Xi's patriotic Hong Kong vision is a hard sell for foreign firms

During his first trip outside mainland China since the Covid pandemic began, president Xi Jinping declared a new era for Hong Kong which, in his words, had "risen from the ashes". New priorities have been set for a city that, until two years ago, was engulfed in street protests: political loyalty, social stability and economic development.

- Vincent Ni and Sum Lok-Kei

Xi praised the "one country, two systems" policy, and said there was no reason to change it; it must be "upheld for the long term". But, perhaps unsurprisingly, his speech, as well as one by Hong Kong's chief executive, John Lee, overwhelmingly emphasised convergence with Beijing.

There has been an unprecedented unpicking of freedoms in Hong Kong since Beijing imposed a national security law in 2020. Scores of pro-democracy activists, journalists and opposition politicians have been jailed.

"The ultimate interest of Hong Kong should be consistent with that of the country's," Xi told his audience in the Hong Kong Convention and Exhibition Centre, where 25 years ago London transferred the territory to Beijing.

Despite international condemnation, the national security law was only the start of ensuring Hong Kong is governed by those whose politics are in line with Beijing's. The choice of a former security tsar as chief executive was one strong indication.