‘I’ll be first in line to buy your bonds’: how Zhu Rongji put steel in Hong Kong’s spine
In late 2002, then Chinese premier Zhu Rongji visited Hong Kong and sought to put steel in the spine of the city’s establishment that was floundering under an economic slump and a ballooning deficit. “Even if you spend all your fiscal reserves three years from now, what is there to fear?” he asked his dinner guests at Government House in a famously unscripted speech. “If you issue 50-year…
Chief Executive John Lee Ka-chiu expressed his heartfelt sorrow over the passing of former Chinese Premier Zhu Rongji, praising his support for Hong Kong during difficult periods, including the 1997 Asian financial crisis. Lee emphasized Zhu's commitment to maintaining the "one country, two systems" principle and noted his visit to Hong Kong multiple times to connect with people from all walks of life.
During a memorable dinner hosted by Zhu in 2002 at Government House, he famously declared that even if Hong Kong spent all its fiscal reserves, he would be the first to buy 50-year Hong Kong bonds issued on the mainland, confident that others would follow. This bold statement reportedly boosted the spirits of those in attendance, who recalled Zhu's humor and approachability despite the challenges he faced.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
