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When the United Kingdom handed over Hong Kong to China in July 1997, the arrangement centered on a promise: China would govern the region with a “one country, two systems” approach that preserved much of Hong Kong’s autonomy and capitalist practices, at least for the next 50 years.
Barely halfway to that 2047 benchmark, however, Beijing is dismantling its pledge to Hong Kong and the world. Once “the pearl of the Orient,” the global financial hub’s appeal to many of its 7.2 million residents, investors and others has declined precipitously, especially since China invoked a national security law in 2020. Hong Kongers have immigrated to the U.K. and elsewhere. Companies and investors have soured on the region’s prospects and opened businesses in other financial centers such as Singapore and Tokyo.
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Hong Kong’s Beijing-backed leaders passed legislation in March 2024 expanding the security law [imposed in 2019] and solidifying China’s rule. Local leaders and China’s National People’s Congress now must approve government directives.
Such moves were not envisioned under the agreement that preceded the handover of Hong Kong after 156 years as a U.K. colony. Intended as Hong Kong’s mini-constitution for the subsequent half-century, it said China would provide for the region’s diplomacy and defense while protecting freedoms of assembly, expression, the press and religion.
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In the most recent move, Hong Kong public universities were required to sign new accountability agreement to align with China's Xi Jinping's remarks, according to Hong Kong-based media outlet HKFP.
According to the new agreement, universities “should also strive to follow the advice and guidance of the Central Government on the future of Hong Kong [...] and observe President Xi Jinping’s remark [...]
The new agreement instructed universities to strengthen education on China’s Constitution, Hong Kong’s Basic Law, and the national security law, HKFP reported.
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