Skip to main content

Market Overview

Xi Jinping Swears In Hong Kong's New Leader Amid Tight Security, Says City Has 'Risen From Ashes'

Share:
Xi Jinping Swears In Hong Kong's New Leader Amid Tight Security, Says City Has 'Risen From Ashes'

Chinese President Xi Jinping swore in Hong Kong’s new leader, John Lee Ka-chiu, on Friday as a part of his two-day visit to the former British crown colony.

What Happened: Xi’s visit, his first outside mainland China since the pandemic began, coincides with the 25th anniversary of Hong Kong’s return to Chinese rule.

On arrival, Xi said Hong Kong had “risen from ashes” after overcoming severe challenges since his last visit in 2017, which proved that “one country, two systems is a good system,” reported the South China Morning Post.

Xi also met with the city’s outgoing leader, Carrie Lam, and her predecessor, Leung Chun-ying.

The Chinese leader praised Lam for her efforts to “stop violence and chaos, fight the pandemic with full force, integrate with the country’s development plan, and safeguard national sovereignty, security, development interests, and Hong Kong stability,” according to the Post.

Why It Matters: Xi’s visit came amid tight security with the city deploying plain clothes officers and “special constables” secured from Hong Kong’s prison guards, BBC reported.

On Friday, British Prime Minister Boris Johnson said that the U.K. was “not giving up on Hong Kong.” 

“Twenty-five years ago we made a promise to the territory and its people and we intend to keep it, doing all we can to hold China to its commitments so that Hong Kong is once again run by the people of Hong Kong, for the people of Hong Kong."

Hong Kong, as per a U.K.-China agreement, had agreed to run on a “one country, two systems” arrangement for 50 years since its handover in 1997. Half of that period has now elapsed.

The Special Administrative Region was hit by riots in 2019 and 2020 by pro-democracy protests. In 2020, the Chinese parliament chose to impose a tough national security law aimed at curbing the city’s autonomy in response to the protests. 

Read Next: Top China Communist Officials Rush To Prove Loyalty To Xi Jinping Ahead Of Crucial Event

Photo via Kaliva on Shutterstock

 

Related Articles (SPY)

View Comments and Join the Discussion!

Posted-In: Carrie Lam Hong KongAsia News Politics Markets Media General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com