Your website is very valuable. Thanks for sharing.Really impressed! Everything is very open and very clear clarification of issues. It contains truly facts. Your website is very valuable. Thanks for sharing.
buyhighpage-ranklink |
buyhighpage-ranklink | free-dmoz-directory | foodsweb-directory It is extremely helpful for me.Actually This post is exactly what I am interested. we need some more good information. Please add more good information that would help others in such good way.
search
search engineoptimizationpackages | searchengine optimizationpricing | thelinkbuilding services I have to say that the information here was the most complete that I found anywhere. I am definitely bookmarking this to come back and read later.Your website is very chatty. It will be useful for all of us. You have done a work.
Really appreciate this
Really appreciate this wonderful post that you have provided for us.Great site and a great topic as well i really get amazed to read this.
pisos conductivos
Fantastic article, this is
Fantastic article, this is so well explained that even my kids could follow it, thanks and keep up the great work!
pisos de goma
nice one
delhiwebsite designingbusiness| delhiwebsite-designingagency To write a such kind of article is really amazing,I daily read your blogs and give my announcement for that here this article is too great and so entertaining.Die genauen Regeln werden bei Casino Bet natürlich auch erklärt. So weiß man immer, wann man mit den richtigen Bingozahlen gewonnen hat. Die Regeln von anderen Casino Spielen werden natürlich auch genau erklärt, wobei ich das persönlich nicht brauche, da ich mit so ziemlich allen Spielen, die ein Casino anzubieten hat, bestens vertraut bin. Neuigkeiten aus der Welt der Casinos findet man ebenfalls immer aktuell in der News Sektion bei Casino Bet.
Hey there! I've been reading
Hey there! I've been reading your blog for a long time now and finally got the courage to go ahead and give you a shout out from Porter Texas! Just wanted to say keep up the fantastic work!
pisos antiestaticos
spiel geld casino24 | online
spiel geld casino24 | online spiel casino test
geiz-casino | casinos spielen24
Blog feedback are what create a site entertaining and public. The most popular weblogs have a very entertaining group who speech their views on content frequently. It's that public element that makes weblogs such a highly effective part of the public web. Individuals like to experience involved. Making blog feedback allows guests to be a part of in on the conversation about a subject that passions them.
We have plenty of . With new
We have plenty of . With new colours and contrast linings Barbour are keeping this fresh and at the top of everyone's wish list this year!
tapetes con logo
I wanted to leave a little
I wanted to leave a little comment to support you and wish you a good continuation. Wishing you the best of luck for all your blogging efforts.
piso de caucho
go to the website
I am find information on this topic as I am working on a business project. Thank you posting relative information and its now becoming easier to complete this project. - tabung pemadam kebakaran
This blog is very
This blog is very informative. i am really impressed by the comments which people have given over here. i am sure many people will get more and more knowledge from this.
pisos para uso rudo
I was very pleased to find
I was very pleased to find this web-site.I wanted to thanks for your time for this wonderful read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you blog post.
http://www.unimatcorp.com/unimatcorp/samistore/formas/productos_detalle.php?id_producto_seleccion=134
This web site is really a
This web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.
http://www.unimatcorp.com/unimatcorp/samistore/formas/productos_detalle.php?id_producto_seleccion=47
I read your post and I found
I read your post and I found it amazing .Your thought process is wonderful. The way you express yourself is awesome."
piso para juegos infantiles
This article alone shows
This article alone shows your talent and skill at writing on this topic. I am very impressed and I sincerely hope you plan on continuing with these. I’ll return soon.
reductores de velocidad
I just stumbled throughout
I just stumbled throughout your blog as I had been looking on Yahoo. I need to thanks for using the time for you to share your ideas in your weblog. I will be sure to bookmark your website for long term reading through.
cell phone spy software
cell spyware
he city can attest to, Hong
he city can attest to, Hong Kong has some of the best infrastructure in the world, including a first-class international airport, extensive rail system and a booming seaport. Much of that infrastructure comes.vancouver web design
I'm not going to lie, I'm
I'm not going to lie, I'm really impressed. The lock is typically engaged via a small switch on the edge of the door that is only accessible when the door is open. Your page is sweet, your graphics are great, and what's more, you use videos that are relevant to what you're saying. - toko tas branded
A private limited business
A private limited business has various Rec to rec companies Singapore advantages over the other two conventional types of company which type it the mass flexible and the displacement favoured type of Singapore undertaking entity.
