HK’s competitiveness falls behind major mainland cities

[TaiShang]

Well said, Hong Kong's betterment is good for the nation! Instead of looking forward to HK becoming just another Chinese city, I look forward to peers catching up with HK soon!

Indeed. I guess most of the members just want to see a normalization not by HK going down but by China catching up. Hopefully, the bruised ego will silence the colonial-flag toting HK traitors because their argument of "we are free, endorsed by the West, so we are more developed" argument is currently being trashed.

 

[Shotgunner51]

And China would like HK power to decrease "relatively" vs other city but in absolute term, mainland will still allow HK to grow.

Like it or not, it will happen. China is a fast developing/growing economy, HK is slow growing developed economy, simple maths.

The independent inclination of HK is due to fact that HK people think they are richer than PRC.

HK is indeed richer than PRC on average, that's a hard fact, not perception.

But the independent inclination of HK got nothing to do with that, it's due to other reason(s).

And the interesting thing is the most responsible one who screw HK is not Beijing but HK elites.

No, it's exactly the opposite, it's the right-wing extremists among average middle-class.
On the contrary, elites are pragmatists, they stand to benefit from close relationship with Beijing.

Beijing by not following Mao's teaching of imposing socialism in HK

Beijing (post-Mao era) has a far bigger wisdom than exporting socialism, they knowing what's hard reality now, what's good in the long run, for the nation of China.

 

[ChineseTiger1986]

The ultimate way of HK after going back to China is, just a normal city at Guangzhou.

在中国里面，香港跟其他城市比，并没有优势，最终将成为中国三线城市。

And China would like HK power to decrease "relatively" vs other city but in absolute term, mainland will still allow HK to grow.

A powerful HK is also a secessionist HK.

The independent inclination of HK is due to fact that HK people think they are richer than PRC.

And the interesting thing is the most responsible one who screw HK is not Beijing but HK elites. Beijing by not following Mao's teaching of imposing socialism in HK is equivalent to 借刀杀人.

Frankly, i won't mind if HK can re-thrive back to the top under the banner of the Socialism/Maoism.

I am not a big fan of Bo Xilai, but i like his Chongqing model, since this is the moderate Maoism, and most people love it.

Bo Xilai had failed to spread his Chongqing model because he cannot control himself and his family.

Now, i hope HK can become the second experimental field to re-introduce the Maoism back to the Mainland China, since the Mainland China nowadays also lacks the Maoism.

The Cultural Revolution had initially good intention to fight against the new born elites/bureaucrats/corruption, it later failed and turned into a tragedy because too many radical elements had been added into the Maoism.

Those anti-Maoism bastards simply have no heart by labeling Mao as another cult like the Kim family. Mao sent his own son to the battlefield, while the Kim family wouldn't even need to do it if they wanna pass their throne to their offspring. So Mao is a true ideologist who made mistakes during his practice, while the Kim family is nothing but a bunch of feudalistic cult.

But the Chongqing model is in fact the moderate Maoism, no one was harmed except those criminals/mafia gangsters, crooked businessmen, and those corrupt officials who were involved into many grafts. Otherwise, you wouldn't see so many Chongqingers defend it.

HK needs to become a second Chongqing.

Mao is the forerunner, and his first experiment wasn't successful, but it doesn't mean that we have to stop.

The Chongqing model is like the moderate Maoism in a mini scale, and if it spreads across the entire China, then i am sure it is going to become more successful than the first inexperienced Cultural Revolution.

 

[Jlaw]

HK’s competitiveness falls behind major mainland cities
By Felix Gao in Hong Kong

In a picture taken on April 24, 2015, people walk at the Lo Wu train station near the border with Hong Kong, in the southern Chinese city of Shenzhen. (AFP PHOTO / FRED DUFOUR)

Hong Kong’s comprehensive competitiveness among the country’s provincial-level regions fell 5 places to 12th, while Guangdong, Jiangsu and Shandong provinces topped the ranking, results of the China Institute of City Competitiveness’ survey show.

