Li Keqiang: "Hong Kong National Security Law is for Hong Kong... The US Should Pursue Common Interests" (Comprehensive)

Draft of Hong Kong Security Law Passed with 2,878 Votes in Favor
"For the Stability of One Country, Two Systems"
"The Dispute Between China and the U.S. Will Only Leave Scars"

[Image source=Yonhap News]

[Asia Economy Beijing=Special Correspondent Sunmi Park, Reporter Onyu Lim] Chinese Premier Li Keqiang stated on the 28th that the enactment of the Hong Kong National Security Law (Hong Kong Security Law) is a measure to safeguard the stability of the "One Country, Two Systems" policy and the long-term prosperity of Hong Kong.

At the closing press conference of the annual session of the National People's Congress (NPC) on the same day, Premier Li responded to a question suggesting that the Hong Kong Security Law could be seen as abandoning the One Country, Two Systems policy by saying, "One Country, Two Systems is a fundamental national policy." He added, "The central government has consistently emphasized One Country, Two Systems and Hong Kong people's governance of Hong Kong, as well as a high degree of autonomy. Furthermore, the position of supporting governance according to the constitution and the Basic Law, and the rule of law by the Hong Kong Special Administrative Region government and the Chief Executive, remains consistent."

At the previous NPC plenary session, the draft of the Hong Kong Security Law was overwhelmingly passed with 2,878 votes in favor and only one against.

There are forecasts that the NPC's decision, made despite strong warnings of a tough response from U.S. President Donald Trump, will worsen U.S.-China relations. Regarding this, Premier Li emphasized cooperation between the two countries, saying, "China and the United States are both permanent members of the UN Security Council, and both face traditional and non-traditional challenges. In this regard, there are certainly areas where the two countries can cooperate."

Premier Li reiterated the importance of cooperation for mutual benefit. He stated, "The two countries have extensive exchanges in science, economic trade, and humanities, and there are broad common interests. Cooperation between China and the U.S. benefits both countries, but conflict only leaves wounds."

He pointed out, "The relationship between the two countries concerns not only the interests of their peoples but also the interests of the world. Decoupling between the two major economic systems, China and the U.S., is detrimental to both sides and harmful to the world."

He also emphasized that the U.S. and China have become inseparable. Premier Li said, "The economies of the two countries are intertwined; I am in you, and you are in me." He added, "A few days ago, a U.S. high-tech company announced plans to invest in Wuhan, which I highly appreciate."

Premier Li further noted, "China and the U.S. are respectively the largest developing country and the largest developed country, each with different traditions and historical backgrounds. Conflicts and disagreements between the two countries are inevitable, but the issue is how to handle such situations." He urged that conflicts should be resolved in a way that pursues common interests.

Regarding the unusual decision not to set an economic growth target this year, Premier Li explained, "This COVID-19 pandemic has dealt an unprecedented shock to the global economy. Many international organizations forecast global economic growth rates at -3% or even lower. Not setting a GDP growth target this year is a pragmatic approach."

He said, "Although we did not set a growth target, we have established six safeguarding tasks: employment of residents, basic livelihood, market entities, food and energy security, stability of industrial chains, and operation of grassroots organizations. These six safeguarding tasks are directly related to economic growth. It is not that economic growth is unimportant, but we want people to directly feel the benefits of economic growth. The Chinese economy can achieve positive growth this year."

Regarding the stimulus measures announced in this year's work report, he stated, "In the past, we said we would not engage in 'flood irrigation' (quantitative easing), and that remains true. However, special times require special policies." He added, "Fish cannot survive without sufficient water, but if the water floods, bubbles form and fish cannot grow well. The measures we take must be 'tailored'."

He explained, "The large-scale funds to be raised this time amount to 2 trillion yuan, including 1 trillion yuan from the issuance of special COVID-19 bonds and an additional 1 trillion yuan from fiscal deficits. Along with this, policies to reduce corporate operating costs through various tax cuts will be implemented. Government budgets should be used to create jobs, support livelihoods, protect market entities, and sustain residents' incomes. China still has policy space to introduce new measures, so it is important not to hesitate and to operate the economy steadily."

This content was produced with the assistance of AI translation services.