Wow! Thank you! Wonderful
Wow! Thank you! Wonderful post!This is very useful to many readers like me.Being a student, I am requiring myself to read articles more often and your writing just caught my interest.Thank you ! . Can I take a fragment of your post to my blog? - crocs malindi
Please let me know if you're
Please let me know if you're looking for a article author for your weblog. This website has very good content.So I am sure this website will form the well-known in the future. - Nama Bayi
Some thoughts on HK
The majority (silent majority) of Hong Koners are perhaps the most pragmatic people on earth. While the "one country two systems" is far from perfect, it is nevertheless the only viable (realistic) option available. With regards to Hong Kong over the past 15 years, there have been positives as well as negatives. On the plus side, the basic underpinning of "one country two systems" has been more or less effective despite some shortcomings. The economy made it through some of the worst global/regional financial crisis in economic history (HK is an open external dependent economy). HK's status as a major financial center has been strengthened despite all the fears about Shanghai and other regional competitors. The integration with the rest of the Pearl River Delta is providing HK with unprecedented scale (something it lacked before) to be on par with the world's major urban centers. If HK plays its cards right, it is well positioned to become a leading global financial center similar to London. HK's relatively more open system and worldly outlook (where the east meets west) enable it attract some of the best talents from the mainland and around the world. For example, HK's universities are among the very best the region. The city is also well positioned to be a major innovative hub in the fashion and entertainment industries. On the negative side, the most obvious is the growing gap between the haves and haves not as well as the persistent environmental problems. Obviously, these are problems not restricted to only Hong Kong. Part of the problem in HK is structural. The "golden era" (from the 1960s to the 1990s) when anything seemed possible was when HK was still an emerging economy. It experienced rapid growth (catch up phase) in virtually all segments of the society (just like Japan, Singapore, S. Korea and Taiwan at the time). However, HK now is a fully developed economy, where growth becomes more of a challenge. Moreover, as it integrates into Pearl River Delta, the relatively lower skill areas in the economy are feeling the squeeze from low costs neighbors. Part of the social tensions between locals and mainlanders are a byproduct of such adjustment. On the flip side, HK has been increasingly attractive for the elites and those educated in high skilled areas. The other factor behind HK's problems is the lack of effective government policies, most notably with under supply of land for housing development. The administration of Donald Tsang was in many ways a continuation of the so called "colonial insider", characterized by the effective execution of the "old tradition" but lacked innovative policies for a structurally evolving Hong Kong. The new CY Leung administration is perhaps the first true "local" or some would say the "real Hong Kong handover". It has an opportunity to take Hong Kong to another golden era. Likewise, many HK residents, especially the so called "post 80s" generation must also take a more practical approach to reflect on how they can remain competitive in a changing world.
The other big issue that the new administration must address is the path towards a more refined democratic government, an issue that has frustrated most Hong Kongers. History has shown that the course for political reforms rarely happens on a straight line. Disagreements and frustrations are to be expected. The struggle is simply part of the process. Some form of democracy is inevitable in Hong Kong (and eventually in China as well) as it’s the norm in modern government. However, Hong Kong should not blindly adopt democratic models of other countries per se, but try to come up with a system that takes strengths (transparency, popular support, etc) and avoid the weaknesses (gridlock, partisan politics, etc). The process should be beyond the ideological argument of liberalism, conversatism, confucianism, etc. Instead, it should strives to develop a system that balances out the need for enough legitimacy and yet retains merit and competency based on the society's unique underlying character. No doubt this will require some innovative thinking between the government and its 7+ million residents. If HK's residents can reflect on its traditional strength of pragmatism, flexibility and efficiency, Hong Kong should be well positioned for another golden era. Moreover, Hong Kong’s development could very well foreshadow the mainland’s political future.
What about the issue of Sinification? As China continues to develop, its influence will continue to expand around the world. Hong Kong is no exception and should take advantage of its attributes. Being able to communicate in multiple languages is an asset not a liability. Proficiency in Mandarin and English is critical for the city to remain competitive. There is really nothing wrong with using more Mandarin in official settings as it is after all the de facto (Putonghua) national language. Daily usage of Cantonese will not disappear, just like the daily usage of thousands of local dialects across China. In fact, many would be surprise to learn the growing number of northern Chinese interested in learning some basic Cantonese. Hong Kong remains highly influential to mainland pop culture. While Hong Kong is very much a Chinese city, but let's not forget that it is also China's and perhaps the region's most cosmopolitan and dynamic city.
'One Mega-City, Many Systems': The Evolution of Hong Kong
http://www.theatlanticcities.com/politics/2012/06/one-mega-city-many-sys...