The SAR’s growth competitiveness ranked only 24th among all 34 provincial-level regions. But it still topped the per capita wealth competitiveness ranking, and was named the most internationally influential city of China.

The institute said Hong Kong’s comprehensive competitiveness has been declining in recent years, as the mainland’s economy has maintained a robust annual growth rate for many years and the rapidly developing major cities, Shanghai, Beijing and Shenzhen, are challenging the position of Hong Kong.

Hong Kong led the nation’s list of the most competitive cities for 12 years in a row until it was surpassed by Shanghai in 2013, according to the institute. In a Chinese Academy of Social Sciences research released this May, Hong Kong lost its top ranking in competitiveness for the first time in 13 years, trumped by its neighbor Shenzhen.

The report noted that Hong Kong has lost its long-term competitive advantage, as its industrial structure is lacking in diversity and it has no real economy. Hong Kong’s gross domestic product (GDP) was surpassed by Shanghai and is predicted to be surpassed by Guangzhou and Shenzhen this year, and more mainland cities after 2016.

Hong Kong’s insufficient land supply and its monopolized real estate market have led to high property prices. The high cost of living has restricted the development of Hong Kong and undermined its competitiveness, said the report.

The city is also suffering from its lack of innovation while scientific research personnel and research funding are in short supply. Its total investment in research and development in 2013 amounted to HK$15.6 billion, accounting for 0.75 percent of GDP, compared with 2.08 percent on the mainland and 0.98 in Kenya, according to the institute.

Gui Qiangfang, president of the institute, said Hong Kong still has other advantages. “Hong Kong has been ranked as the world’s freest economy. The city’s simple tax regime, low tax rates, sound legal system, clean government and high quality education are cornerstones of its competitiveness,” he said.

Gui suggested that Hong Kong government should set up a study group to draft a strategic plan on long-term competitiveness. He said increasing innovation investment is crucial to the city’s future development.

"Hong Kong should learn from the success of Shanghai and Shenzhen. Collaboration with Pearl River Delta cities and other mainland cities is also necessary,” said Gui.

Hong Kong can also enhance its competitiveness by actively taking part in mainland’s “One Belt, One Road” initiative, he added.

So true. Most of my university friends who went back to HK are all working in banks. There are no other jobs but banks. Sad really. Just like Singapore.

When you make $180k/year USD in HK and you still have to rent because you can't afford a condo by the bay is simply ridiculous.

" as its industrial structure is lacking in diversity and it has no real economy."
Banks don't generate real wealth. True.

What's average salary of HKers ?

they are high, but living standards are so damn high. My friend make over $150k USD/year in HK and he has to rent a nice condo. He pay $4500 USD/month for rent.

No wonder people are having less children in HK. Hopefully Shanghai does not become that. Have more variety of industries in a city ensures the well being of a city.

 

[Kyle Sun]

they are high, but living standards are so damn high. My friend make over $150k USD/year in HK and he has to rent a nice condo. He pay $4500 USD/month for rent.

No wonder people are having less children in HK. Hopefully Shanghai does not become that. Have more variety of industries in a city ensures the well being of a city.

Holy shit ! 4500 USD/month , just for rent ?????

 

[Place Of Space]

It's a bad news. Why Hongkong don't release its restrict of citizen movement? I can't understand why the HKers family living in a 40 sq meters small house and lead the poor life in Hongkong. Because the price of house is very high there, they can sell the house and buy a huge house in mainland. Their children also can get better education and more job opportunity in mainland.

 

[TaiShang]

HK definitely needs a thorough restructuring, from city politics to economic structure. Every political system has strengths and weaknesses. The point is to make the best out of what is realistically available. HK romanticism and the new born radicalism will not help anybody in the city but agents and provocateurs.

 

[TaiShang]

Trash is cleaned:

The last remaining tents of protesters situated in front of the Hong Kong’s Legislative Council building were cleared away on Wednesday.

The clearance operation took around two hours. It went smoothly, with little resistance from protesters.

 

[Huan]

So true. Most of my university friends who went back to HK are all working in banks. There are no other jobs but banks. Sad really. Just like Singapore.

