Rule of law – the defining coordinates of Hong Kong

In the past three months, the world has watched many public protests and social events in Hong Kong. Given the city's strategic role as a leading international financial centre and the gateway for investors to Mainland China, what's happening here is no doubt of utmost interest to many people. It is therefore crucial to get hold of the facts, rather than some biased, piecemeal information.

While it may take time for a reasonable resolution to be reached, contrary to what some people think, Hong Kong remains a safe and world-class city with unlimited potentials.

And there is every reason for Hong Kong to remain positive.

Our city has thrived on its unique advantages and strengths, which include the rule of law, judicial independence, a simple tax regime, a versatile and industrious workforce, to name a few. And fundamental to these attributes is a clean society that embraces probity and provides a level playing field for businesses, no matter where they come from.

Just last week, the Fraser Institute once again named Hong Kong the freest economy, recognising Hong Kong's steadfast commitment in building a healthy and business friendly environment. To suggest that the city's rule of law, which is fundamental to a free economy, was in any way threatened under the present situation was purely speculative and entirely groundless.

Paramount to the rule of law and sustainable growth of the economy is the ICAC's unwavering commitment to preventing and fighting corruption in both the public and private sectors. Hong Kong stands proudly as an "anti-corruption capital" and one of the leading advocates of corporate integrity. The SAR Government is determined to protect and promote probity and good governance in both sectors. Corruption is perceived as minimal in our city. Our anti-corruption efforts are well recognised globally and consistently acclaimed in surveys and studies conducted by international organisations.

It is the worst of times and the best of times. Hong Kong is facing huge challenges. On the other hand, amidst these challenges, Hong Kong's deep-rooted and well-cherished fundamentals and core values have remained intact. They define the coordinates of the city as it rides out the storm.