The development of Hong Kong and Macao has a separate chapter in the 12th Five-Year Plan. Mr. Cheng Kar-chun, Managing Director of New World Development Company Limited, who is also a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), pointed out that financial services and logistics are the industries in which Hong Kong and the Mainland have an advantage in accelerating integration. He directly said that the mainland has unlimited potential, and the Group will increase its investment in the future, especially optimistic about the domestic market, and will focus on considering raising RMB to cope with the problem of appreciation.

　 Calls for accelerated integration with mainland stock markets

　　How Hong Kong can complement the 12th Five-Year Plan has become a hot topic of discussion among Hong Kong members and representatives. According to Mr. Cheng, Hong Kong itself, as a logistics, financial, trading and shipping center, will have unlimited advantages if it strengthens its cooperation with the Mainland. "The Mainland has always had a number of policies that are beneficial to Hong Kong, so Hong Kong must grasp the huge resource advantages of the Mainland and the opportunities it now has to go global." He pointed out that Hong Kong is already an internationally recognized platform. As long as Hong Kong continues to give full play to its advantages in terms of laws, systems and talents, coupled with the Mainland's ability to provide a huge market and cheap labour, it will be able to join hands with the Mainland to achieve rapid development in the 12th Five-Year Plan.

　　Among the four major industries, Cheng Kar-chun believes that as an international financial center, the cooperation between Hong Kong and the Mainland must not be separated from the financial industry, "Hong Kong is best at the financial industry, which is a big platform, and the Government must do more work on the financial sector." He suggests that Hong Kong can speed up the integration of the stock markets with the Mainland and establish a big platform for stock trading, "Many people are now interested in Mainland stocks, and Mainland people also hope that they can buy Hong Kong stocks, so Hong Kong can play the role of an internationalized capital market."

　　Convenient transportation promotes the integration of the two places

　　In terms of logistics, Hong Kong's advantages are not bad either. Mr. Cheng pointed out that the plan mentions major projects for cooperation between Guangdong, Hong Kong and Macao, including the transportation network, railroad network, and improvement of border crossing problems, which is believed to shorten the distance and make transportation faster and faster, which can further speed up the flow of travelers and accelerate the integration of the two places. Qianhai is also specifically included in the plan. "The 12th Five-Year Plan mentions the development of Qianhai and other plans involving innovation and technology, service industries, financial services, etc., which will consolidate Hong Kong's existing position". He believes that this is just the beginning, and it is up to the governments of Hong Kong and Shenzhen to reach a consensus and introduce good policies to successfully build a business platform for better economic integration between the two places. "We will wait for the introduction of policies before considering investment."

　　Bullish on retail market Growth may reach double digits

　　As a matter of fact, New World has already made a lot of investments in the Mainland, which can be regarded as a step ahead. Mr. Cheng Ka-chun said that the Group's investment in the Mainland is diversified and involves different industries, accounting for half of the Group's revenue. If the Mainland continues to develop at the current pace, there is unlimited room for it, and the Group will definitely increase its investment in the Mainland. He is particularly optimistic about the retail market, believing that the Mainland will continue to increase its efforts to expand domestic demand, the growth rate of at least double-digit, that is, an annual growth of at least 10%, Chow Tai Fook has 1,000 outlets in the Mainland, and will continue to actively expand the number of new stores in the future.

　　Now the development in the Mainland has to face the problem of RMB appreciation, Cheng said this is a matter that must be taken positively, and will actively consider the issue of RMB debt issuance and borrowing in the future, "The RMB is becoming more and more internationalized, we must follow this trend to make investment direction! Some of the Group's companies have also sought listing in the Mainland. He believes that this is one of the ways to raise RMB funds, but there are still a lot of constraints, such as tax arrangements.