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HK marks 12th anniversary of return to China

Wednesday marks the 12th anniversary of Hong Kong´s return to China, and the SAR government observed the day with a series of commemorative events.

HK 12 Years

12 years ago, Hong Kong,the most dynamic and prosperous harbor in Asia returned to China after more than a century of colonial rule. Since that time, the city has suffered waves of unexpected attacks, both from the economy and viral pandemic. But through it all, relations with the Chinese mainland have become even closer and more inseparable.

A Soldier of the HK Garrison

Episode I
In 1996, a year before Hong Kong´s return to China, a young man joins the army. 12 years later, as a husbad and father, he is haunted by memories from his youth.

Episode II
This is a story about Hong Kong. This is a story about how time changes us.

CEPA revives Hong Kong

Shortly after returning to China, Hong Kong suffered through the Asian financial crisis, which was followed by the deadly SARS pandemic.The Central government took timely action to revive Hong Kong. It signed the Closer Economic Partnership Agreement, also known as CEPA, to abolish tariffs on some products imported from Hong Kong, and opened the mainland´s service industry to the region.

HK tourism expansion

In the past six years, mainland tourists helped the tourism industry in Hong Kong to expand, creating 20,000 new jobs, and 60 billion Hong Kong dollars in income.

There used to be only four cities and districts in Guangdong province whose residents were allowed to visit Hong Kong. Now, nearly 50 cities in the mainland have established tourism cooperation with Hong Kong.

Monetary facilitation

The mainland agreed to a currency swap deal with Hong Kong. The Bank Regulatory Commission also made it easier for Hong Kong banks to establish mainland branches. Now, there are 15 Hong Kong banks with branches in the mainland.

Over 400 competitive mainland companies are listed in Hong Kong´s stock market with a total value of 7-trillion Hong Kong dollars.

Culture co-op, exchanges

Hong Kong motion pictures can be distributed on the Mainland without quota restrictions and will be issued public screening permits provided that they are imported by the China Film Group and pass censorship.Hong Kong service suppliers and operators are also allowed to construct or renovate cinemas on the Mainland; so far, HK companies have built 14 jointly-operated or wholly-owned cinemas there which have all yielded positive results.