When you make $180k/year USD in HK and you still have to rent because you can't afford a condo by the bay is simply ridiculous.

" as its industrial structure is lacking in diversity and it has no real economy."
Banks don't generate real wealth. True.


they are high, but living standards are so damn high. My friend make over $150k USD/year in HK and he has to rent a nice condo. He pay $4500 USD/month for rent.

No wonder people are having less children in HK. Hopefully Shanghai does not become that. Have more variety of industries in a city ensures the well being of a city.

omg, we would need a comprehensive housing reform. Is HK housing system profit-driven?

 

[AndrewJin]

Holy shit ! 4500 USD/month , just for rent ?????

When studying in Shanghai, I rented a room with a toilet and a kitchen in the city centre, 1500yuan/month.

 

[Jlaw]

omg, we would need a comprehensive housing reform. Is HK housing system profit-driven?

How it work in HK is for the most part is a few families own most of HK's land. Li, Kwok, etc family. they develop the buildings, sell and lease the units. Most people end up working for them in one form or another. So you get a landlord-tenant system where no matter how much your salary increase, the building you try to buy (the good ones) will always outpace your salary so you're always back to square one.

Singapore is same thing more or less. @Lux de Veritas

Holy shit ! 4500 USD/month , just for rent ?????

Yes, but by the bay. Still expensive. He is trying to save up to buy but at the time these units were going for $4-5million USD. Good luck to him and his wife who also make good money. They are still renting.

 

[Lux de Veritas]

How it work in HK is for the most part is a few families own most of HK's land. Li, Kwok, etc family. they develop the buildings, sell and lease the units. Most people end up working for them in one form or another. So you get a landlord-tenant system where no matter how much your salary increase, the building you try to buy (the good ones) will always outpace your salary so you're always back to square one.

Singapore is same thing more or less. @Lux de Veritas

Yes, Singapore has landlordism so is all east asian countries. The landlord suck us by making property and rent rise faster than wages.

These parasite are always ahead of the game. The people's labor got transferred to these leaches.

And these leaches lead an idle life.

Whenever the poor cry about inequality, our rich will tell the poor "you are stupid, you are lazy", basically these elites rob our $ and put shit on our face by despising us.

 

[Shotgunner51]

omg, we would need a comprehensive housing reform. Is HK housing system profit-driven?

Just like most other place, Hong Kong has a robust private sector in the housing market, and yes the market price is very high in the private market.

Running in parallel with the private sector, there is a huge public housing sector which is a set of mass housing programmes through which the Government of Hong Kong and provides affordable housing for Hong Kong citizens, subject to a range of restrictions and eligibility requirements. Public housing is mainly built by the Hong Kong Housing Authority and the Hong Kong Housing Society. Rents and prices are significantly lower than those for private housing and are heavily subsidised by the government. Programs include:

• Public Rental Housing
• Home Ownership Scheme
• Tenants Purchase Scheme
• Flat-for-Sale Scheme (住宅發售計劃)
• Sandwich Class Housing Scheme
• Interim Housing

According to the 2006 census, 3.3 million people or 48.8% of the population of Hong Kong lived in rental or subsidised-sale public housing; within that group, 31% lived in public rental housing, 17.1% lived in Housing Authority subsidised-sale flats and 0.7% lived in Housing Society subsidised-sale flats

For official website, check below:

Home | Hong Kong Housing Authority and Housing Department​

Similarly private housing market in Singapore is very expensive. Public housing is managed by the Housing and Development Board (HDB). The majority of the residential housing developments in Singapore are publicly governed and developed. As of 2013, 80% of the resident population live in such accommodation. These flats are located in housing estates, which are self-contained satellite towns with schools, supermarkets, clinics, hawker centres, and sports and recreational facilities.

For official website, check below:

http://www.hdb.gov.sg/fi10/fi10320p.nsf/w/aboutuspublichousing​

P.S.: While Hong Kong and Singapore are among the wealthiest nations, have highest real estate prices in the private housing, commercial, and office spaces, the two also have the most comprehensive, sophisticated and broad-based public housing in the world.